Louis Chenevert established an exemplary career. Fourteen years of this was spent serving General Motors. He became a part of United Technologies Corporation, or UTC through Pratt & Whitney. In 1999, he became the President of the division, and remained in this position for seven years. He was then elected the CEO and President of UTC. The conglomerate had a value of $100 billion, and his achievements and contributions were substantial. Due to his efforts, UTC acquired Goodrich through an $18.4 billion deal.
Louis Chenevert believed UTC required the latest advancements in technology, and many of the improvements he made within the company were driven by technological investments. He began the Employee Scholar Program so employees could increase their education with the costs covered by UTC. More than 40,000 employees worldwide received degrees because of Louis Chenevert’s program. This required a $1 billion investment, and the benefits to both the company and the employees were evident.
Two of the qualities that made Louis Chenevert stand out were his forward-thinking and his leadership capabilities. The projects he chose to pursue furthered the vision of the company, and had a high potential for success. A sizable portion of UTC’s budget was set aside for technological innovations, and Louis Chenevert additionally managed the company’s resources, mission and vision. He won the lobby for the F-35 engine for the United States Air Force, and became the governments only supplier. Under his leadership, the Sikorsky unit became the United States biggest manufacturer for helicopters. This occurred due to his visionary leadership.
It took $10 million in investments and two decades to develop the GTF engine, a product enabling fierce company pride. According to Forbes, when Louis Chenevert joined UTC, he championed improvements leading to the growth of UTC’s market shares. Once he became the CEO, he was responsible for the company’s navigation through a hazardous economic time. Many of Americas industrial giants did not survive this period, but Louis Chenevert’s leadership pulled the company through. When he resigned on December 8th, 2014, it was assured that he would never be forgotten by UTC. The foundation he created for UTC still dominates the market. Chenevert now spends his time with his family and cultivating his hobbies.