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.