Verizon Operating Chief Strigl To Retire From Post

   DOW JONES NEWSWIRES 
 

Verizon Communications Inc.'s (VZ) chief operating officer will retire by the end of the year, marking the second exit of a top executive this year.

Dennis Strigl, a 41-year communications-industry veteran, is widely seen as one of the most prominent leaders of the wireless-communications industry, Verizon said.

Strigl has also held positions at rival AT&T Inc. (T) and Wisconsin Telephone. He joined Bell Atlantic, the predecessor company to Verizon, in 1989, and eventually served as president and chief executive of Verizon Wireless until assuming his current role in 2007.

He continues to serve on a handful of boards, including those of Verizon Wireless, Eastman Kodak Co. (EK) and PNC Financial Services Group Inc. (PNC).

"He has been a major force in the transformation of Verizon, positioning the company to lead in all of our strategic growth areas," Chairman and Chief Executive Ivan G. Seidenberg said Thursday.

No successor was immediately named for Strigl.

Verizon has relied on the continued strength of its wireless business, maintaining growth in the area despite competition from rival AT&T and Apple Inc.'s (AAPL) iPhone, as well as a number of discount carriers.

In February, the company's then-chief financial officer, Doreen Toben, said she would retire after a two-decade career in which she integrated several major acquisitions. Toben served in that role for seven years and was succeeded by John Killan in March.

In July, Verizon posted a 21% decline in its second-quarter earnings as it suffered from a pullback in business spending.

Shares of the telecom giant were down 5 cents to $30.09 in recent trading.

-By John Kell, Dow Jones Newswires; 212-416-2480; [e-mail]