Verizon Communications Inc. (NYSE:VZ) President and Chief Operating Officer Dennis F. Strigl today informed the Board of Directors that he intends to retire from the company by the end of 2009, after 41 years in the communications industry.
Strigl is responsible for the operations of Verizon’s network-based businesses – Verizon Wireless, Verizon Telecom and Verizon Business -- as well as Verizon Services Operations, which provides financial, real estate and other services to all of the company’s operations. He is widely recognized as a key architect of the wireless industry, and of Verizon Wireless, where he served as president and chief executive officer until assuming his current role in 2007.
Strigl said, “Verizon has become a world leader in communications innovation and operational excellence. I believe that we have the ability and the will to grow and take share from our competition, even in uncertain times. Because we have the right leadership team in place to continue our success in the marketplace, I believe that this is an appropriate time to announce my retirement.”
Verizon Chairman and Chief Executive Officer Ivan G. Seidenberg called Strigl’s contributions to Verizon and the communications industry “legendary.” He said: “Denny has the innate ability to drive success by fostering innovative thinking, motivating his teams to put the customer first and inspiring growth. As a result, he has been a major force in the transformation of Verizon, positioning the company to lead in all of our strategic growth areas. His leadership at Verizon and his deep roots in the communications industry have created a tremendous legacy and a blueprint for us to follow. I look forward to working with him during the transition for the rest of 2009, and we wish him the best in whatever endeavor he chooses to succeed in next.”
Strigl began his career in the communications industry in 1968 with New York Telephone and held positions at AT&T and Wisconsin Telephone before becoming vice president of American Bell Inc. In 1984 he became president of Ameritech Mobile Communications, where he was instrumental in launching the nation’s first cellular network in Chicago.
Strigl serves on the boards of Verizon Wireless, Eastman Kodak Company, PNC Financial Services Group and PNC Bank. Until recently, he also served as chairman of the Board of Trustees of Canisius College in Buffalo, N.Y.