He has been a prominent member of the NFRN and became north London president and district executive shortly after joining in 1977.
He has been a national councillor for the organisation since 1998.
His other roles include chairman of NFRN Mutual and board representative on the Joint Industry Group, which tackles newspaper and magazine supply issues.
Wagg’s term of office will last for one year when he is due to step down in favour of Mahendra Jadeja, now vice-president.
Sam Whiteside has been elected deputy vice-president and will succeed Jadeja as president.
Referring to his new role, Whiteside said: “I shall make it my first priority to get the membership interested in the federation through securing our position in the industry and strengthening NFRN subsidiaries.”