Burbank, California – The Walt Disney Company [NYSE: DIS] announced on March 24 that ABC News President Ben Sherwood will assume the title of co-chairman, Disney Media Networks and president, Disney/ABC Television Group on February 1, 2015. Anne Sweeney, Co-Chair, Disney Media Networks and President, Disney/ABC Television Group, will remain in that capacity through January 2015.

Effective immediately, Sherwood will begin the transition as Co-President, Disney/ABC Television Group. He will also continue to oversee ABC News until a successor is named.

In making the announcement, Robert A. Iger, Chairman and CEO of The Walt Disney Company, said, “Ben is one of those unique executives who combine rich creative experience with great business acumen. He’s also focused, strategic, and competitive, as evidenced by the success of GMA, the Yahoo deal that delivered ABC News online dominance, and his vision behind our new cable and digital joint venture, Fusion. These reasons, and many others, make Ben the ideal candidate to oversee the future of the Disney/ABC Television Group.”

Sweeney added, “It was Ben’s intense passion and incredible insight that made us confident he’d do great things as President of ABC News. Over the years, he has moved from success-to-success and helped create a more vibrant, collaborative and powerful News division that embraces innovation and risk-taking. Ben’s now set to bring those same attributes to bear for the larger Group, and I could not be more thrilled. This announcement simply highlights the fact that our talent and succession planning process works.”

Sherwood stated, “I am honoured and humbled that Bob has entrusted me with this great responsibility and amazing opportunity. I’m also deeply grateful to Anne, who has built and led a powerhouse division over the last 10 years. I am looking forward to her counsel and wisdom during this transition period. I must also thank the remarkable people of ABC News who inspire me every day with their creativity, dedication and spirit. I will keep their commitment to excellence and their fierce competitiveness firmly in mind as I move forward to meet this exciting new challenge.”

Award-winning journalist, best-selling author and digital media entrepreneur Ben Sherwood was named president of ABC News in December 2010. He is responsible for all aspects of ABC News’ broadcasts, including World News with Diane Sawyer, Nightline, Good Morning America, 20/20 and This Week with George Stephanopoulos. In addition, Sherwood oversees ABC News Radio, ABCNEWS.com, satellite service NewsOne and ABC News NOW. ABC News reaches a combined audience of well over 270 million people a month on television, on radio and online.