Louis Chenevert Leaves Indelible Footprints at UTC

United Technologies Corporation (UTC) is among the few successful manufacturing companies in the US. The $100 billion industrial conglomerate has been a leading innovator in aerospace technologies despite of challenges like heavy regulation and foreign competition. UTC is a worldwide leader in assembling the most advanced jet engines for both commercial and military purposes. One of its units, Sikorsky, is the largest manufacturer of helicopters in the US. The other subsidiary of UTC, Otis, is the largest elevator and escalator company in the world. The corporation has also proved to be a superior player in developing innovative heating, refrigeration and air conditioning products. The company’s solid profile is credited to the visionary leadership of its former CEO, Louis Chenevert, who left the company in 2014.

Louis Chenevert was appointed the CEO of UTC in 2006 in the midst of the devastating subprime recession. Despite of the hostile climate, Chenevert was determined to formulate unique strategies and a great team that would help UTC to dominate the market. The visionary leader spent 10 years of his career at General Motors before joining one of UTC’s business units, Pratt & Whitney Canada. For six years, Louis achieved much success with the company leading to his promotion as the president of the entire unit. After seven years of serving as the company’s president, Louis was appointed to serve as the president and CEO of UTC. Under his transformative leadership, the company quickly sore to greater heights. Notably, Louis oversaw the acquisition of Goodrich and helped Pratt & Whitney to secure US Air Force’s contract to supply the F-35 engine.

The executive invested in the people by instituting UTC’s Employee Scholar Program that offered scholarship to workers who wanted to advance their education. He is credited for facilitating the development of renowned products, including Pratt & Whitney’s GTF engine that cost $10 million. In 1993, Forbes reported that Chenevert’s involvement with Pratt & Whitney helped in growing the firm, thus enhancing the overall growth of UTC. His transformative leadership helped UTC to stabilize its operations. Louis resigned from his position in 2014. However, the company continues to benefit greatly from his insights and business strategies.

In Businessman  

Leave a Reply

Your email address will not be published. Required fields are marked *