Paul said: "I'm pleased to have been elected as chairman and thank the board for the confidence shown in me.
"The hard work starts now and the Trust is determined to be a strong voice speaking up on behalf of the fans of Cardiff City. We intend to be a very active board and thank members for their support so far."
Fellow board member Tim Hartley was chosen as Trust vice chairman and Geraint Jones was appointed by the board to serve as secretary.
The other members of the board are Martin Bale, David Craig, Tracey Marsh, Keith Morgan, Dave Sugarman, Paul Russell and Anthony Wedlake. All are dedicated Cardiff City fans.