|Mr. Savage will replace Franz Prenner who lasted less than a year as Lions CEO.
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He replaces Franz Prenner, who took the job in January 2002 and left in September.
Phone attempts to contact festival officials in London were unsuccessful at press time.
Mr. Savage was executive chairman of the Sydney-based Val Morgan cinema advertising group, where he spent more than 30 years. Val Morgan has been the Australian representative for the Cannes festival for more than 15 years.
Mr. Savage, who is moving to London from Sydney, said his new job is "about as an exciting role as you can get." He praised the diversification of the festival, which added direct marketing awards last year, into areas outside media advertising.
"The blueprint is working extremely well," he said. "Fundamentally the Cannes Festival is understanding and tapping into the extraordinary convergence issues relating to all media and marketing communication."