About Louis Chenevert
Louis Chenevert is a Canadian entrepreneur who graduated from HEC Montreal an affiliated Business School of University of Montreal. Mr. Chenevert graduated in 1979 with a Bachelor of Business Administration. In 2014, he received an honorary doctorate from HEC Montreal while in 2014 he was awarded another honorary degree from Concordia University. Read This Article to learn more about Chenevert.
Louis Chenevert’s Career
Louis Chenevert is the former chairman and CEO of United Technologies Corporation (UTC). He was named as the CEO in April 2008 and chairman in January 2010 respectively. Mr. Chenevert had served in other companies prior to that where he also held senior positions. Louis Chenevert served at General Motors for 14 years and became the General Production Manager but left in 1993 for Pratt &Whitney in Canada. He served as the vice president of operations and later became the president of Pratt & Whitney in 1999. He would later join United Technologies Corporation in March 2006. (More: dailyforexreport.com/louis-chenevert-leadership-investment-innovation/)
Moreover, Mr. Chenevert not only headed the United Technologies Corporation but also served as director as well. With Louis Chenevert at the helm, the company grew tremendously such that during his tenure UTC’S share price rose from of $37 to $117 in a weeks’ time. That was a record of a 200% appreciation in shareholder value considering it was during a time of deep subprime recession. Such was Mr Chenevert’s prowess in handling his business as the CEO that always turned out successful. Check him out on Forbes.
Notably, Mr Chenevert saved the situation several years ago where most of the company’s engineers would have lost their jobs when he did a minor restructuring. He did this by moving the engineers from a lower cost- local back so that the company would be in a position to fix them whenever their skill was required in commercial and military markets. Further, under Mr. Chenevert’s leadership, the performance was so remarkable such that UTC was able to generate twice as much shareholder returns of standard Dow Jones Industrial and S&P 500 for ten years ending December 2013.
Louis Chenevert is a known entrepreneur in Canada. He is the former United Technologies Corporation (UTC), chief executive officer. UTC is a multinational conglomerate firm in America that deal with researches, manufactures, and develops of high technology commodities.
Chenevert has worked at General Motors for 14 years where he was the production general manager. In 1993 the skilled expert joined Pratt & Whitney Canada and was elected president after serving for six years. He is the vice-chair of Executive Committee of the Business Council for 2011-2012. The renowned leader was appointed as the chair of UTC in March 2006 and resigned the position in December 2014. In 2005, he started working as an exclusive advisor at Merchant Banking Division.
He left a remarkable legacy at UTC. He acquired Goodrich and made significant profits in the market during the recession. This acquisition represents extraordinary patience and business acumen. The GTF pet project ranks high in his achievements. It was selected to replace Airbus established Pratt & Whitney in the jet engine market. He discovered the advanced materials that could burn engines hotter. Chenevert led UTC to invest in a quality technology that drives growth in the firm today and boosts US economy as it creates manufacturing jobs. Find out more about Chenevert on Crunchbase.com.
Securing the Future
Louis Chenevert believes in investing in the high-quality technology and educating employee to set up companies for future success. He works on leaving each company better than he found it. The future needs investment to achieve success in both short and long-term. Educating workforce contributes to creation of new ideas.
Pratt & Whitney Geared Turbofan (GTF) engine is an example of such investments. The engine cost $10 billion and took over 20 years to design and produce. 72 aircrafts by 14 airlines are using the new GTF launched last year. It lowers fuel burn by 16%, cuts noise by 75%, and emits 50% less waste. Go Here for related Information.
Under Chenevert leadership, United Technologies Corporation assembled the most advanced jet engines in the world for commercial and military use. UTC has an Employee Scholar Program to educate workers. Innovation investment grows the manufacturers and supplier’s business.
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