Louis Chenevert’s Notable Role in UTC’s Success

Louis R. Chenevert is the former CEO and president of UTC (United Technologies Corporation). He was born in Quebec Canada in 1958 and is credited as the man who saw UTC through a very successful era during while riding through a rough economic time of the subprime recession. He was able to achieve phenomenal stock growth rising from a low of 37 to a high of 117$ and was able to provide a steady dividend payout to shareholders while also reinvesting a lot back into the company.

He studied product management at an affiliate of the University Montreal and later moved to work for General Motors as a product manager after completing his degree.He was in general motors for 14years.

Louis later moved on to Pratt & Whitney an aircraft engine manufacturer in their Canadian division where he worked for six years mostly in the engine department. He was mostly in charge of the unit production and development where he oversaw a steady rise in the production levels as well as increased process efficiency. This led to him being appointed president of the Canadian subsidiary where he was responsible for the overall company operations in the country. After holding this position for some time he was appointed overall CEO and president of UTC. This appointment placed the responsibility of the company together with all its subsidiaries on his shoulders. He proved this to be a right decision as he was able not only to grow the operations of the company but do major acquisitions.

His major accomplishment was the purchase of Goodrich for $16.3 billion and merging its operations with those of Pratt & Whitney engines he was able to achieve a masterstroke by being in a position to offer market leaders in aircraft manufacturing such as Bombardier and Embraer the equivalent of a one-stop shop for airframe integrators.
The genius of bringing together related areas to create market relevant solutions was to manifest itself again when he brought together Otis elevators and escalators with Carrier air conditioning enabling UTC to offer comprehensive solutions for developers of transportation hubs and office blocks.

His achievements in the industry saw him receive various award such as the Honor Award from the National Building Museum as well as being named Person of the Year 2011 by Aviation Week & Space Technology magazine. He stepped down from UTC in 2014 and is currently an exclusive advisor for Goldman Sachs.

Watch Chenevert speak:

Leave a Reply

Your email address will not be published. Required fields are marked *