Taylor, who will begin his new role immediately, was responsible for the successful integration of the LB Icon and Framfab UK businesses.
He was executive vice-president at Framfab and also founded Oyster Partners in London.
Pickering will remain a board member and be retained as a consultant to assist management and the board with mergers and acquisitions.
Ewen Sturgeon, currently the LBi managing director in London, will take over Taylor's former position as chief executive of LBi in the UK. He will report directly to Taylor.
Taylor said: "Our management team is highly experienced in our field and in our geographic markets. We established the vision to become full service in our key markets and we are executing to achieve our goal.
"Our investments and acquisitions in the media and search areas are evidence of our progress and ambition. I am very excited about the opportunity to lead LBi with my colleagues to continued growth and value creation."
Separately, Jesper Andersen, the current executive vice-president of LBi International and managing director of the LBi Nordic business, will join Theo Cordesius as joint LBi International executive vice-president of operations.
Andersen will be responsible for Denmark, Sweden, Belgium, Germany and Switzerland, while Cordesius will remain responsible for the Netherlands, Italy, Spain and the US.
Fred Mulder, chairman of the LBi International board, said: "We are pleased that we have the depth of management talent that we can select the future leadership of LBi from within. I have no doubt this new corporate management team is capable of taking LBi to the next stage in its development.
"I would also like to take this opportunity to thank Robert Pickering for the vital role he has played in LBi's development over the past years. After almost six years at the helm, Robert's resignation as CEO is both for him and for the company a logical next step."