In nearly a year from now, ABC News president Ben Sherwood will take the reins from Anne Sweeney as co-chairman, Disney Media Networks and president of Disney/ABC Television Group, as Sweeney is set to depart from the company in January 2015.

Effective immediately, Sherwood will begin the transition serving as co-president of Disney/ABC Television Group alongside Sweeney. He will also continue to oversee ABC News until his successor is named.

During his four-year tenure as president of ABC News, Sherwood drove Good Morning America to number one, brokered an online partnership with Yahoo that serves close to 100 million people a month, and launched Fusion, a joint venture news and lifestyle network with Univision.

Sherwood, also an accomplished author and journalist, 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. He also oversees ABC News Radio, ABCNEWS.com, satellite service NewsOne and ABC News NOW. (ABC News reaches a combined audience of roughly 270 million people a month on television, on radio and online.)

His new role will encompass news, as well as the oversight of all Disney channels and the ABC networks.

Sweeney announced her intended departure from Disney two weeks ago. After nearly two decades at the helm of the House of Mouse’s global entertainment and news properties, she has expressed an interest in pursuing a career in TV directing.