Otis Announces CEO Judy Marks to Retire in 2027

Otis Worldwide announced on 15 September 2026 that Judy Marks will retire as Chair, Chief Executive Officer, and President upon the appointment of her successor. The leadership transition is expected to conclude in the first half of 2027.

The board of directors initiated a formal search considering internal and external candidates, aided by executive search firm Spencer Stuart and supervised by independent directors. Marks will continue in her current role through 31 July 2027. If a successor starts earlier, she will remain as a senior advisor through that same date.

Marks joined Otis nearly nine years ago and led its separation from United Technologies Corporation in April 2020. During her tenure, the company expanded its service maintenance base by about 25% to approximately 2.5 million units worldwide. Otis currently employs 72,000 people, including 45,000 field professionals.

Since becoming an independent public company, Otis has returned $8.4 billion to shareholders, consisting of $3.4 billion in dividends and $5 billion in share repurchases, while delivering a 77% total shareholder return. Marks also oversaw acquisitions of non-controlling interests across subsidiaries in Spain, Japan, China, and India.