The newly created role signifies Newcrest's growing interest in PNG.
Aitsi will be responsible for managing relationships with government, community and business leaders in the country while he also manages Newcrest's corporate office teams in Port Moresby and Kavieng.
"This is an important role to Newcrest and one which reflects our growing presence and confidence in Papua New Guinea," Newcrest chief executive officer Greg Robinson said.
"We are very pleased that Mr Aitsi has agreed to join us.
"He is eminently qualified for the role bringing over 15 years of experience working at senior levels within the PNG private sector, extensive experience in community development, working with civil society and in communications, all of which are key aspects of the Newcrest country manager role."
Aitsi was president of PNG's Media Council for eight years to 2007, and remains on the board of PNGFM where he was once the general manager.
He served as a country manager for engineering consultancy GHD in PNG and was a founding chair of the Digicel Foundation.
Also a former chairman of Transparency International PNG, Aitsi remains a board member of PNG retailer CPL Group and the Coral Sea Group of hotels.
Newcrest acquired major PNG gold producer Lihir Gold last year and is in an equal joint venture with Harmony Gold for the Hidden Valley mine and the significant Wafi Golpu gold-copper project in Morobe province.