(Fortune) -- Doreen Toben, CFO of Verizon (Charts), ranks No. 36 on Fortune's 2006 list of 50 Most Powerful Women.

The second-largest U.S. telecom company is building a cutting-edge fiber network to deliver TV and faster Internet. Toben oversees Verizon's strategic planning, as well as its day-to-day finances. Wall Street is finally starting to reward the company for its high-stake investments. The stock has risen more than 20% this year.

By the key criteria Fortune uses in assembling its annual list - the size, importance, and health of each business in the global economy, and the momentum of each woman's career (along with her social and cultural influence) - there's no question that the power of women in the corporate sphere is rising.

Indeed, it could be called the year of the Most Powerful Woman CEO. The top seven positions on Fortune's 2006 Most Powerful Women list are held by CEOs.

Some other powerful women on the list include: Sallie Krawcheck, Citigroup (Charts); Susan Arnold, Procter & Gamble (Charts); Charlene Begley, General Electric (Charts); Mary Minnick, Coca-Cola (Charts); Linda Dillman, Wal-Mart (Charts); and Anne Sweeney, Disney (Charts).

Next: Full list: 50 Most Powerful Women at http://money.cnn.com/popups/2006/fortune/mostpowerfulwomen/1.html

Plus: Most Powerful Women: 10 Highest-Paid at http://money.cnn.com/popups/2006/fortune/womenpay/index.html