Verizon Communications Inc. said Thursday that Chief Financial officer Doreen A. Toben will retire from the office in the middle of this year.

Toben, 59, has worked as the company’s CFO since 2002 and began her career at AT&T in treasury in 1983.

Verizon will name a successor soon, said it. Shares in the company rose 58 cents to close earlier at $31.19.