The Story of Success: Louis Chenevert, Former CEO of UTC

A Canadian businessman Louis Chenevert was also CEO of an American company UTC or United Technologies Corporation that develops and manufactures highly technical products after extensive research. His professional career was very successful. He started his career with General Motors where he served as Production General Manager for 14 years. In 1993, he joined a Canadian company Pratt & Whitney and after serving it for six years he was elected as President. In 2006, he was elected as the Chairman of UTC. In the years 2011 and 2012 he also served as Vice-Chairman of Business Council’s Executive Committee. On December 8th, 2014 he resigned as UTC’s CEO and joined Goldman Sachs’ Merchant Banking Division as exclusive Advisor to explore the business opportunities in aerospace and industrial sectors. When Chenevert was UTC’s CEO he left behind unmatched inheritance of high standards for the coming CEOs to follow. Some of his amazing works may include the acquisition of Goodrich for $18.4 billion and enabled market to gain significantly even during the period of recession. But the project of GTF ranked high in the list of achievements of Chenevert as this project was chosen as an alternative for Airbus, a project of an influential company, Pratt & Whitney, in the market of engines for narrow-body jets. The year 2011 was the year of great achievements for Chenevert due to the development of advanced designs for these engines for both latest and large engines as per his expectations. In this way he encouraged UTC to invest in a high-end technology that is creating manufacturing jobs and improving the growth of the company as well as US economy even today. Visit United Technologies website for more info.

Investments for the Future

According to the belief of Louis Chenevert and the current CEO of UTC, Gregory Hayes, educating employees and investing in newest technologies can set a platform for the future success of business sector. Louis Chenevert also supported the idea of creating environment friendly and greener designs for the products produced by UTC. Its products reduced the emissions f greenhouse gases and environmental footprint by 26% and water consumption of the factories and plants by over 50%. Same global standards were established by the company for all of its facilities.

View: https://www.wingsjournal.com/louis-chenevert-business-giant-took-sea

Similarly, Chenevert has encouraged Pratt & Whitney to invest in Geared Turbofan engine or GTF engine, which is considered as a good example of the commitment of a CEO to invest in future projects. The company invested $10 billion on this project which took 20 years to develop a jet engine that changed the entire aerospace industry. GTF engines have not only reduced the consumption of fuel by 16% but also reduced noise by 75% and emission by 50%. In this way by investing in future innovative projects this company has also created the manufacturing jobs and supported the entire economy of the U.S. In fact, the standards of innovation investments and employees’ education set by Chenevert help in growing businesses. Recently UTC has decided to invest in hiring new talents in the 3 coming years to help in the growth of new technologies, on the basis of the legacy set by Chenevert. In this way the professional career of Louis Chenevert, former CEO of UTC, was very successful as the standards set by him are followed by his successor CEOs until today. Read more on affiliatedork.com.

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