Hartford Business Journal

36 HARTFORDBUSINESS.COM | APRIL 6, 2026 POWE R 50 | HE ALTH CARE POWE R 50 | MANUFACTURING C hristopher J. Nelson is president and CEO of Stanley Black & Decker, the New Brit- ain-based tools and outdoor products manufacturer with global brands including DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER and Cub Ca- det. The company operates in dozens of countries and generates roughly $15 billion in annual revenue. J udy Marks is chair, CEO and president of Otis Worldwide Corp., the global manufacturer, installer and servicer of elevators and escalators. She joined Otis in 2017 as president, was named CEO in 2019 and in 2020 led the company's separation from United Tech- nologies Corp., establishing Otis as an independent, publicly traded company on Nelson joined Stanley Black & Decker in 2023 as chief operating officer, executive vice president and president of its Tools & Outdoor segment. In that role he helped streamline the company around its core brands and businesses while advancing the strategic roadmap for its largest division. He became CEO last year, overseeing the compa- ny's global workforce and operations. Nelson took the helm amid a multiyear turnaround effort aimed at improving Stanley's profitability and simplifying its portfolio. Recent moves have included cost-cutting initiatives and the sale of the Consolidated Aerospace Manufac- turing business for $1.8 billion. The company has also been reshaping its manufacturing footprint. Stanley Black & Decker in late February an- nounced plans to close its last remain- ing manufacturing plant in New Britain — ending more than 180 years of pro- duction in the city — while maintaining its corporate headquarters there. The move will lead to 300 local job cuts. Before joining Stanley Black & Decker, Nelson served as president of Carrier's heating, ventilation and air-conditioning segment, overseeing its global commer- cial and residential product portfolio. Earlier in his career, he held leadership roles with the U.S. Army, Johnson & Johnson and McKinsey & Co. existing operations and workforce. He said Habco is also investing in infrastruc- ture and internal processes to support future expansion. Montanari joined Habco in 2007 and led the acquisition of the company in 2012. His prior experience includes leadership roles at The Wiremold Co., C&M Corp., Respironics Novametrix and HID Global. He has taught Lean management at Eastern Connecticut State University and is chair of the Connecticut Business & Industry Association's board of directors. What qualities are most essential for effective leadership today? Great leadership starts with a balance of passion and compassion — a relentless drive to build something meaningful, paired with real care for the people whose lives are shaped by that effort. Humility is critical. Leaders must be will- ing to learn, admit what they don't know and evolve. Just as important is leading by example — being present, rolling up your sleeves and demonstrating the standards you expect from others. Ultimately, leadership is built on trans- parency and trust. In a world of constant change, people don't follow titles; they follow leaders who are authentic, ac- countable and consistent. What do you value most about living or doing business in Connecticut? Connecticut is home in the truest sense of the word. My wife and I have raised our daughters here, built our careers here, and invested deeply in the com- munities, schools and athletic programs that shape the state's character. the New York Stock Exchange. She became chair in 2022. Marks has more than four decades of leadership experience across industrial and technology sectors. Before joining Otis, she held senior roles at IBM, Lock- heed Martin and Siemens AG, where she served as CEO of Siemens USA and Dresser-Rand. Marks has pushed Otis to expand its digital capabilities. The company is in- vesting in connected elevator platforms, IoT-enabled predictive maintenance and AI-based dispatching systems to improve performance, safety and reliability in increasingly complex build- ings. Otis operates in more than 200 countries and territories, services over 2.4 million units and employs approxi- mately 72,000 people worldwide. The company reported $14.4 billion in revenue in 2025 and net income of about $1.38 billion. The company's business model is increasingly driven by its service segment — including maintenance, repair and modernization of elevators — which generated more than $9.4 billion in sales in 2025. Marks also serves on the boards of Caterpillar Inc., AdvanceCT, the Busi- ness Roundtable and the U.S.-China Business Council. Christopher J. Nelson President & Chief Executive Officer Stanley Black & Decker Industry: Manufacturing No. of employees: 43,500 Annual revenue: $15.1 billion Education: Bachelor's degree, University of Notre Dame; MBA, Cornell University Brian Montanari President & CEO Habco Industries Industry: Manufacturing No. of employees: Fewer than 100 Education: Bachelor's degree in fi- nance, Siena College; MBA, Central Connecticut State University Birthplace: Buffalo, New York Judy Marks Chair, CEO & President Otis Worldwide Corp. Industry: Manufacturing No. of employees: 72,000 Annual revenue: $14.4 billion Education: Bachelor's degree in electrical engineering, Lehigh University B rian Montanari is president and CEO of Habco Industries, a Con- necticut-based manufacturer serv- ing the aerospace and defense sectors. He oversees the company's operations and strategic direction. Over the past year, Montanari said Habco consolidated two Connecticut operations into a new Windsor campus and completed a change in ownership. On Jan. 29, 2026, the company was sold to Cook Inlet Region Inc., an Alaska Native corporation, follow- ing a formal capital-structure process. Montanari said the company's next phase will focus on measured growth as it integrates with CIRI, while maintaining its Earlier in his career, he also served as vice president of finance and chief financial officer of Renaissance Tech- nology Inc., an early-stage medical device company. Barwis has been active in national and state health care organizations and has served on the Connecticut governor's Healthcare Cabinet since 2016. He cur- rently serves on the board of trustees of the American Hospital Association. He said health care organizations continue to face financial pressures from declining reimbursement and af- fordability issues affecting patient bad debt, while partnership opportunities remain an important area for growth. What qualities are most essential for effective leadership today? Selfless, self-aware leaders that engage, listen, communicate effec- tively/transparently and have a strong competency in strategy and strategy execution. What do you value most about living or doing business in Connecticut? It's a beautiful state, and schools and education are excellent. What is one change that would make Connecticut more competitive eco- nomically? Affordability is the key issue for both early careerists and retirees. Go-to news media outlets: Hartford Business Journal, Hartford Courant and "Squawk Box." Hobby or leisure activity: I love working with my hands and doing projects around my house. Kurt Barwis President & CEO Bristol Health Industry: Health Care No. of employees: 1,700 Annual revenue: $235 million Education: Bachelor's degree in business administration, University of Pennsylvania; MBA, La Salle University Birthplace: Philadelphia K urt A. Barwis has served as pres- ident and CEO of Bristol Health since 2006, leading the indepen- dent health system in a competitive health care market. During his tenure, Bristol Hospital earned both Magnet and Baldrige regional designations. Barwis was recently named a 2026 Baldrige Foundation Award recipient for leadership excellence. Before joining Bristol Health, he held several health care leadership roles, including senior vice president and chief operating officer of St. Mary's Hospital in Maryland and system vice president of managed care and business development at Union Hospital in Maryland.

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