His appointment follows a strategic decision to directly align all of CNN's international commercial activities into a single operation.
Raad will be responsible for the commercial strategy and vision of CNN International and oversee its advertising sales, content sales, business development, international research and marketing activities.
He will also retain his current responsibilities, managing Turner Broadcasting's operations in Turkey, the Middle East and Africa.
Gerhard Zeiler, president of Turner Broadcasting System International, said: "We are simplifying the organisation and establishing clear responsibilities. Rani is the logical choice for this ambitious challenge, due to his track record leading CNN's global commercial initiatives and his vast international network."
Raad, who has been with Turner Broadcasting for 15 years, said: "Aligning the commercial streams for the world's leading international news brand will help us deliver best-in-class solutions for our partners across all the diverse platforms where CNN has become a valued and ubiquitous presence."
CNN has 45 editorial offices and is available in six languages in more than 200 countries, across all major TV, internet and mobile platforms. It is part of Turner Broadcasting System, a Time Warner company.