Abaunza and Schwarz will be responsible for the conception, development and execution of individual social action campaigns for each Participant film.
They will source non-governmental organisations and non-profit partners for specific campaigns, and work closely with Participant's marketing and digital divisions.
They will divide the Participant slate equally between them, and each campaign will have its own project producer who will report directly to them.
Abaunza and Schwarz will report to John Schreiber, executive vice president of the company's social action and advocacy division.
'Bonnie and Liana are the real deal: two dedicated social action leaders whose work has already helped make the world a better place,' Schreiber said. 'Their professional lives personify the Participant mission, and I am delighted to welcome them as colleagues.'
Since 2001, Abaunza served as director of Artists for Amnesty, a division of Amnesty International, while from 1993-2000 she served as vice president of Billabong Productions.
She is board chair of Artists for Amnesty and sits on the boards of the Latino Museum of History, Art & Culture and of Freedom House.
Schwarz recently served as political director for Laurie and Larry David and as an advisor to the David Family Foundation. She also served as executive director of the Stop Global Warming Virtual March, and director of special initiatives for the Natural Resources Defense Council.