Otis Appoints Anurag Maheshwari Executive Vice President & Chief Financial Officer

Rhea-AI Summary

Otis Worldwide Corporation (NYSE: OTIS) has appointed Anurag Maheshwari as the new Executive Vice President & Chief Financial Officer, effective August 12. He takes over from Rahul Ghai, who is moving to a new opportunity. Judy Marks, Otis Chair, CEO & President, praised Maheshwari for his experience, particularly in the Asia Pacific region, where he led finance teams and strategic initiatives. Otis plans to release its second quarter earnings in late July, and both Maheshwari and Ghai will participate in the earnings call.

Positive

• Anurag Maheshwari's appointment is expected to strengthen Otis' financial leadership.
• Maheshwari has extensive experience in financial management and capital deployment.

Negative

• The transition may present challenges due to Rahul Ghai's departure, potentially affecting investor confidence.

He succeeds Rahul Ghai to lead financial activities at Otis

FARMINGTON, Conn., June 27, 2022 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Anurag Maheshwari as Executive Vice President & Chief Financial Officer, reporting directly to Otis Chair, CEO & President, Judy Marks. Effective August 12, Maheshwari will succeed Rahul Ghai, who has accepted a position outside Otis. 

"Anurag has championed our long-term strategy and understands how to drive growth and shareholder value. He has successfully led our finance teams in the highly diverse Asia Pacific region since spin," said Otis Chair, CEO & President, Judy Marks. "He brings deep knowledge and leadership experience with a successful track record of managing financial and operational performance, along with driving revenue, profit growth and capital deployment in publicly traded companies."

Maheshwari has proven experience as a chief financial officer and expertise across financial and business functions including investor relations, strategic planning, capital deployment, operations and P&L ownership.

Most recently, Maheshwari served as Vice President, Finance, IT and Chief Transformation Officer in the Otis Asia Pacific region. Before joining Otis, he served as Vice President, Investor Relations at L3Harris, leading the company's interaction with the investor community while driving strategic investment planning and capital deployment, and working closely with the company's Board of Directors. He began his career as a consultant and progressed through strategy, P&L, private equity and finance roles of increasing responsibility at United Technologies Corporation, Affinity Equity Partners and Harris Corporation.

"We are grateful for Rahul's service and many contributions, particularly his expertise and partnership as he helped to prepare our Finance and Investor Relations teams for our transition back to an independent, publicly traded company. He will work closely on a transition with Anurag through mid-August. We wish him success in his new endeavor," added Marks.

Consistent with prior years, Otis plans to release its second quarter earnings in late July. Both Anurag Maheshwari and Rahul Ghai will join Judy Marks on the earnings call to discuss the company's results and financial outlook.

About Otis

Otis is the world's leading elevator and escalator manufacturing, installation and service company. We move 2 billion people a day and maintain more than 2.1 million customer units worldwide, the industry's largest Service portfolio. Headquartered in Connecticut, USA, Otis is 70,000 people strong, including 41,000 field professionals, all committed to meeting the diverse needs of our customers and passengers in more than 200 countries and territories worldwide. For more information, visit www.otis.com and follow us on LinkedIn, Instagram, Facebook and Twitter @OtisElevatorCo.

Media Contact:
Katy Padgett 
+1-860-674-3047
Kathleen.Padgett@otis.com

Investor Relations Contact:
Michael Rednor
+1-860-676-6011
investorrelations@otis.com

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SOURCE Otis Worldwide Corporation

FAQ

Who is the new CFO of Otis?

Anurag Maheshwari has been appointed as the new CFO of Otis.

When will Anurag Maheshwari start his role as CFO?

Maheshwari will officially take over as CFO on August 12.

Who did Anurag Maheshwari succeed at Otis?

He succeeded Rahul Ghai, who accepted a position outside the company.

What experience does Anurag Maheshwari bring to Otis?

Maheshwari has extensive experience in finance and operations, particularly in the Asia Pacific region.

When will Otis release its second quarter earnings?

Otis plans to release its second quarter earnings in late July.