Louis Chenevert is a Canadian businessman currently working as an advisor on industrial and aerospace markets in the merchant banking division of Goldman Sachs. Prior to this, he worked at the diversified technology manufacturer and supplier, United Technologies Corporation (UTC), for 21 years including over 6 years as President and CEO. UTC is a major organization in the US market and its share price is part of the Dow Jones Industrial Average. Throughout his career, Chenevert has shown an ability to recognize the value of the people within an organization, to focus on improvement and innovation, and to ensure that an organization is well positioned to continue to develop.
He is from Montreal in Quebec, Canada where he graduated with a degree in production management from business school at the University of Montreal. He joined General Motors, where he remained for 14 years, rising to the position of Production General Manager. In 1996 he moved to the Canadian division of Pratt and Whitney. Visit United Technologies website for more info.
Pratt and Whitney
Pratt and Whitney is part of UTC and specializes in the design and manufacture of military and civilian aircraft engines. In 2002 he was elected the President of Pratt & Whitney Canada, where he remained for 4 years. It was during this period that he recognized the importance of an industry trend towards hotter burning engines. He became an advocate for this project, reinforcing the need for the development of new technology in new engines, from which the company continues to benefit. The engines are now being used in the fleets of multiple airlines with an over 15% reduction in fuel use, more than 50% reduction in emissions and a noise footprint that is over 70% smaller. This approach to innovation also led to an industry response sparking a new period of development.
UTC Senior Executive Roles
In 2006 Chenevert was appointed as Chairman of UTC, and in April of 2008, he was appointed President and CEO, remaining in that role until he stepped down in December 2014. He was able to demonstrate his capabilities as a leader during a period when there were many factors impacting on activity and increased activity across the organization.
The UTC is a US-based multinational organization with headquarters in Connecticut. There are 4 main areas of activity: UTC Climate, Controls, and Security (building systems and services including fire safety, security, ventilation, and refrigeration), Otis (elevators, escalators, and moving walkways), Pratt and Whitney (design, manufacture and service aircraft engines), and UTC Aerospace Systems (supply advanced aerospace and defense products). Read more about Louis Chenevert at Daily Forex Report.
Development and Leadership
During his time as the CEO of UTC Chenevert was able to affirm its role as a leader in all of these areas. He ensured that it would play an important role in manufacturing but also in being part of a broader industry network of suppliers. He recognized that environmentally friendly designs were a selling point for the products UTC was producing, and also worked to reduce the company’s environmental footprint.
Chenevert understood that innovation came from people within the organization and strongly supported the ongoing development of a study program for employees, which would be beneficial for employees in the company but would also help to attract new staff.
Louis Chenevert was a leader who recognized the importance of looking to the future and embracing innovation. He led UTC during a global financial crisis which other similar organizations did not survive. He had shown vision and professionalism in his work as CEO and when he left the organization he had positioned UTC so that it was able to continue to develop and prosper.