Louis Chenevert is Rightly Hailed as the Legend

United Technologies Corporation is an aerospace manufacturer that has dominated both Canada and the United States of America for several decades now. They are the largest producer of military aircraft for both governments and their juggernaut business does not seem like it will die off anytime soon. However, it was not always like this.

The United Technologies Corporation has Louis Chenevert to thank for this good work.

He took a three-pronged approach to helping the United Technologies Corporation become widely successful. The first part of his strategy was to diversify the portfolio. When he took over as chief executive officer the great recession was destroying businesses everywhere. This included the aerospace manufacturing industry. There were few companies that could afford to purchase jet engines and flight sensors which was predominantly how United Technologies Corporation made its money. In order to continue competing, he decided to acquire companies such as Pratt & Whitney, Otis, and Goodrich. These acquisitions helped United Technologies Corporation branch out into military contracts, corporate infrastructures, and overseas trade.

The second part of his strategy was to decrease the needless spending in the company. He accomplished this by moving factory’s closer to one another. He found out through a survey that United Technologies Corporation was paying over $100 million a year transporting its own goods. By changing the way factories worked with one another, he was able to dwindle this cost.

Lastly, he was able to help United Technologies thrive by helping them prepare for environmental regulations. The United States Government and Canada were looking to pass stronger environmental laws to protect God’s nature. He knew that if United Technologies Corporation was to survive they would need to become more environmentally friendly. To do this, he led the way for United Technologies Corporation to decrease their water consumption and their carbon emissions.

He recently stepped down from United Technologies Corporation and now works as a consultant at Goldman Sachs in the executive banking division. We do not know what his compensation packages, but because of everything he brings to the table, we can assume it’s hefty.

https://www.crunchbase.com/person/louis-r-chenevert#/entity

The Successful Career of Louis Chenevert

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.

http://www.utc.com/News/News-Center/Pages/Louis-Chenevert-becomes-the-eighth-Chairman-of-United-Technologies.aspx