Nayman will be responsible for securing key partnerships across a range of growing communities on , including those focusing on travel, pets and cars.
The appointment follows news in February that was considering selling the social networking site, which has seen its value plummet since it was bought in December 2005 for £175m.
It has grown considerably since ITV bought it and changed its business model by dropping subscription charges in favour of pursuing advertising revenue.
However, ITV was reported in January to be writing down the value of the site substantially.
Nayman said: "Based on the recent developments to the site we are now in a position to offer advertisers a range of opportunities linked to our members' interests and passions -- a real chance to be part of the 20m plus Friends Reunited community"
He will report to Andy Baker, managing director of Friends Reunited Group.
Baker said: "This is a fantastic recruit for Friends Reunited and we look forward to the wealth of knowledge and experience that Craig will bring to the role.
"Unlike other social networks, Friends is over-concentrated in users aged 35 to 60, and not surprisingly, our user communities reflect the leisure interests of British people in those age groups, such as travel, pets, cars, photography and entertainment.
"Working alongside our ITV sales team, Craig will be invaluable in helping to take our targeted advertising and ecommerce opportunities out to major partners."