“New Otis” Focuses on Digitization, Urban Growth

The 166-year-old Otis has seen a lot of changes along with its vivacious growth since being acquired by United Technologies Corp. (UTC) as a wholly owned subsidiary in 1976. We’ve covered the slow burn to its spinoff from UTC for a while now and spotlighted products that, as with other major OEMs, move it into the realm of high technology with an emphasis on remote monitoring and predictive maintenance. As can be seen in this Fortune interview, Otis CEO Judy Marks explains that the company plans to be “the future of urban mobility; basically, the future of moving people safely.”

Look to April 2020 for the completion of the spinoff, which will put Otis back on the New York Stock Exchange. See the interview above for Marks’ explanation of Otis’ plans, a little on the recently completed Empire State Building elevator modernization (to tide you over until reading our Project of the Year-winning feature on it in our January 2020 issue) and much more.

Leave a Reply

Your email address will not be published.