Judy Marks

Judy Marks became President and CEO of Otis Worldwide Corporation in 2020, leading the company through its spin-off from United Technologies (now part of RTX Corporation) into an independent publicly traded company. She was subsequently elevated to Chair of the Board in 2021, making her one of a small number of women leading a major industrial company in all three roles — Chair, President, and CEO. Otis is the world's largest elevator and escalator manufacturer and service provider, with a history dating back to Elisha Otis's invention of the safety elevator in 1853. The company maintains over 2.2 million elevator and escalator units worldwide — the largest service portfolio in the industry. This installed base is the foundation of Otis's business model: while new equipment sales are important, the real value lies in the recurring service contracts (maintenance, repair, and modernization) that generate approximately 60% of revenue with significantly higher margins than new installations. Under Marks's leadership, Otis has focused on several strategic initiatives: expanding the service portfolio through conversions of competitor-maintained units to Otis service contracts; deploying the Otis ONE IoT platform, which connects elevators to the cloud for predictive maintenance and performance optimization; growing modernization revenue as the global elevator fleet ages; and navigating the Chinese market, where new construction has slowed but the modernization opportunity is enormous. Marks's decisions on service pricing, digital investment, China strategy, and capital allocation between organic investment and shareholder returns are the key drivers of Otis's stock.