Aiyawatt Srivaddhanaprabha has taken over as the new chairman of Leicester following the death of his father Vichai in a helicopter crash last October.
Known as 'Top', Aiyawatt was vice-chairman up to this point.
His brother, Apichet, takes over as the new Leicester vice-chairman.
Their father Vichai Srivaddhanaprabha was among five people killed in a helicopter crash outside the King Power Stadium following the Premier League match against West Ham on October 27 last year.
Aiyawatt promised to carry out his father's "big vision and dreams" following his passing.
"It is a privilege to become the next chairman of this great club and to lead the Leicester City family into the next chapter of what has already been an extraordinary story," he said. "It feels like there is so much more to come."
With manager Brendan Rodgers in charge, Leicester begin the 2019/20 Premier League campaign against Wolves on Sunday.
The club signed Dennis Praet on the final day of the summer transfer window following the £85m sale of Harry Maguire to Manchester United.
"As we approach the start of the new season, there is genuine excitement and positivity among our supporters and in the football community about what we can achieve," Aiyawatt Srivaddhanaprabha added.
"We have an exciting young squad, an outstanding manager and backroom staff, and a well-structured and sustainable off-pitch operation, all backed by an energised and engaged supporter base.
"Next summer, our football operation will move to a brand new training facility that will be among the best in Europe, while the process of consulting supporters and our community on the proposed expansion of King Power Stadium has also begun.
"These developments were all part of my father's dream for Leicester City. It's a dream that belongs to all of us now and it will be my honour to lead the club as we pursue that dream together."
Leicester City remain wholly owned by the Srivaddhanaprabha family.