The Phenomenal Success of Louis Chenevert in Business

Hard work and determination has enabled many people to achieve their goals. One man who is proof of this theory is Louis Chenevert. He is a Canadian entrepreneur who has served in various capacities for different companies. Louis at one time was the Chairman and CEO of United Technologies Corporation, one of the most successful conglomerates in the US. Born and raised in Montreal, Quebec, he has had an interest in the business world from a very early age. He studied Production Management at the HEC Montreal Business School of the University of Montreal. He was also accorded a doctorate honoris causa by HEC Montreal and Concordia University in 2011 and 2014 respectively.

After school, Louis landed a job with General Motors as a Production Manager. He worked with them for 14 years before he decided to take on a new challenge by transitioning to aerospace. He joined aircraft engine manufacturer, Pratt & Whitney Canada, which is a business unit within the United Technologies Corporation. Louis used his skills and expertise to improve the production at PWC by shortening the time used to construct an engine from 2 years to nine months. Such moves made him very resourceful, and in 1999 he was appointed the president of Pratt & Whitney. He found the company not doing well, but by cutting costs and embracing technology, he was able to turn it back to profitability. In 2006 the holding company UTC asked Louis to join them as chairman of the corporation. His idea to invest heavily in the GTF engine paid off handsomely, and in 2008 he was made chairman and CEO of United Technologies.

In his tenure at the helm of UTC Louis made some changes that resulted in efficiency and massive growth for the company. Some of his highlights include landing a $240 million deal with the U.S. Navy and acquiring Goodrich Corporation for $18 billion. On his retirement from the company in 2014, the stock price was at $117 a share, up from $37 a share when he took over. Even though he is retired, Louis works as a senior advisor at the multinational investment bank, Goldman Sachs. He also serves at the Yale Cancer Advisory Board as the chairman.

http://www.utc.com/News/News-Center/Pages/Louis-Chenevert-becomes-the-eighth-Chairman-of-United-Technologies.aspx