Her appointment, along with that of Cambridgeshire county councilor Shona Johnstone and Hertfordshire-based entrepreneur Nitin Dahad, was announced by the government.
Pat McFadden, minister of state for employment relations and postal affairs, said: “They will bring valuable experience and knowledge to the work of the RDA.
"Their membership to the board will be important in the contribution they can make in supporting the national and regional economies through this exceptional economic period.”
EEDA chair Richard Ellis added: “All three have excellent knowledge of the East of England and I look forward to working with them to drive forward the long-term economic growth of the region.
"Our key challenge is to ensure that businesses and communities in the region have the support they need through EEDA and its partners in these tough economic times.”
Cllr Russell (pictured), who took up her three-year appointment last month, will represent the local authority sector on the board. She said: "This is an excellent opportunity to help drive and influence policies that will directly help businesses and communities to prosper and grow in the East of England.
"I am proud of the opportunity to develop and promote the quality of life and economic well-being in this great region.”