Judy Marks stands out as one of the few women at the helm of a Fortune 500 company, guiding Otis Worldwide Corporation, a leader in the elevator and escalator industry for over 170 years. Marks joined Otis as president in 2017 and transitioned quickly to CEO, successfully steering the company through a significant spin-off from its former parent, establishing it as an independent entity. In addition to her role at Otis, she serves on the board of Caterpillar, illustrating her influence in the corporate world.

Understanding Geopolitical Trends

In a recent discussion on the Inside the Strategy Room podcast, Marks and McKinsey’s North America Chair, Eric Kutcher, explored essential macro trends shaping Otis’s strategy. While many focus on electrification and generative AI, Marks emphasizes the necessity of looking beyond these issues. She identifies key global phenomena such as urbanization, aging populations, and digitalization as central to Otis’s operational and service strategies.

“When we think about geopolitics, we’re one of the ultimate local companies,” Marks remarked, noting that 2.3 billion people interact with Otis products daily across more than 200 countries. Her leadership philosophy centers on staying calm amid change and focusing on the company’s commitment to customer service and strategic execution.

Empowering Local Decision-Making

Marks discussed the importance of empowering local teams to make decisions, given the extensive reach of Otis with 1,400 operational territories. She asserted that maintaining a decentralized approach helps her distributed workforce service customers effectively amid daily activities that include executing 200,000 service calls and modernizing over 10,000 elevators globally.

“You have to give that authority, the tools, the processes, and the full support so our teams can serve their customers every day,” she emphasized.

Commitment to Sustainability

Marks highlighted sustainability as integral to Otis’s operations. Her perspective reflects a belief that corporate responsibility encompasses leaving a positive legacy in the communities they serve. This includes modernizing existing structures to implement more energy-efficient systems and minimizing environmental impact through advancements such as transitioning from hydraulic to modern traction elevators that eliminate oil use.

Internally, Otis actively works on reducing greenhouse gas emissions across its 17 manufacturing facilities and optimizing operations. “We’ve tuned the factories—whether it’s waste, using solar power,” Marks noted, reflecting a comprehensive approach to sustainability.

Role and Responsibilities of a CEO

Marks outlined the multifaceted role of a CEO, balancing strategic direction with stakeholder engagement. She believes clarity amid external and internal noise is crucial for effective leadership. “I think of my role in two categories—strategy and stakeholders,” she explained, indicating that successful leadership requires direct interaction with customers, employees, and regulatory bodies.

Her daily routine is extensive, typically beginning at 5:00 a.m. and involves constant communication across various time zones. Notably, she makes herself accessible to both customers and employees, establishing herself as an approachable leader.

Insights for Aspiring Leaders

Reflecting on her leadership journey, Marks advised potential CEOs to embrace change and uncertainty. “Get comfortable with change,” she urged, highlighting the need for decisive action even when complete information is unavailable. She also stressed the importance of strategic foresight, suggesting that future leaders develop their ability to think several steps ahead in a rapidly evolving business landscape.

“Change is around you every day—you have to get comfortable that you won’t be able to understand every last fact to drive a decision,” said Judy Marks.

Legacy and Vision for Otis

Marks envisions her legacy at Otis as a return to form for an iconic brand, striving to elevate the company’s position in the industry through excellence in service and customer experience. “To me, they’re two different things because when we can get to excellence in performance for every customer… I want to help us on that journey,” she reflected.