Tim Davie, the BBC’s director of audio and music, has been appointed chief executive of BBC Worldwide.

He will replace John Smith, who has run BBC Worldwide for the last eight years.

During this time, the BBC said he had turned the Corporation’s commercial arm into a “major global media company”. It added he had doubled BBC Worldwide’s revenue and grown profits four-fold.

The BBC also credited Smith with turning Doctor Who and Dancing with the Stars into “global franchises”.

Prior to running BBC Worldwide, Smith was chief operating officer at the Corporation.

BBC director general George Entwistle said: “He has turned the company into a truly global phenomenon delivering a fantastic financial injection into the BBC every year.”

In the last financial year, BBC Worldwide had profits of £155 million.

Entwistle added that Davie “has a fantastic vision for the opportunities that lie ahead for BBC Worldwide”.

Davie, who currently oversees BBC Radio 1, 2, 3, 4 and the Corporation’s digital stations, will take up his new post on December 1.

He said he was looking forward to “leading BBC Worldwide through its next phase of growth”.