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.
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.
Companies need big leaders to achieve success and that is what Louis Chênevert has been all about through out career. He has had a distinguished career that has seen him work for different companies and achieving a lot of success at each stage. His brings a wealth of experience and knowledge of business at every turn.
Louis Chênevert is the immediate former CEO of United Technologies Corporation (UTC). He joined the company in 2006 and has served in various capacities during his tenure. He managed to transform the company into one of the best performing in the industry. His tenure was marked by massive investments on various businesses’ operations including employee training through the Employee Scholar Program.
United Technologies Corporation (UTC) specializes in assembling jet engines, helicopter systems, air conditioning and refrigeration systems. Louis Chênevert oversaw one of the company’s major milestones and that was the development of the Geared Turbofan which went into the history of the aerospace industry as a major advancement. His willingness to invest in the company’s technologies proved crucial in driving the future growth of UTC. Louis’s legacy at the Connecticut based company still lives on as the company continues to be the leading manufacturer of aerospace products.
He previously worked for General Motors as a Production General Manager. His achievement at the company during his 14 years was sealing a deal with Goodrich worth $18.4 billion. He also worked for Pratt & Whitney both in the capacity of the Vice-president of operation and the president. After leaving UTC in 2014, Louis proceeded to work for Goldman Sachs’s Merchant Banking Division as an Executives adviser up until 2017. His role included scouting for business opportunities in the industrial and aerospace industries.
Chênevert also serves in various committees including Chairman of the Yale Cancer Centre, Business Council, Board of directors of Cargill Inc., and Chairman of the Congressional Medal of Honor Foundation.
He graduated from the University of Montreal, School of Business with a degree in production management. He also holds two doctorate honoris causa from HEC Montreal and Concordia University respectively. He was also awarded the 2009 Honor award by the National Building Museum.