Macken has been at Haymarket since joining the company's graduate trainee scheme 23-years ago. She was most recently responsible for Haymarket Business Solutions, including its conferences, awards, data operations, circulation and subscriptions, production and recruitment services.
Macken will be now be responsible for Business Media's market-leading portfolio of specialist magazines, digital brands, data and information businesses, conferences and events, including Media Week, Campaign, Windpower Monthly, ENDS, Brand Republic and Media 360.
Macken said: "The business is going through a period of transition and change, and with such challenges come exciting opportunities. We have some of the most talented people in business media working for HBM and I am really proud to be leading this group of people in the future."
Her appointment follows the departure of Martin Durham as chairman and managing director of HBM in December 2009.
Kevin Costello, Haymarket Media Group's chief executive, has assumed the operational role of managing director of HBM in an acting capacity since January 2010.
Earlier this year, Costello also took on the global duties of Haymarket's consumer and business-focused operations.
He said: "I am delighted that Jane will lead Business Media. She has an exceptional knowledge of our brands, the markets and audiences they serve, together with a diverse range of experience in the growing number of digital, information and face-to-face business models."
The HBM executive management team of Simon Lees, Peter Welland, Richard Watts and Mark Jeffries will now report to Macken.