CEO Louis Chenevert’s winning style at United Technologies

Louis Chenevert was CEO of United Technologies Corporation (UTC) from 2008 until his retirement in 2014. At UTC, he saw the importance on small teams and he relied on passion, optimism and follow-up to succeed; he looked to inspire and appreciate good people, to deal with problems right away, and to remove those who retarded progress.

Louis Chenevert saw the potential of the Pratt & Whitney (P&W) geared turbofan (GTF) engine since his time from 1999 to 2006 as president of P&W; he invested $15 billion into the GTF which delivers 20% less fuel use and 50% less noise with 30% fewer parts, and is used in 14 different airlines and 70 aircraft.

His work at UTC resulted in producing the F135 military engine, using narrow airplane technology in such craft as the A-320, winning from Rolls Royce the next generation of Gulfstream G500 and G600, doubling the speed of helicopters with the new X2 technology, and the enormous $18 billion acquisition of Goodrich aerospace.

Louis Chenevert’s interest in developing his people was demonstrated by his continuation of UTC’s Employee Scholar Program which paid the full cost of employees’ education in any field they were interested in, resultng in their earning 39,000 degrees at an investment cost to UTC of $1 billion.

Louis Chenevert made the successful strategic decision to move production into the United States rather than outsourcing, choosing against any likelihood that cheap labor would result in cheap products. Thus, UTC centralized the operation in Connecticut where top workers could be together to solve problems and was thus able to overcome the Great Recession while significantly raising UTC’s stock price.

Canadian businessman Louis Chenevert earned a bachelor of commerce degree in production management from the Université de Montréal, spent 14 years as a production general manager at General Motors, and was President of Pratt & Whitney in 1999 before becoming a Director of United Technologies in March 2006.

http://www.courant.com/business/hc-goldman-sachs-louis-chenevert-20150909-story.html

The King of Investment and Acquisitions: Louis Chenevert

Louis Chenevert is among the world’s most successful investors. Many business persons are implementing his business mechanisms in their companies and have proved them very effective. Among the factors that attribute to his success is being a visionary and his ability to make useful acquisitions. More than 50 successful enterprises are associated with Louis Chenevert.

 

Louis Chenevert is always enthusiastic in everything he does. He began his business journey as a student of HEC Montreal where he studied Production Management. When in school, his lecturers were very impressed with his passion for studying, and they even began looking for opportunities for him from their acquaintances. (More Louis Chenevert’s Business Successes Past, Present and Future)

 

It is worthwhile noting that Louis Chenevert has got a promotion in every firm he has worked for in his career. In General Motors, where he worked for 14 years immediately after school he was promoted to the Production General Manager. Later, he was employed by Pratt & Whitney where six years later he became the President of the firm.

 

In 2006, United Technologies Corporation (UTC) offered him the CEO position. It is the legacy that Louis Chenevert left in this firm that marks him a legendary. His presence in the firm led it to be the most successful venture in the United States.

 

Louis Chenevert understands that the future success of the firm is dependent on present decisions. This is why he led UTC to invest in future technology. At the time when he was hired as the CEO of United Technologies Corporation, many companies were conducting layoffs being a recession period. Other companies moved their manufacturing centers to countries where they could acquire cheap labor.

 

Louis Chenevert knew his success would only be possible with the help of his employees. He, therefore, moved them to other sectors of the firm where their skills would be more valuable. Find Additional Information Here.

 

 

Chenevert’s Acquisitions

 

The acquisitions that Louis made led to the prominence of UTC. Chenevert made history by making the most expensive aerospace purchase in the USA by buying the Goodrich at $16 billion.

 

He also purchased his former boss Pratt & Whitney which cost the firm $10 billion and 20 years to design. At long last, these investments have been very fulfilling.

 

Related: https://www.forbes.com/lists/2012/12/ceo-compensation-12_Louis-R-Chenevert_FTA5.html