07/31/2013 11:31 EDT | Updated 09/30/2013 05:12 EDT

Cheryl Boone Isaacs elected president of Academy of Motion Picture Arts and Sciences

LOS ANGELES, Calif. - A veteran marketing executive is the new president of the Academy of Motion Picture Arts and Sciences.

The organization's board of governors elected Cheryl Boone Isaacs to the position Tuesday evening.

She is the first woman to hold the post in three decades and the first African-American president in the academy's history.

Boone Isaacs was elected to a one-year term but is eligible to serve four successive terms. She succeeds Hawk Koch, who served for one year but was ineligible for re-election.

Boone Isaacs previously served as first vice-president of the film academy, which announced its new president via Twitter.