The paper said that Clark's promotion reflected his current responsibilities at the title and that he will effectively be carrying out the same duties as before.
A replacement will not be appointed to fill his former position.
Clark joined News International in 2000 as ad director at News Group, publisher of The Sun and News of the World. In 2004, he moved up to the position of commercial director at News Group, before transferring to its sister division, Times Newspapers, as the ad director.
He was then promoted to the role of general manager of News International Free Newspapers in July last year, two months prior to the launch of thelondonpaper in September 2006.
Clive Milner, group managing director of News International, said: "Ian, together with Stefano Hatfield, has successfully led thelondonpaper from its launch to establish the title as London's leading newspaper.
"I am sure that Ian, backed by a great team, will lead thelondonpaper to greater success in the future."
Separately Eva Simpson, currently editor of the 3am celebrity news pages in the Daily Mirror, is to join thelondonpaper as assistant editor. While Alexa Baracaia from the Evening Standard, has been appointed arts and entertainment editor.
Thelondonpaper recorded a slight increase in circulation during October, up 0.8% from 491,706 to 495,650 copies, according to the latest Audit Bureau of Circulation figures.
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