LeLacheur was the president and CEO of the Edmonton Eskimos from 2002 to 2011. He will start his new job in January.
The role has been vacant since Dennis Skulsky stepped aside as Lions president and CEO in April 2016.
“I am extremely pleased that Rick has accepted this critically important role with the Lions,” team owner David Braley said in a statement. “I have a great deal of respect for what he has accomplished both in private business as well as during his time in the CFL. I know he will be a tremendous asset to our organization and help guide it to new heights.”
LeLacheur, who is currently chairman of the board of Horse Racing Alberta, joins the Lions as the 30th president in franchise history at a critical time. Attendance has dipped dramatically in recent years, and Braley has been looking to sell the club.
“I am honoured and excited to be part of this historic and respected organization,” LeLacheur said in the statement. “The B.C. Lions have been an integral part of the Canadian sports landscape for more than six decades, and there are tremendous opportunities for it to experience unprecedented growth.
“I know the passion David has for this team and this community, and I’m grateful for the confidence and trust he has placed in me. I can’t wait to get started.”
An Edmonton native, LeLacheur’s addition is just the latest connection to the Eskimos for the Lions. B.C. hired former Eskimos player and executive Ed Hervey as its GM last month, while former assistant coach Jarious Jackson was named the club’s new offensive co-ordinator last week.