Kendall had also been an Athletes' Commission Member. Barry Maister remains an IOC member.
Walker had missed qualification for her third Olympic Games in the BMX after an injury-plagued build-up to Rio, was delighted with the news.
"It will be such a huge honour to be involved with the IOC and the Olympic Movement and I will be doing everything I can to represent all Olympic athletes as well as contribute my own perspective that I have gained through my Olympic journey."
The news had been a surprise for Walker who was woken in the middle of the night by a phone call from the IOC.
"I usually sleep with my phone on silent, but I wanted to make sure I was available for Eliza (McCartney) if she needed me," added Walker who mentors the 19-year old silver medal winning pole-vaulter. "Instead, it was a call from the IOC."
Walker competed in BMX at both the Beijing 2008 Olympic Games, where she placed fourth, and London 2012. She has also used her Olympic experience to inspire young New Zealanders in her role as an Olympic Ambassador.