LIC has been named as the Cooperative Business of the Year.
Littlefair, who has been acting in the role since September, has previously held senior IT roles at KiwiBank, ASB Bank and the Colonial Group and was also chief information officer for the Bank of South Pacific for a time.
Chief executive Wayne McNee says Littlefair's extensive experience and leadership skills will be hugely valuable to LIC and its farmer shareholders.
"LIC is currently in the midst of a significant technology transformation programme worth more than $40 million. This work aims to provide the infrastructure and foundations that will not only support growth in the business, but enable the delivery of new innovations that add more value on-farm.
"Paul's skills, experience and strong leadership qualities will be instrumental in its success."
Littlefair starts in the role immediately, reporting to the chief executive.