Tom Farmer will be the new university's founding chancellor

The institution, which was formerly a college and originally taught young women domestic science, was awarded university status last month.

It now has almost 4,000 students and offers a range of degrees including nursing, drama and social science.

Sir Tom, is the founder of Kwik Fit and a well known philanthropist.

Born in Edinburgh, where he still lives with his wife, Anne, Sir Tom made his fortune by founding the Kwik Fit chain of garages, which he has since sold. He was named Scottish Businessman of the Year in 1989, and was knighted in 1997.

'Distinctive niche'

He said he was looking forward to his new role.

"Queen Margaret University has paid me a great compliment by asking me to be their founding chancellor," he added.

"I have been associated with Queen Margaret for a number of years and have always admired it as a dynamic and forward-thinking organisation, with a distinctive niche in higher education."

Professor Anthony Cohen, Queen Margaret's principal and vice chancellor said he was "delighted and honoured" that Sir Tom had agreed to take on the role.

"Queen Margaret University is driven by the values of excellence, relevance and our responsibility to address issues of pressing social need," he added.

"Both in his business and philanthropic activities, Sir Tom Farmer personifies these values, and provides the university and our students with an exemplary role model.

"His leadership and example will be an inspiration as Queen Margaret moves into the next exciting and challenging phase of its history."

In August, the university will relocate from its existing sites at Corstorpine and Leith to a the purpose build Craighall campus at Musselburgh.