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.
- Sigsteinn Páll Grétarsson, Arctic Green Energy Corp. (Chairman of the board).
- Anna Guðmundsdóttir, Gjögur hf
- Baldvin Jónsson, Embassy of Iceland
- Birkir Hólm Guðnason, Icelandair
- Hrannar Pétursson, Ministry for foreign affairs
- Inga Birna Ragnarsdóttir, Kosmos & Kaos
- Vilborg Einarsdóttir, Mentor
- Júlíus Hafstein, Ministry for foreign affair
- Ásta Magnúsdóttir, Ministry of Education and Culture
- Erla Ósk Pétursdóttir, Vísir hf
- Eyjólfur Árni Rafnsson, Mannvit Consulting Engineers
- Ingibjörg Guðrún Guðjónsdóttir, Icelandic Mountain Guides
- Ingibjörg Ólafsdóttir, Radisson BLU Hotel Saga
- Ríkharður Ibsen, Blue Diamond
- Unnur Orradóttir Ramette, Ministry for foreign affairs