In an annual general meeting, the Indian Broadcasting Foundation also elected Punit Goenka, Rajat Sharma and N P Singh as its Vice President, a statement said.
Discovery Networks Asia-Pacific (DNAP) General Manager Rahul Johri has been elected as IBF's treasurer, it added.
Commenting on the development, Uday Shankar said: "I am privileged to be trusted by the members of IBF to lead the industry body at a critical juncture when the industry needs to leap to the next level by working collaboratively with the Government and other stake holders."