• Jim Cramer and Bernardo Calleja to retire in early 2024

FARMINGTON, Conn., Sept. 28, 2023 /PRNewswire/ -- Otis Worldwide Corporation (NYSE: OTIS) announces the appointment of Tracy Embree as President, Otis Americas and Enrique Miñarro Viseras as President, Otis Europe, Middle East and Africa (EMEA), reporting directly to Otis Chair, CEO & President, Judy Marks. Effective Oct. 1, Embree will succeed Jim Cramer and Miñarro Viseras will succeed Bernardo Calleja. Otis is the world's leading company for elevator and escalator manufacturing, installation and service.

Embree joins Otis after 23 years with Cummins Inc. (NYSE: CMI), where she most recently served as Vice President and President of their Distribution Business. Leading change has been a consistent focus over the course of her career. Under her leadership at Cummins, she reshaped the Components segment portfolio, drove global growth in core business areas, and developed key technologies to ensure the business met high standards for global emissions compliance. Prior to her work at Cummins Inc., she held engineering and operations roles at Colgate-Palmolive.

"We are excited to welcome Tracy to our Otis team. She is an accomplished, results-oriented global business leader with a strong record of consistently delivering sales and margin expansion," said Marks. "Her vast experience leading product and service focused organizations within large, complex, industrial manufacturing businesses will serve her well at Otis as she continues to motivate teams and deliver quality and excellence to our customers."

Embree holds a bachelor's degree in chemical engineering from Massachusetts Institute of Technology and an MBA from Harvard Business School. She currently sits on the Board of Directors for Louisiana-Pacific Corporation and is a founding member of Extraordinary Women on Boards (EWOB).

Miñarro Viseras brings nearly 20 years of global, commercial, operational and P&L management experience with two highly-reputable multi-national organizations – Ingersoll Rand (NYSE: IR) (formerly Gardner Denver) and Emerson (NYSE: EMR), where he was responsible for critical segment operations such as sales, service, engineering, product management and manufacturing. In his leadership roles, he drove consistent growth and margin expansion, completed numerous bolt-on acquisitions and delivered exceptional customer service.

"Enrique's extensive global experience, with a focus on continuously elevating performance and boosting profitability, equips him with the right qualifications to successfully lead our diverse EMEA region" Marks continued. "He is able to strategically connect market needs with best-in-class technological and operational solutions to drive business growth, and he has a proven track record of successfully leading culture change by fostering a sense of ownership and accountability among team members."

Miñarro Viseras holds a doctorate in engineering, an MBA, and Master of Engineering and Management from Cranfield University in the United Kingdom, as well as a degree in industrial engineering from Universidad Politécnica of Valencia in Spain.

"There will be a short period during which Jim and Bernardo will support Tracy, Enrique and me to ensure a smooth transition and business continuity," Marks added. "We are grateful for Jim and Bernardo's more-than seven decades of combined and distinguished service with Otis. We wish them well in their next chapters."

About Otis
Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2 billion people a day and maintain approximately 2.2 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in Connecticut, USA, Otis is 69,000 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. To learn more, visit www.otis.com and follow us on LinkedIn, Instagram, Facebook and Twitter @OtisElevatorCo.

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