Mr King cited some of his major achievements over that time as the CUBE business plan, the Cell and CUBE initiatives and the Ignite Chamber of Commerce business awards.
Mr King said the business environment would continue to change as a result of the internet revolution and "we need to be able to adapt to this change to continue to drive a sustainable and diverse Wanaka business community."
"Infrastructure, affordability and skilled labour will continue to be challenges for all of us," he said.
Mr King was elected chairman in 2012.
The elected executives are Mike Toepfer, from Aspiring Law (re-elected), Kelly Good, from Ray White, (re-elected) and Kathy Dedo, from LINK Upper Clutha, who was newly elected.
The new chairperson will be elected next Wednesday.
