NEW YORK (AP) — Doreen A. Toben will retire as CFO of Verizon Communications around the middle of this year, the country's second-largest telecommunications provider said Thursday.
Verizon added that a successor will be named shortly.
Toben, 59, has served as the company's CFO since 2002 and began her career at AT&T in treasury in 1983.
Verizon's shares rose 58 cents to close earlier at $31.19.
The company last month reported fiscal 2008 profit of $6.43 billion, or $2.26 per share, up from $5.52 billion, or $1.90 per share, in the previous year. Revenue in 2008 rose 4.2 percent to $97.4 billion from a year earlier as the shrinking economy did little to dampen consumer appetites for wireless, Internet and TV service.