Schwarz, currently director of commercial and corporate development at the broadcaster, recently helped negotiate the deal that will see Channel 4 handle advertising sales on UKTV’s channel portfolio for 10 years.
She joined Channel 4 from GCap Media in 2005 to oversee its 4 Digital venture, which was to include a national commercial DAB multiplex and ten new digital radio stations to rival the BBC.
However, Channel 4 pulled the venture in 2008 after advertising revenue collapsed in the wake of the financial crisis.
Her departure comes amid a restructure at the broadcaster led by recently appointed chief executive David Abraham. The changes will see 25% of Channel 4’s senior management team cut.
As part of the restructure, Channel 4 is to merge all commissioning and creative activities to create one cross-platform content division.