Walt Disney Co. named ABC News President Ben Sherwood as co-chairman of its media networks, filling the vacancy created by the planned departure of Anne Sweeney in January.

Sherwood will begin the transition immediately as co-president of the Disney/ABC Television Group and will continue to oversee news until a successor is named, the Burbank, California-based company said today in a statement.

Disney Chairman and Chief Executive Officer Robert Iger is moving quickly to fill a key executive role that oversees the company’s largest division. Sherwood will work alongside John Skipper, who runs ESPN and is co-chairman of the media networks.

Disney, the world’s largest entertainment company, fell 0.8 percent to $79.74 at 1:02 p.m. in New York. The stock had risen 5.2 percent this year as of March 21.