Ari Bousbib, who has led Otis Elevator on a steady, upward climb for the past six years as its top executive, has been named president of United Technologies Corp.’s commercial companies.
He has also been named an executive vice president for the Hartford-based conglomerate, which owns Otis. He will report to UTC President and Chief Executive Officer Louis R. Chenevert.
Succeeding Bousbib as Otis president is longtime Otis executive Didier Michaud. Both appointments are effective immediately. Otis is based in Farmington.
In his new position Bousbib, 47, will have operating responsibility for the corporation’s commercial businesses, which include Otis, Carrier, UTC Fire & Security, and UTC Power. The commercial business unit presidents will report to Bousbib.
Bousbib joined UTC in 1997 as vice president for strategic planning. He oversaw changes to the corporation’s business portfolio, including the acquisition of Sundstrand and the divestiture of UTC’s automotive business. He was named chief operating officer at Otis in December 2000, and he was named Otis president in April 2002.
Otis Revenues Doubled
Under Bousbib, Otis revenues nearly doubled, operating profits tripled and the company increased its global market share.
“This impressive operating record makes Ari uniquely qualified for his new role,” Chenevert said. “Ari’s appointment reflects the opportunities in front of our commercial businesses. He will work closely with the business units’ leadership to execute strategic initiatives including bringing energy efficient, environmentally friendly solutions to urbanizing markets around the world. As I organize my leadership team for success, this change will optimize UTC’s ability to capture market opportunity and deliver strong results.”
Bousbib will also take over United Technologies International Operations, which has offices in Beijing, Singapore, Brussels, Moscow and Seoul.
Michaud, 50, joined Otis in June 1981 and he has held key leadership positions in the company’s European operations.
In July 2004, he was named president of Otis’ United Kingdom and Central Europe operations.
