Otis Worldwide

CEO Judy Marks has executed the service‑driven strategy since spin, delivering recurring growth, steady margin expansion, and strong cash generation. Execution on modernization and cost programs appears credible.

A notable 2025 shareholder vote opposed executive compensation, indicating potential misalignment on pay; the board will need to address this. Operationally, China exposure and tariff headwinds require careful navigation. Overall stewardship has been good, but we mark governance down slightly due to the say‑on‑pay outcome.