The ex-Villa boss, who was at the helm of the club for four years until 2014, becomes the youngest chief executive in the business group's 200-year plus history.
He pledged to take some of his experiences in the football world at Aston Villa and Nottingham Forest into the world of Birmingham commerce as successor to departing chief executive Jerry Blackett – and hailed the 'feelgood factor' surrounding Villa's first FA Cup Final appearance for 15 years.
Mr Faulkner told the Post: "I am excited about starting the role and am looking forward to building on the very strong organisation that is already in place.
"I think it is great that Villa are in the cup final. I know what an important role sport can play in the life of the community. Seeing Villa being successful is great but I was also thrilled when Walsall got to Wembley for the Johnstone's Paint Trophy final.
"Four or five years ago we had Blues, West Brom and Villa in the Premier League. I know that many, many people have seen Villa win the championship, the European Cup and the League Cup.
"Villa getting to the FA Cup Final is great for the city and great for the fans and everybody associated with the club."
He said the knock-on effect from local success on the football field was considerable, with Take That concerts at Villa Park attracting tens of thousands, the Rugby World Cup later this year and other events while the chamber was in a "healthy and robust" state.
"I am thrilled with this opportunity and look forward to getting started at the end of June," he added.
"The chamber is an institution I have been well aware of and I have worked with Jerry for a number of years.
"It has gone through a big period of change and there are exciting times ahead both for the chamber and the region.
"We can look forward to growing our membership base and to growing the support services we offer to the members and the region."
Mr Faulkner said he was "very excited" about Birmingham's future prospects.
"When you think about Birmingham and the region, and what is going on with HS2, HSBC, New Street station, John Lewis, the work over at the airport and the new routes, the links with China."
He said Jaguar Land Rover's growth in recent years had been vital for the region.
"It is such a global success story. It is phenomenal - the impact on the West Midlands has been great to see."
Outgoing chief executive Jerry Blackett said Mr Faulkner's appointment would help the chamber's links with the younger generation of businesses.
"We can look as if we are remote from some of the younger businesses. We are not but having somebody from that generation will make us much more accessible and attractive," Mr Blackett added.
Mr Faulkner, who was the chamber's unanimous choice from a final shortlist of five whittled down from 20, takes over as head of Greater Birmingham Chambers of Commerce when Mr Blackett leaves on July 3.
Cambridge-educated Mr Faulkner was chief executive at Villa between 2010 and 2014, having previously served in senior management roles at the club since 2006.
After leaving Villa, he was chief executive of Nottingham Forest until February this year.
He is an associate non-executive director at Birmingham Children's Hospital as well as a Trustee of Cure Leukaemia, Town Hall Symphony Hall and the Library of Birmingham Trust.
Before working in football, he spent four years with MBNA Bank, working at their head office in the USA as well as the UK, in addition to a period as a consultant with Michael Page.
David Waller, chairman of the GBCC, said: "I am delighted that Paul is joining us.
"The chambers are in robust health and we have a number of growth opportunities.
"Paul's skills and knowledge are a great match for the role. His experience of the professional and financial services sector during his time at MBNA has equipped him to relate well to this important sector of Birmingham's economy.
"His experience of running two major football clubs gave him great relevant experience of running businesses. In particular, Paul's commercial track record is very strong and attractive.
"We are also attracted to Paul's leadership style. Paul is able to get the very best of the people he leads and is very committed to helping people develop themselves to their full potential."