- Push-out Score determined
- After less than three years in the position
- Praise, thanks and good wishes for Ghai
- Anurag Maheshwari taking over
(exechange) — Farmington, Connecticut, June 27, 2022 — Rahul Ghai, finance chief of Otis, leaves. As announced by Otis Worldwide Corp. in a news release and in a regulatory filing published on Monday, June 27, 2022, Rahul Ghai leaves his post as chief financial officer at the elevator and escalator manufacturing, installation and service company, after less than three years in the role, effective August 12, 2022.
Rahul Ghai’s duties as CFO will be taken over by Anurag Maheshwari, currently Vice President, Finance, IT and Chief Transformation Officer in the Asia Pacific region at Otis Worldwide Corp.
Career change
Rahul Ghai’s departure from the CFO post is explained as follows. Otis said: “Effective August 12, Maheshwari will succeed Rahul Ghai, who has accepted a position outside Otis.”
Ghai will be CFO at GE Aviation
“Rahul Ghai, Executive Vice President and Chief Financial Officer of Otis Worldwide Corporation has been named Chief Financial Officer of GE Aviation as Shane Wright, currently CFO and Chief Operating Officer of GE Aviation, prepares to retire after 34 years of service to GE,” General Electric said.
General Electric announced the move on Monday, June 27, 2022.
GE Aviation is a subsidiary of General Electric.
“Resigning”
Otis said: “Rahul Ghai, Executive Vice President and Chief Financial Officer, has provided Otis Worldwide Corporation (the “Company”) with notice that he will be resigning his position with the Company, effective August 12, 2022, to join another company.”
“Not a result of any dispute or disagreement”
“Mr. Ghai’s resignation was not a result of any dispute or disagreement with the Company,” Otis said.
Share price increase since June 2020
The announcement follows an increase in Otis Worldwide Corp.’s share price of 31% since June 2020.
In the position of CFO since 2019
Rahul Ghai became CFO of the Company in 2019.
Rahul Ghai has expertise across all financial functions including investor relations, FP&A, internal audit, tax and treasury.
Before joining Otis, Rahul Ghai served as Senior Vice President and CFO of Harris Corporation.
During his tenure as Harris CFO, the company produced double-digit earnings growth annually and delivered stock price appreciation that well outpaced the S&P 500.
Prior to Harris, Rahul Ghai held several executive-level finance roles at Aetna and United Technologies Corporation (UTC).
Rahul Ghai sits on the Board of Directors for Celanese Corporation.
He holds a bachelor’s degree in commerce from Delhi University and an MBA from Purdue University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Rahul Ghai’s move on a scale of 0 to 10.
exechange reached out to Otis and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 27.2022 ($).