In her new role Cheshire will be involved in a range of projects. She will work on CBS Outdoor's strategic development around the 2012 Olympics as well as sponsorship and new revenue streams.
It is understood that CBS Outdoor and Cheshire are yet to determine whether it will be a full-time position but a spokesman confirmed she "will be in the office a lot".
All national sales at CBS Outdoor will now be managed by national sales director Pete Charlton though the exact structure is yet to be determined.
In December CBS Outdoor restructured its UK operation and integrated its traditional and digital sales teams, with the loss of around 25 jobs across the company.
The job losses affected all divisions, including national sales and marketing. At the time a CBS Outdoor spokesman said Pete Charlton and Nicky Cheshire would both stay with the company.
The company introduced significant changes last year. In October 2008, Tim Bleakley, managing director of sales and marketing, resigned to pursue "other commercial ventures" following a management restructure.
When Bleakley left, Ireland managing director Colin Leahy became general manager, sales and marketing for the UK, in addition to his Irish responsibilities.
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