Otis falls after CEO Marks to retire next year

Otis Worldwide

15/09/2026 14:45

** Shares of elevator maker Otis OTIS.N down about 1.4% at $69 in early trading
** CEO Judy Marks is retiring after leading Otis through its transition into a standalone company following its 2020 spinoff from United Technologies
** Marks, who has been CEO for seven of her nine years at Otis, will continue to lead through July 31, 2027
** A committee of independent directors is looking for a successor
** The board committee, supported by executive search firm Spencer Stuart, will consider both internal and external candidates for the role
** Including session's moves, shares down 21.1% YTD

 (Reporting by Apratim Sarkar in Bengaluru)
 ((Apratim.Sarkar@thomsonreuters.com))