His new position will take effect Nov. 19.
Austin, who said he is looking forward to the new challenges at the country club, was president and CEO of the bureau for more than five years.
In addition to his country club position, Austin will transition to the Convention and Visitors Bureaus board of directors.
The CVB will be scaled down, Austin said.
"With the elimination of the Economic Development Agency and the city's inability to provide monetary support, the staff and board of directors are continuing to form a new model and business plan," he said.
The new plan will move forward toward a sustainable and successful 2013, according to Austin.
Paul Sebree, Arrowhead Country Club board president, said Austin will be an asset.
"We are very excited about what Wayne brings to the country club. His credentials and resume are tremendous and he will take us in a new direction," Sebree said.
"We've taken the club over from a management company and will manage it ourselves, so we were very selective about our new general manager."
Austin said he is looking forward to going back to his hospitality roots.