Holmes, a New Zealander who has spent the past 20 months in charge of New Zealand Thoroughbred Racing, will fill the void left by Michael Bowers, who departed the club in October last year.
Former Richmond chief executive Steven Wright was appointed to an interim role following Bowers' decision to leave the club he joined shortly after the 2001 premiership triumph.
Holmes said he was thrilled by his appointment and looked forward forward to the challenge of steering this club into the future.
"The Brisbane Lions is an extremely proud club that is steeped in history and while there are obvious challenges, I know we have fantastic foundations to build upon - a magnificent club culture and extremely loyal and dedicated members and supporters," he said.
"The entire organisation has demonstrated over the past six months the work ethic and willingness required to be successful and I will work hard to build on this foundation into the future."
Lions chairman Angus Johnson said Holmes had a track record of successfully managing high profile organisations, including a number of sporting teams and bodies in Australia and New Zealand.
"His excellent management and strategic skills, as well as his strong leadership and business acumen, are exactly what the Lions need as we continue to build a strong and successful future," Johnson said.
Holmes, who has no experience in the football industry, will take on the tough job of turning around the fortunes of a once-proud club that has fallen on hard times.
The Lions recorded a $2.4 million operating loss for the past year, saw club stalwarts Justin Sherman, Michael Rischitelli and Jared Brennan depart during trade week and then sacked multi-million dollar signing Brendan Fevola and second-chance player Albert Proud during a tumultuous off-season.
Proud's contract was ripped up after he was convicted of assaulting a police officer in January, while Fevola was shown the door after alcohol-fuelled New Year's Eve celebrations in Brisbane landed him in the police lock-up.
The former Carlton star is now considering offers to play in the VFL for the 2011 season after receiving a confidential payout from the Lions.
