Louis Chenevert’s Success at UTC
Louis Chenevert was born and raised in Montreal, Quebec. With a bachelor’s degree from HEC Montreal in production management, he grew to be a very influential businessman.
After working at Pratt & Whitney, Chenevert started working at United Technologies as Chief Executive Officer and the Chairman. UTC does research on and manufactures high energy technology. They play a key role in the air conditioning and refrigeration industry, build jet engines that are 1 of a kind, and produce flight controls, sensors, and various aerospace system tools. Chenevert was willing to invest in technology and the future and that is what made him so successful.
Chenevert increased the share price of UTC from 37 dollars per share to one hundred and seventeen dollars per share. This resulted in UTC being the United States most profitable conglomerate.
Louis Chenevert believed in investing in people as well as technology. One example of this has when he noticed a group of engineers wasn’t as productive as they once were he moved them to Connecticut where their skills could be utilized. This mentality is still being used by the current CEO of UTC.
UTC, under Chenevert, became more environmentally friendly. The company reduced water consumption by 53% and greenhouse gas emissions by 26%. Doing this ensures that the products will sell at a higher price.
Louis Chenevert has been extensively recognized due to his outstanding success professionally. He received an award in 2009 from the National Building Museum. He also received a doctorate honoris causa from HEC Montreal and Aviation Week named him Person of the Year.
In 2014, Chenevert stepped down from the role of CEO of UTC. His legacy remains and the company still benefits from his high standards and principles.