Louis Chenevert is the former President and CEO of United Technologies Corporation. UTC is a conglomerate business that has many businesses under it. However, all the businesses under UTC are in the technology sector. This means that the growth of the company highly depends on the ability to adapt to bets technology. With technology being unpredictable in recent years, it can be very hard for a business in this industry to remain productive over a long time. Companies which are directly affected by technology have to always remain in the line of the latest technologies, they must invest in technological research so that they are not just following what is happening but also shaping the future of their respective industry. UTC is a company that has been run on this believe.
In the works for a while – interesting read: https://t.co/ZIU8n9b9Qa
— Louis Chenevert (@louis_chenevert) June 11, 2018
When Louis Chenevert was the CEO of UTC, he pumped a lot of money into research. It is for this reason that the company was able to come up with unique inventions such as the Geared Turbofan Engine. This is an invention which have raised the profits that the company was making by a huge margin. The research work however cost $10 billion and some people even questioned the viability of the projects. However, after the production was competed, it has become the highest gainer for the company. Louis Chenevert could see the future of the company was pegged on its technological innovations and that is why he invested thoroughly in the industry.
For the six years that Louis Chenevert was at the helm of the leadership, he brought changes that would last for many years to come. The share value of the company in the six years multiplied showing that the company went through major transformation. His approach towards technology is the reason he managed to achieve his goals. He even laid a foundation for other executives. The long plan of growth for the company is solid and it is only upon the subsequent managements to follow what he established. Louis Chenevert is retired but his impact in the company will guide its performance for many years.