Burns replaces Luke Johnson who retires on 27 January, following two three-year terms. However, he joins Channel 4's board immediately as Chairman-Designate.
Burns is currently chairman of Abbey National plc, Glas Cymru (Welsh Water) and the Royal Academy of Music. He is also a non-executive director of Banco Santander and the Pearson Group and President of The National Institute of Economic and Social Research.
He is a former chief economic advisor and permanent secretary to the Treasury, chairman of Marks and Spencer and an independent adviser to the Culture Secretary on the BBC Charter Review.
Attention now shifts to the hunt for Channel 4's new chief executive, to replace Andy Duncan who leaves at the end of the year. Finance director Anne Bulford will lead Channel 4 on an interim basis in the event that Duncan leaves before his successor is in place.
The change in Channel 4's leadership comes at a crucial time for the broadcaster. It has been locked in talks with BBC Worldwide in recent months to seal a joint venture aimed at securing its future financial footing. However, such a deal has, despite the urgings of the Government through its Digital Britain policy initiative, so far failed to materialise.
It also faces a major programming upheaval after deciding to axe Big Brother after next year's series.
Outgoing chairman Johnson was a surprise choice when he was appointed Channel 4 chairman in 2004. Born in 1962, Johnson is often described as a serial entrepreneur, best known for his involvement with Pizza Express. He also founded Integrated Dental Holdings in 1996 and expanded it to the largest UK chain of dental surgeries. It was sold in 2006 for more than £100m.
Since 2000, Johnson has run Risk Capital Partners, a private equity dealmaker. In 2007, Risk Capital Partners acquired book seller Borders (UK) and 28 Books etc. shops in the UK and Ireland.
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