The Walt Disney Company (NYSE: DIS) today announced that ABC News President Ben Sherwood, who successfully steered ABC News to new heights over the past several years, including driving "Good Morning America" to #1, brokering a landmark partnership with Yahoo to create the #1 news and information online network, and launching Fusion, a joint venture news and lifestyle network with Univision, 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, Mr. 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.”
Ms. 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."Mr. Sherwood stated, "I am honored 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."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts