Rhodri Morgan: Praise for appointment

It was also a key player in the recent success of attracting the prestigious Ryder Cup 2010 to Wales.

Mr Jones will work alongside the agency's new chief executive, the former head of Welsh Water, Graham Hawker.

First Minister Rhodri Morgan has warmly welcomed Mr Jones' appointment, describing him as 'a home-grown Welsh success story.'

Originally from Corwen in north Wales, Mr Jones launched Penn, the international pharmaceuticals company based at Tredegar in south east Wales in the early 1980s after being "fast-tracked" by the Wellcome Foundation.

"Roger Jones brings unique qualities to the role of Wales' leading business ambassador,"said Rhodri Morgan.

"He is one of Wales' most successful entrepreneurs with a very strong commitment to science, education and the environment.

The chairmanship is an enormous responsibility because the impact of the WDA getting things right affects the lives of almost everyone in Wales

Roger Jones

"These strengths will be invaluable during his term of office at the Welsh Development Agency as our future economic success will be based on innovation, entrepreneurship and the knowledge economy."

Mr Jones assumes the leadership at a challenging time.

Despite its success in job creation - a record 22,000 were created or safeguarded last year - the WDA is faced with helping soften the blow of around 3,000 job losses in the steel industry.

The country is also struggling to recover from the effects of the foot-and-mouth crisis which has devastated parts of rural Wales and hit the tourism industry hard this summer.

The first minister also paid tribute to Sir David Rowe-Beddoe "for his outstanding leadership of the WDA during a period of constitutional change in Wales."

A Welsh-speaker, Mr Jones was educated at Bala Boys Grammar School and the Welsh College of Pharmacy, Cardiff.

Awarded the OBE in 1996, Roger Jones is married with two children, and he now lives near Brecon in Powys.

Sir David Rowe-Beddoe : Retiring

He said:"The chairmanship is an enormous responsibility because the impact of the WDA getting things right affects the lives of almost everyone in Wales.

"Nevertheless, I feel that my voluntary involvement with different aspects of Welsh life has given me the confidence to take on this responsibility."

Among his voluntary roles Mr Jones is Chairman of the Broadcasting Council for Wales and a National Governor of the BBC for Wales.

He is also Chairman of the Institute of Directors in Wales, a Governor of the University of Glamorgan and Christ College, Brecon, a Trustee of the Welsh Language Centre at Nant Gwrtheyrn, President (South Wales) of the British Association for Advancement of Science, and President of the YMCA in Wales.