The RAB, which celebrates its tenth anniversary this year, awarded Radio Advertising Fellowships to people including the former COI chief executive, Carol Fisher, Carphone Warehouse's Charles Dunstone, BT's Katrina Lowes and McDonald's UK marketing director, John Hawkes.
The contributions made to commercial radio by advertising and media agencies were also recognised, with OMD's Jonathon Gillespie, the former Leagas Delaney media director, Jerry Fielder, BMP DDB's Paul Burke and HHCL & Partners' founder Steve Henry also gaining fellowships.
Publicis' joint chief executive, Derek Morris, was made a fellow for his work for the IPA while at BMP Media.
The RAB's managing director, Justin Sampson, said: "Commercial radio wanted to recognise individuals who have made particularly significant contributions to the development of the medium across the past ten years."
The recipients of the Radio Advertising Fellowships were announced during a RAB-hosted reception, celebrating the past ten years of commercial radio, held at the House of Lords earlier this week.