Louis Chenevert has led quite a storied professional life. The Canadian businessman is a previous CEO of United Technologies Corporation (UTC), an American conglomerate focused on the research, development, and manufacture of high-technology products. His election as UTC chairman came in 2006, a position which he held up until his stepping down in December of the year 2014. After 14 years as the Production General manager at General Motors, he joined up with Pratt & Whitney Canada in 1993, where he rose to the presidency after six years of work. In September of 2015, Goldman Sachs took him on as an Exclusive Advisor in their Merchant Marketing Division, helping them target opportunities in the aerospace and industrial sectors.
During his tenure at UTC, Chenevert cultivated a legacy of exacting standards that CEOs coming after him have difficulty matching. Among his accomplishments was the acquisition of Goodrich, a testament to his business acumen and superlative determination in light of the fact that Chenevert spent over a year working out the $18.4 billion deal.
Were you to ask Chenevert himself, he would rank his GTF project first among his long list of accomplishments. He foresaw the development of advanced materials that would increase the burning temperature of engines, thus helping place Pratt & Whitney firmly on the map within the narrow-engine jet market segment. Notably, his policy of investing in high-quality technology remains at the heart of UTC’s growth up until today, considerably benefitting the U.S. job market and economy. Read more about Louis Chenevert at Wings Journal.
Planning for Tomorrow, Today
UTC’s current CEO Gregory Hayes echoes Chenevert’s sentiments with regard to the importance of employee education and investment in technological innovation as driving forces of future success. Rather than focusing exclusively on short-term successes to please investors, ideal EO must have the future in mind as they make decisions today. Educated workforces not only ensure the future of a company, they contribute more quality ideas today than they would otherwise.
While at UTC Louis Chenevert pioneered the organization’s green design policy, which was adopted across all their facilities across the globe and which had the effect of significantly reducing the environmental footprint of their products.
On the strong foundation laid down by Chenevert’s stewardship, UTC maintains its position as a market leader in the assembly of commercial and military jet engines, in addition to dominating the refrigeration, heating, and air conditioning industries. Read more at PhillyPurge.com.
Although investments in technology are vital for company health, it’s paramount that organizations recognize the fact that ideas come from employees, and it is with this in mind that UTS launched its Employee Scholar Program, with over 39,000 employees attaining degrees with the help of these scholarships since 1996. What this program aims to do is inculcate a culture of continuous learning and growth within its body of employees. This is in line with Chenevert’s belief that only companies whose workers are kept constantly in touch with the latest developments in technology and techniques will be in a position to either take advantage of or spearhead development. It speaks well of Chenevert’s policy that it has stood the test of time, and it doesn’t look as though it will be changing anytime soon.