Louis Chenevert is the former President and CEO of United Technologies Corporation (UTC). He worked for six years, running between 2008 and 2014. UTC is one of the biggest business conglomerates in the world. It is made up of a number of multi-billion businesses. The headquarters of the company are located in Connecticut
Although UTC is involved in numerous business activities, it is the aerospace industry which makes them very popular. They have been working with various organization such as NASA, military and independent private businesses to develop new technology that will boost their performance.
Louis Chenevert grew the company significantly. The fact that the share value of the company tripled is proof of the excellent work he did. Chenevert invested heavily in technology and human resource, and it paid off. He believed that technology without a skilled workforce would not serve the business as he would like. He encouraged workers to pursue further education as a way of improving their skills and input to the company.
One of the victories he made is leading the company in creating the Geared Turbofan Engine. This is the best jet engine with less noise, smoke, and fuel consumption. Although at the building stage some people doubted the viability of the project, he proved them wrong. GTF is now the highest income-earner in this company.
Louis Chenevert always wanted to be an entrepreneur from a young age. Despite his humble background, he was determined to excel. In the university, Chenevert pursued a degree in production management. He found his first job at General Motors where he worked for 14 years.
Chenevert later joined Pratt & Whitney, one of the businesses under UTC. The jet engine manufacturer laid the foundation for his success. His performance impressed the managers of UTC who moved him from Pratt & Whitney where he was serving as the president to CEO of UTC.
The performance of Loius Chenevert as the CEO saved the company during the global financial crisis of 2008. The company continued making profits consistently despite the crisis. Even after retiring in 2014, his legacy at UTC remains intact, and the subsequent CEO is building on the foundation he laid.