To take up the role, Wood will step down as non-executive director of the Future Plc Board which he joined in April 2009.
Wood has previously worked as chief executive of ITN from 2003 to 2009, where he created and built new digital media businesses. Prior to that he worked for Reuters, having worked his way up from journalist to editor-in-chief, in charge of all Reuters news and television businesses.
Since leaving ITN Wood has worked on numerous digital start-ups and has advised two national newspaper groups on internet and iPad strategies.
Stevie Spring, Future’s group chief executive, has been managing the role in addition to her own, since Price’s departure in May. Spring said: "Content creation and curation is at the heart of Future’s business and Mark is one of the UK’s most experienced and talented leaders of content-focussed companies."
Wood said: "I relish the opportunity to play a bigger part in the achievement of the company’s objectives in a rapidly changing media market."