Rice will open Matthew Warchus' fourth season as artistic director with her company's first production, also titled Wise Children.
The production will be a stage adaptation of Angela Carter's novel — from which the company takes its name — about twin chorus girls and their bizarre theatrical family. A second production will then follow at the venue.
Created and led by the outgoing Shakespeare's Globe AD, Wise Children was recently announced as a new Arts Council National Portfolio Organisation for 2018-22. Based in the south west, the theatre company will create ensemble work to tour nationally and internationally.
On the announcement Warchus said: "Emma and all she stands for is symbolic of the optimism and irrepressible spirit that has kept The Old Vic at the forefront of artistic adventure for the last two centuries."
Rice added: "It will come as no surprise that this first production will be an adaptation of the novel, Wise Children — "What a joy it is to dance and sing!" I am following in extraordinary footsteps and grateful to Matthew Warchus and his team for welcoming Wise Children with such brave and open arms."
''Wise Children will run at the Old Vic, dates are yet to be announced."
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