$OTIS (OTIS WORLDWIDE) — 8-K: Otis CEO Judy Marks to retire; successor expected in first half of 2027

Otis announced CEO, Chair and President Judy Marks will retire upon appointment of her successor, expected in the first half of 2027. The Board has begun a search with Spencer Stuart, considering internal and external candidates, overseen by a committee of independent directors. Marks will serve through July 31, 2027, and as senior advisor if a successor is named sooner. Under her leadership, Otis grew its service portfolio about 25% to approximately 2.5 million units, returned $8.4 billion to shareholders including $3.4 billion in dividends and $5 billion in buybacks, and delivered a 77% total shareholder return.

Otis announced CEO, Chair and President Judy Marks will retire upon appointment of her successor, expected in the first half of 2027. The Board has begun a search with Spencer Stuart, considering inte