United Technologies Corp. (NYSE: UTX) ("UTC") announced on Thursday that Christopher Kearney, currently a member of the UTC Board of Directors, will serve as executive chairman of Otis moving forward. Judy Marks, who was previously appointed president & chief executive officer of Otis, will join the board as will current UTC director Terry McGraw.
The nine-member board will also include independent directors Jeffrey Black, Kathy Hopinkah Hannan, Shailesh Jejurikar, Margaret Preston, Shelley Stewart, Jr. and John Walker.
"I'm pleased to announce this important milestone as we prepare Otis to become an independent public company and continue the company's industry leadership," said Greg Hayes, UTC Chairman and CEO.
The new board, which becomes effective upon the completion of Otis' planned separation from UTC in 2020, is comprised of deeply experienced executives from a diverse range of companies in sectors including high-tech manufacturing, asset management, consumer products, professional services and transportation.
"I want to welcome each new member of the Otis board of directors and express our appreciation to Chris and Terry as they transition to Otis' board. These directors' impressive collective experience and expertise will deliver strong governance and support the company's priority of delivering superior returns to shareowners through economic cycles," Hayes added.
About United Technologies Corporation
United Technologies Corp., based in Farmington, Connecticut, provides high-technology systems and services to the building and aerospace industries. By combining a passion for science with precision engineering, the company is creating smart, sustainable solutions the world needs.