Otis CEO Judy Marks Announces Retirement for 2027

Judy Marks, the CEO and board chair of Otis, announced her retirement effective in the first half of 2027. Marks joined the company in 2017 and oversaw the 2020 spin-off of Otis into an independent publicly traded company. During her tenure, she shifted the company's investment strategy toward a higher-margin, recurring-revenue service business.

Marks will remain in her current role until July 31, 2027, though she may transition to a senior advisor role if a successor is appointed before that date. The Otis Board of Directors has launched a search for a new CEO, evaluating both internal and external candidates.

In a separate operational move, the company plans to relocate its headquarters to West Hartford next year.