Chairman Rex Graham said the council had begun the process of finding a new chief executive but this was expected to take some time.
Mr Woodham was the perfect person "to keep the seat warm" in the interim, he said.
The council had looked into the Hawke's Bay community to find a suitable candidate, with two "very able" people found. Mr Woodham was chosen because he was well qualified with "extensive experience in the corporate world".
He had also recently begun contractual work with the council - which Mr Woodham said began about two weeks ago, to work on an "efficiency and effectiveness review".
Although born in Christchurch, Mr Woodham was raised in Hastings, and spent 25 years working in Wellington as a chartered accountant.
After returning to Hawke's Bay he spent more than four years as Hohepa Hawke's Bay's sustainability manager, until August last year.
During this tenure he worked alongside regional councillor Neil Kirton.
After yesterday's meeting Mr Kirton said he thought Mr Woodham was extremely capable, and was delighted to see him in the role.
His appointment put council in a "very good, safe pair of hands".
Mr Woodham's appointment will take effect on April 3, with Mr Newman's last day March 31.
A large part of Mr Newman's tenure at the regional council was spent driving the Ruataniwha Water Storage Scheme.
Progress on the Ruataniwha Dam stalled with the election of a new group of councillors last year, which shifted the 5-4 split away from supporting the dam.
Before the year was out a moratorium had been placed on further activity relating to the dam, and HBRIC Ltd chairman Andy Pearce had resigned.
