Metro International has hired Toksvig as vice-president of corporate development, in charge of launching free Metro titles in new markets.
He will work alongside vice-president Jan Sjowall and will report to Steve Nylund, executive vice-president.
Toksvig was behind the US launch of OK! in 2005, but returned to the UK in 2006, reportedly to work on an afternoon freesheet for Northern & Shell's Express Newspapers. The title never appeared.
During his time at Northern & Shell, Toksvig oversaw the launch of OK! in 16 markets. He has also previously worked at Metro International, between 2000 and 2002. He started his career as a journalist on the Danish business title Monday Morning.
Per Mikael Jensen, President and CEO of Metro International, said: "I am convinced that one of the ways to future growth for Metro International is to enter new markets where we don't necessarily take equity in the paper but mainly supply our brand, concept and huge base of knowledge of launching and running free newspapers.
"Looking at our very successful franchise operations in Korea, Mexico and Brazil among others, I'm confident that this will be a strong way to expand the Metro network."
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