It takes extraordinary patience and a great eye for opportunity to succeed as a business leader. Nonetheless, these attributes must have the backing of a strong belief and investment in one’s employees. Louis Chenevert, the former CEO of United Technologies Corporation (UTC), understood this and employed the mindset into his stewardship of the corporation.
After joining UTC in 1993, Chenevert made it his mission to not only guide the conglomerate through the subprime economic recession, but also improve its market share yearly. The fact that he steered UTC away from an economic tide that the then manufacturing powerhouses like Zenith, Philco, and Bethlehem Steel couldn’t weather is enough testament to his business acumen. As if this wasn’t enough, he helped UTC domineer the American refrigeration, heating, and air conditioning markets. Notably, the corporation is also credited with the production of the highest number of helicopters in the United States.
However, a description of his long stint as the head of the corporation won’t be complete without mentioning his successful development of the GTF aircraft engine. In a real test of patience, it must be noted that it took him over two decades to complete the project. Going by its reception in the aviation circles, however, it is worth the while. The engine not only seeks to revolutionize the industry but has also repositioned UTC as a major player in the narrow-body jet engine global market.
Chenevert is also lauded for the successful acquisition of Goodrich as well as assisting forge a healthy working relationship with Rolls-Royce. Most importantly, he has the gratitude of close to 39,000 UTC employees whose university education was fully funded by the company under his stewardship.
Chenevert is a Canadian national and a renowned global business executive. He graduated with a Bachelor of Commerce-Production management option from HEC Montreal.
Before being appointed UTC’s CEO, Chenevert served as one of the company’s directors. He had also worked as the production manager for General Motors for 14 years. Currently, Chenevert serves as the exclusive advisor for Goldman Sachs Merchant banking division.