Otis: New Members of the Board of Directors

United Technologies Corp. ("UTC") has announced the appointments of an executive chairman and members of the board of directors for Otis.

Christopher Kearney, currently a member of the UTC Board of Directors, will serve as executive chairman of Otis. 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.

The new board, which becomes effective upon the completion of Otis' planned separation from UTC in 2020, is comprised of executives from a diverse range of companies in sectors including high-tech manufacturing, asset management, consumer products, professional services and transportation. They have led companies as CEOs, presidents, chief operating officers and chief financial officers.

The board members

Jeffrey H. Black served as senior partner and vice chairman of Deloitte LLP. In addition to his management roles, he held the position of vice chairman of Deloitte's board of directors and chaired its governance and risk committees. Prior to Deloitte, Black was a partner at Arthur Andersen. He serves as a director of Vantage Airport Group, Ltd. (non-public) and Basin Holdings LLC (non-public).

Kathy Hopinkah Hannan is a former partner with KPMG where she had a distinguished 30-year career and held several global leadership roles. She served on KPMG's U.S. and Americas Management Committees, held the role of vice chairman of human resources, and was a leader in KPMG's tax practice. She serves on the boards of Annaly Capital Management and Blue Trail Software Holding (non-public).

Shailesh G. Jejurikar is the CEO of Procter & Gamble's (P&G) Fabric & Home Care, the company's largest business sector. Jejurikar's career at P&G spans 30 years and includes leadership roles across a variety of businesses in both developed and developing regions including North America, Europe, Asia and Africa. He also serves as P&G's Executive Sponsor for Global Sustainability.

Christopher J. Kearney served as the non-executive chairman of SPX FLOW, Inc. and as chairman, president & CEO of SPX FLOW. He held the same roles at SPX Corporation prior to the spin-off that created SPX FLOW. Kearney joined SPX Corporation as vice president, secretary and general counsel. He serves as a director of Nucor Corporation and United Technologies.

Judith F. Marks is president and CEO of Otis. She joined United Technologies, as president of Otis, from Siemens, where she served as CEO of Siemens USA and Dresser-Rand, a Siemens business. Previously, she held senior leadership roles at Lockheed Martin and IBM. She is a director of Hubbell, Inc.

Harold W. McGraw III is the former chairman, president & CEO of the McGraw-Hill Companies. He was also the president and CEO of the McGraw-Hill Companies following his role as president and chief operating officer. McGraw is a director of Phillips 66 Company and United Technologies.

Margaret M. Preston served as managing director, Private Wealth Management for TD Bank with responsibility for overseeing the northern U.S. region. She was also a managing director and regional director for U.S. Trust. Earlier in her career, Preston held senior leadership roles at Mercantile Safe Deposit & Trust Company and Deutsche Bank. She currently serves as a director of McCormick & Co., Inc.

Shelley Stewart Jr. served as chief procurement officer at DuPont de Nemours. Previously he was senior vice president of operational excellence and chief procurement officer at Tyco International. Stewart held leadership roles at Invensys PLC, Raytheon Company and United Technologies. He is currently the managing partner of Bottom Line Advisory LLC and serves as a director of Kontoor Brands.

John H. Walker has served as non-executive chairman, executive chairman, and chairman and CEO for Global Brass and Copper Holdings, Inc. Prior to this, he was president and CEO of The Boler Company. He also served as CEO of Weirton Steel Corporation and held senior management roles in Kaiser Aluminum Corporation. Walker serves as lead independent director for Nucor Corporation and as a director of Owens-Illinois, Inc.

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