World renowned businessman and former CEO of the United Technologies Corporation, Louis Chenevert was a pioneer in the aerospace industry. By focusing on innovation and streamlining processes, and a series of bold, improbable moves, Chenevert made huge waves as a CEO. Mr. Chenevert was able to not only keep UTC profitable during the Great Recession, he was able to nearly quadruple the value of their stock during his time as CEO. He did so with a focus on American manufacturing jobs and refusing to accept the prevailing sentiment that outsourcing was the only viable option.
Born in Quebec, Montreal, Louis Chenevert attended the world renowned Montreal School of Business, where he obtained a bachelor’s of commerce degree. Upon graduation, Chenevert got his start working at General Motors, working his way from 2nd-shift line supervisor to Production General Manager. After spending 14 years at GM, Chenevert accepted a position at Pratt & Whitney in 1993. After six years, Mr. Chenevert continued to ascend the corporate ladder, and was appointed President of the company in 1999.
In 2006, Louis Chenevert’s successful work at Pratt & Whitney and his success in streamlining their processes, got him noticed by Pratt’s parent company, United Technologies Corporation. By 2008, Louis Chenevert was elected President and Chief Executive Officer.
During his time at UTC, Chenevert took a revolutionary approach at leading his company. Instead of moving American manufacturing jobs overseas, in an effort to utilize cheap labor and lower production costs, Chenevert took the exact opposite approach. He, instead, invested in American manufacturing, believing that quality and strong leadership was of vital importance.
Perhaps, Chenevert is best known for facilitating United Technologies Corporation’s $18.4 billion acquisition of the Goodrich Corporation in 2011. After spending more than a year focusing on and cultivating the deal, Louis Chenevert claimed success when UTC completed their purchase of Goodrich, thus transforming the face and future of UTC forever. With the acquisition, UTC was able to position themselves as a dominant force in the field. This purchase one of the largest transactions in the history of the aerospace industry.
In 2014, Louis Chenevert decided to announce his retirement,and stepped down from his position at UTC, leaving after years of success. Although Chenevert is not longer CEO of UTC, his legacy and distinctive leadership style remain.