United Technologies Hires Judy Marks to Lead Otis Elevator Manufacturing Division

By Allison Prang Features Dow Jones Newswires

United Technologies Corp. has hired the chief executive of Siemens AG's U.S. unit to lead its Otis elevator and escalator manufacturing business.

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Siemens USA CEO Judy Marks will replace Philippe Delpech as president of the struggling subsidiary, and report to United Technologies's CEO Greg Hayes. Mr. Delpech left in July "to accept another opportunity in Europe, " the company said earlier this year.

Mr. Hayes called Ms. Marks "an innovator and accomplished leader global leader with a proven record of driving strategic growth."

In addition to Siemens's U.S. operations, Ms. Marks also leads Dresser-Rand, a Houston-based supplier for the oil, gas and power business that Siemens closed a deal to buy in 2015.

United Technologies reached a deal in September to buy Rockwell Collins Inc. for $23 billion.

However, that move could trigger additional portfolio changes and people familiar with the company's plans told The Journal it is reviewing whether to break up some of its units.

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Ms. Marks, who joined Siemens after serving as president of two operating entities for more than eight years, also serves on the board of manufacturing company Hubbell Inc.

Shares in United Technologies fluctuated between gains and losses in Monday trading, and recently were up 0.11% to $118.36.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

October 09, 2017 15:12 ET (19:12 GMT)