She takes over from Paul Brown, who is stepping down at the end of December.
Thompson, who joined Camelot in 1997 as commercial operations director, took over as chief executive in December 2000 when Camelot was awarded the second license to operate The National Lottery. She is a former 'Marketer of the Year' and has been lauded for her efforts in spearheading Camelot's growth strategy.
Brown said of Thompson's appointment: 'I am pleased that RadioCentre has secured a well-known national figure - and someone who knows the advertising and marketing industry inside-out - to help move commercial radio forward.'
Thompson is due to take up her new position next February.