Penn will be based in Sydney and will oversee Future Australia's magazine portfolio, including titles such as T3, Xbox 360: The Official Magazine, and Windows Vista: The Official Magazine.
He joins Future from Australian publisher Derwent Howard, where he was group publishing director.
Penn has also worked for companies including Haymarket in the UK and Australia, as well as VNU, giving him nearly 20 years' experience in media.
Simon Wear, Future UK's chief operating officer, said: "Karl has a wealth of management and publishing experience and has worked as group publishing director with our licensed titles in Australia for two years, so it is very much 'business as usual'."
Future first expanded its magazines into Australia in 1995. The company owns more than 180 special-interest titles over the world, including brands such as Total Film, Digital Camera, Fast Car, Classic Rock, Guitar World, Nintendo Power and MacLife.
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