Alex Graham, who has sat on the trust since 2012, was chosen from a list of nominees assembled by a committee headed by the former Observer editor Will Hutton.
He succeeds Liz Forgan, the former Guardian journalist who has also held senior positions at Channel 4 and the BBC, who has been chair since 2003.
“I am delighted to announce that Alex Graham has been appointed chair of the Scott Trust,” said Forgan in an email to staff. “Alex’s appointment comes at the end of an open and rigorous process. He will become the seventh chair of the Scott Trust and will take over from me later this year.”
The selection process began earlier this summer following the former editor-in-chief Alan Rusbridger’s decision in May not to take up the post.
Graham is a director of the Hampstead Theatre, trustee of the arts charity the Creative Society and chair of the Sheffield Documentary festival.
His career in TV and print journalism began at the Bradford Telegraph & Argus, before he moved into TV at London Weekend Television and then Diverse Productions, where he edited the Channel 4 current affairs programmes Diverse Reports and The Media Show.
In 1987, he founded Wall to Wall Media, maker of hit TV shows including The Voice and Who Do You Think You Are? as well as the Oscar-winning documentary Man On Wire. In 2007, the company was sold to rival independent producers Shed Media, which in turn sold a majority stake to Time Warner in 2010.
He stood down as chief executive of Wall to Wall in October 2013, nine months after being appointed to the Scott Trust.
The Scott Trust oversees Guardian Media Group, which owns the Guardian, the Observer and other assets. Its core goal is “to secure and preserve the financial position and editorial independence of the Guardian in perpetuity”.
Forgan said: “I have been truly honoured to serve as chair since 2003. The past 13 years have been an extraordinary period in the life of the Guardian.
“There will be a proper goodbye from me later but, for now, I am delighted we have appointed a successor who will continue to provide the strong leadership required to guarantee the editorial integrity of the Guardian and a financially sound future for the Guardian Media Group. Please join me in congratulating Alex on his appointment.”