Wednesday, February 4, 2009

Verizon CFO Doreen Toben to Retire in 2009

Doreen A. Toben, executive vice president and chief financial officer of Verizon Communications, plans to retire around mid-year 2009. A successor to Toben will be named shortly. As CFO since 2002, Toben has been involved in virtually all of Verizon's strategic initiatives and significant decisions, including its investments in wireless broadband, fiber to the home and global Internet backbones. Prior to being CFO, Toben was senior vice president and chief financial officer for Verizon's Domestic Telecom group, with responsibility for finance and strategic planning.

Since the mid-1990s, Toben has played a key role in the series of mergers that created Verizon. She was vice president and controller for Bell Atlantic in July 2000, when the company merged with GTE to form Verizon. Prior to that, she was the chief financial officer of Bell Atlantic's telecom operations, and had been vice president of finance and controller when Bell Atlantic merged with NYNEX in August 1997. Toben began her career in 1983 at AT&T in treasury and served in positions of increasing responsibility in the areas of finance and strategic planning there, and subsequently at Bell Atlantic.