Otis searches for new CEO after Marks

Otis Worldwide announced that its CEO, Judy Marks, will retire in July 2027 after nine years with the company, including seven as CEO. The company has initiated a search for her successor, both internally and externally, through a selection committee composed of the Board of Directors and a specialized consulting firm. Marks led the company's transformation into an independent entity and expanded its service and maintenance operations, which now serve as the main drivers of growth, with second-quarter sales rising by 7% and service sales by 11%. Investor reaction was limited, with shares falling by 1.4% following the announcement. The selection of the next CEO is expected to be crucial in ensuring the continuation of the company's strategic focus, particularly on digital transformation and the operation of smart solutions.

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