The Travel Show is NEXT WEEK! Incredible giveaways, show only deals, kid’s activities, food and beverage sampling, and so much more!

With New Otis President, UTC Taps First Woman To Head Subsidiary

United Technologies Corp. announced Monday the appointment of a new president of Otis elevator, an industry executive who is the first woman to head a subsidiary of the aerospace and building systems conglomerate.

Judy Marks succeeds an interim leadership team of two executives who took over in July when Philippe Delpech stepped down as head of the Farmington-based company. He had held the top job since 2015.

"Judy is an innovator and accomplished global leader with a proven record of driving strategic growth," said Greg Hayes, chief executive officer of UTC.

Marks is CEO of Siemens USA, leading operations and services in the U.S. in electrification, automation and digitalization.

She also is CEO of Dresser-Rand, a Siemens business that serves the oil and gas industries. In that job, Marks is responsible for operations and strategy. She is credited with leading the integration of Dresser-Rand following its acquisition by Siemens.

Marks also has held leadership posts at defense and aerospace manufacturer Lockheed Martin Corp. and IBM Corp.

Otis posted sales of nearly $11.9 billion in 2016, about 21 percent of UTC’s sales. Revenue was down slightly from the previous year as Otis continues to struggle in China, its biggest market.

A flagship business of UTC, Otis emerged slowly from the deep recession of 2007-09 that hammered real estate in the U.S. and from a downturn in office and residential construction in China. It is UTC’s largest market, characterized by a landscape of high-rise towers in which elevators are indispensable.

Otis is on track to install 525,000 elevators in China this year, compared with 7,000 in the U.S., Hayes said at a conference in September.

Akhil Johri, UTC’s chief financial officer, told investor analysts in July that the “first step is to start growing earnings at Otis,” cautioning that “it will take a little time.”

Otis is making a push for broader use of digital technology that includes the collection of data from cell networks to tap information about equipment performance. The intent is to expand productivity apps and analyze customer interactions and data to flag potential service problems, saving time and money in elevator service calls.

Other segments at UTC include jet engine maker Pratt & Whitney; UTC Climate, Controls & Security, which makes Carrier heating and cooling equipment and buildings security systems; and UTC Aerospace Systems, a manufacturer of aerospace parts and components.

The appointment of Marks, who earned a bachelor's degree in electrical engineering, marks a new direction for UTC.

Its subsidiaries have, until now, been led by men. Many were drawn from male-dominated engineering schools.

General Electric Co. also elevated a woman recently to a top post. In a management shake-up announced last week, the industrial, transportation, energy and medical equipment conglomerate said Jamie Miller, head of its transportation business, will take over as chief financial officer starting Nov. 1.

Copyright © 2018, CT Now
48°