Geoff Mulgan, chief executive of the Young Foundation, will join Nesta in June as its new chief executive officer.

Mulgan, who lead the Young Foundation for six years, has a colourful career background, including roles in government between 1997 and 2004 as director of the government’s strategy unit and head of policy in the Prime Minister’s Office, founder and director of the think-tank Demos and a reporter on BBC TV and radio.

Mulgan said: “This is a very exciting time to be joining Nesta, which is an organisation uniquely placed to test and grow creative answers to some of the biggest challenges our society faces.”

Nesta, which was formerly a non-departmental public body, is set to be reconstituted as an independent charity.

The Young Foundation has chosen its managing director Simon Tucker to replace Mulgan.

Tucker will takeover as chief executive in June. He said: "I am delighted to be given the opportunity to lead the Young Foundation into its next phase, with the support of a very strong management team - all of whom have great track records - and a very talented staff body. We have lots going at the moment and many more interesting projects in the pipeline."