The company’s longtime COO will retire by the end of the year, Verizon said today, the same day it announced a 3.3 percent increase in its quarterly dividend to 47.5 cents.
Strigl said he’s retiring now because Verizon has “the right leadership team in place to continue our success,” he said in a prepared statement.
Strigl has overseen Verizon’s operations since 2007, when he moved over from Verizon Wireless, where he worked as president and CEO.
Verizon did not say who might replace Strigl. The company’s stock was down 3 cents at $30.12 about 45 minutes before the closing bell.