Otis CEO Judy Marks To Retire In 2027, Board Begins Succession Search

Judy Marks, Chief Executive Officer (CEO) of Otis Worldwide, is set to retire next year after helping lead the elevator manufacturer through its transition into a standalone company following its 2020 spin-off from United Technologies.

Marks, who has served as CEO for seven of her nine years at Otis, will continue in the role through July 31, 2027. If a successor is appointed earlier, she will serve as a Senior Adviser to support the transition.

An independent committee of Otis’ Board of Directors, supported by executive search firm Spencer Stuart, is conducting the succession process.

Before joining Otis, Marks served as CEO of Siemens USA and Dresser-Rand, a Siemens business focused on energy and industrial equipment.

With more than 40 years of industry experience, Marks has held senior leadership positions at IBM, Lockheed Martin and Siemens AG, where she served as CEO of Siemens USA and Dresser-Rand. During her tenure at Otis, she has led digital and cultural transformation initiatives, including IoT-enabled service solutions, predictive maintenance analytics, AI-driven dispatching systems and connected elevator technologies. She serves on the Boards of Otis Worldwide Corporation, Caterpillar Inc., AdvanceCT, the Business Roundtable and the US-China Business Council. She holds a degree in electrical engineering from Lehigh University.

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