Michael Hodgson has been appointed head of corporate development at Channel 4, replacing Gerry Bastable, who left in April after only three months in the role.
Hodgson joins C4 from the venture capitalist 3i, where he was investment director of the media team, and will take up the role at the end of the month.
He will oversee the next stage in the development of C4's portfolio. The broadcaster, which operates E4, E4 + 1 and Film Four, is understood to be planning the launch of a new television channel on Freeview.
Chief executive Mark Thompson said in June that plans for the Freeview channel were still in their early stages.
Industry rumours suggest that a factual and documentary channel is on the cards for the DTT platform and the broadcaster has never confirmed rumours that surfaced last year about the launch of a gay TV channel.
Hodgson will report to commercial director Rob Woodward, who said: "Channel 4's portfolio of new businesses has matured to the point of break even and we are now planning the next stage of development."