Otis CEO Marks to retire next year, succession search underway

Otis Worldwide

15/09/2026 14:35

Sept 15 - Otis Worldwide OTIS.N CEO Judy Marks, who helped navigate the elevator maker's transition to a stand-alone company after its 2020 spin-off from United Technologies, is set to retire, the company said on Tuesday.
A committee of independent directors is looking for a successor. 
Marks, who has been CEO for seven of her nine years at Otis, will continue to lead through July 31, 2027; she will serve as a senior adviser if a successor is named before that. 
The board committee, supported by executive search firm Spencer Stuart, will consider both internal and external candidates.
Prior to leading Otis, Marks was CEO of Siemens USA and Dresser-Rand, a Siemens business focused on energy and industrial equipment.
Otis shares fell 1.4% in early trading.
     
     
     
     
     
     

 (Reporting by Miraanta Lowrance in Bengaluru; Editing by Joyjeet Das)
 ((miraanta.lowrance@thomsonreuters.com))