How Louis Chenevert Led UTC
Louis Chenevert is a Canadian who has been very successful in the business community. He graduated from the University of Montreal with a commerce degree in production management. The first company he joined after graduating was General Motors, which he started working for in 1979. He worked at their facilities in St. Therese where he was the production general manager.
In 1993 he joined the aeronautic company Pratt & Whitney Canada. In 1999 Louis Chenevert was promoted to being the president of Pratt & Whitney, a position he stayed in for seven years. He then joined this company’s parent company, the manufacturing giant United Technologies Corporation. For the first few years he was a director at this firm and in 2008 Louis Chenevert was named at the company’s new president and chief executive officer. He was elected as the chairman in 2010. He remained in these positions until the end of 2014 which is when he resigned from the company.
While running UTC, Louis Chenevert made sure that his company stayed one of the most innovative firms in the manufacturing industry. He made investments in both the employees of the company, paying for their ongoing education, as well as in the technology used at UTC. While many companies in the industry laid off employees and sent the work overseas, Louis Chenevert refused to do this. Instead, he made it a point to keep the work in North America and pay the employees of UTC a fair wage for their work. He also made sure that UTC complied with all relevant environmental laws as he felt this was important for both him, the company, and the broader global population.
Running UTC is a complicated affair as it is a huge company worth around $63 billion. It has many subsidiaries as well such as Pratt & Whitney and Otis, the company that builds elevators and escalators. Louis Chenevert was very successful at managing all the disparate parts of the company during his tenure. After leaving his position at UTC he took some time off. He is now one of Goldman Sachs exclusive advisors.