Promote Iceland is managed by an executive board of seven members. Four of those members are drawn from the private sector, with three appointed by the Government.

Board members: 
Friðrik Pálsson, Hótel Rangá, Chairman of the Board
Eggert B. Guðmundsson, HB Grandi
Einar Karl Haraldsson, Innform
Kolbrún Halldórsdóttir, The Federation of Icelandic Artists
Ólöf Ýrr Atladóttir, Iceland Tourist Board
Sigsteinn Grétarsson, Marel Iceland
Vilborg Einarsdóttir, Mentor

Alternates: 
Ásta Magnúsdóttir, Ministry of Education
Guðbjörg Edda Eggertsdóttir, Medis
Gunnar Tómasson, Thorfish
Ingibjörg Guðrún Guðjónsdóttir, Icelandic Mountain Guides
Kristján Skarphéðinsson, Ministry of Industry
Stefán Einar Matthíasson, Lækning
Urður Gunnarsdóttir, Ministry for Foreign Affairs