01—Abstract
Summary
Summary of the 8-K filed January 20, 2026. Cited figures are marked; the original filing is the authoritative source.
Otis Worldwide Corporation filed this Current Report on Form 8-K to disclose the appointment of Enrique Miñarro Viseras as Chief Operating Officer.
The Board of Directors appointed him on January 13, 2026, effective January 16, 2026. Mr. Miñarro Viseras, 48, has been with the Company since October 2023, most recently as President, Otis EMEA, a role he held from May 2025 to December 2025 as President, Otis EMEA & Latin America. Before joining Otis, he held senior roles at Ingersoll Rand, including Senior Vice President and General Manager positions from 2020 to 2023.
Under an offer letter dated January 14, 2026, his base salary increases to $820,000a and his annual short-term incentive target rises to 120% of base salary under the Executive Short-Term Incentive Plan. He will be eligible for an annual equity award beginning with fiscal year 2026, with a target value of $3,500,000 under the 2020 Long-Term Incentive Plan, though grant values may vary based on individual and Company performance. He will also receive an annual financial counseling reimbursement of up to $16,000 and an annual executive health exam.
The Compensation Committee approved an amendment to his existing employment agreement with a Company subsidiary to reflect these terms. The filing states there are no family relationships with any director, director nominee, or executive officer, and no reportable related-person transactions under Item 404(a) of Regulation S-K. The offer letter is filed as Exhibit 10.1.
02—Key points
Key Highlights
- Enrique Miñarro Viseras appointed Chief Operating Officer, effective January 16, 2026, by Board action on January 13, 2026
- Base salary increased to $820,000, effective upon his appointment
- Annual short-term incentive target increased to 120% of base salary under the Executive Short-Term Incentive Plan
- Annual equity award target value of $3,500,000 under the 2020 Long-Term Incentive Plan, beginning with fiscal year 2026
- Prior role as President, Otis EMEA (from October 2023), with a May 2025 to December 2025 title of President, Otis EMEA & Latin America
- Employment agreement amended by the Compensation Committee to reflect the offer letter's compensatory terms
- Offer letter filed as Exhibit 10.1; the filing reports no related-person transactions or family relationships
03—Questions
Frequently Asked Questions
Who was appointed Chief Operating Officer of Otis?
Enrique Miñarro Viseras, age 48, was appointed by the Board of Directors on January 13, 2026, effective January 16, 2026. He had been President, Otis EMEA since joining the Company in October 2023.
What is the new compensation package for the COO?
His base salary increases to $820,000, his annual short-term incentive target is 120% of base salary, and he is eligible for an annual equity award with a target value of $3,500,000 starting in fiscal year 2026. Equity grant values may vary based on individual and Company performance. He also receives up to $16,000 annually for financial counseling and an annual executive health exam.
What was Mr. Miñarro Viseras' background before Otis?
He served at Ingersoll Rand as Senior Vice President and General Manager, Global Precision and Science Technologies in 2023, and as Senior Vice President and General Manager, Industrial Technologies & Services EMEIA and Pressure & Vacuum Solutions from 2020 to 2023.
Does the appointment involve any related-party transactions or family relationships?
The filing states there are no family relationships between Mr. Miñarro Viseras and any director, director nominee, or executive officer. It also states he has no interest in any transaction reportable under Item 404(a) of Regulation S-K.
How is the new compensation documented?
The terms are set out in an offer letter dated January 14, 2026, filed as Exhibit 10.1. His existing employment agreement with a Company subsidiary was amended by the Compensation Committee on January 13, 2026, to reflect these terms.
04—Continue