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UTC Names Judy Marks, David Gitlin as CEOs of Future Independent Firms Otis, Carrier

Jeff Brody
Judy Marks

United Technologies Corp. (NYSE: UTX) has named company veteran David Gitlin as president and CEO of refrigeration systems provider Carrier and appointed Judy Marks, president of Otis since 2017, as CEO of UTC’s elevators manufacturing subsidiary.

"I'm pleased to announce these most important assignments as we make strong progress toward our goal of establishing both Carrier and Otis as stand-alone public companies and clear leaders in their respective industries," Greg Hayes, UTC chairman and CEO, said in a statement published June 3.

UTC announced in November its plans to split into three independent firms following the completion of its acquisition of Rockwell Collins. Pratt & Whitney and Collins Aerospace will make up UTC, while Otis and Carrier will spin off into two independent companies.

The conglomerate said Sunday the separation of Carrier and Otis is expected to conclude in the first half of 2020 and will not be affected by its proposed merger with Raytheon (NYSE: RTN).

"I have great confidence in Judy and Dave to drive strategic growth, lead their industries in innovation and customer focus, and maximize value creation for their respective shareowners, customers and employees,” Hayes added.

Gitlin most recently served as president and CEO of Collins Aerospace and is former president of UTC’s aerospace systems business. He brings years of experience in mergers and acquisitions, strategy and business development to the role.

Marks, a three-time Wash100 winner, joined UTC in 2017 as president of Otis. Prior to UTC, she served as CEO of Siemens USA and head of the conglomerate’s Dresser-Rand business. She also held senior leadership positions at Lockheed Martin (NYSE: LMT) and IBM (NYSE: IBM).

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