secwatch.observer — SEC 8-K summary
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Issuer:     Otis Worldwide Corp (OTIS)
CIK:        0001781335
Form:       8-K
Filed at:   2026-09-15T12:16:26+00:00
Accession:  0001140361-26-036566
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Otis CEO Judy Marks to retire in 2027; board launches CEO search
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- Judy Marks to retire as Chair, CEO, President; transition expected H1 2027 or by July 31, 2027.
- Transition agreement dated Sept 13, 2026; she'll serve as senior advisor through July 31, 2027 if successor earlier.
- CEO search led by Christopher J. Kearney; Spencer Stuart retained; internal and external candidates considered.
- Under Marks, service portfolio grew ~25% to ~2.5M units; returned $8.4B to shareholders ($3.4B dividends, $5B buybacks).
- Marks will assist in succession search and continue in current roles until transition date.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1781335/000114036126036566/0001140361-26-036566-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1781335/000114036126036566/ef20081992_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-036566

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer