The Guardian’s parent company has appointed Anna Bateson as its new chief executive, shortly after the business announced its best financial results in recent years.

Bateson previously spent four years at Guardian Media Group (GMG), where she helped develop the company’s voluntary contributions strategy which has seen millions of readers contribute towards the cost of running the news organisation without it installing a paywall.

Challenges she faces include the risk of a potential recession causing a downturn in advertising income, as well as the rapidly increasing cost of paper, which is putting pressure on the economics of running a print newspaper. The company has already warned that next year will be tougher for the industry.

Bateson briefly served as GMG’s interim chief executive in 2020, before being replaced on a permanent basis by Annette Thomas. Thomas left the company at the end of June 2021 after 15 months and was replaced on an interim basis by the chief financial officer, Keith Underwood.

Charles Gurassa, the chair of the GMG board, announced Bateson’s return to the company. He said: “Her deep understanding and experience of the Guardian and of digital media and marketing, combined with her significant leadership experience mean she is very well placed to lead the Guardian into the future, working in partnership with our editor-in-chief, Katharine Viner, and with the wider executive team.”

Bateson is currently the chief executive of the beauty brand Josh Wood Colour and has previously held marketing roles at YouTube, ITV and MTV. She said: “I am delighted to be returning to the Guardian, an organisation whose purpose and strategy I believe in so strongly and whose continued success I care so passionately about.”

GMG produced a rare cash surplus last year after rapidly increasing revenues from digital audiences and offsetting the continuing decline in income from its British print newspapers.