How Louis Chenevert Engineered Excellence at UTC

Louis Chenevert has made significant contributions in the business world. The Canadian entrepreneur is the former Chairman and CEO of United Technologies Corporation. After working for 14 years at General Motor, Louis Chenevert moved to Pratt & Whitney in 1993. Six years later, he became President of Pratt & Whitney. In 2006, he was appointed CEO and Chairman of UTC, a position he held until 2014. Between 2011 and 2012 he served as Vice Chairman of The Business Council’s Executive Committee

Louis’s appointment as CEO came at a time when the economy was experiencing a recession. Rather than focusing on the negative, Louis prioritized value generation through inclusiveness and collaboration with all stakeholders, diversification, and innovation. Throughout his tenure as CEO, UTC led in innovation in the aerospace and building sector. He did not fall for the pressure of laying off workers, unfair wages or any other unethical practices to cope with the recession.

United Technology Corporation has a diverse products and services offerings that include aerospace products, escalators, elevators, air condition equipment, refrigeration and fire detection equipment among others. Louis Chenevert proposed to create financial and operational synergies between the company’s primary business units, building, and aerospace to increase efficiency and productivity. He paired functions that had similar or complementary products and services such as Pratt and Whitney and Goodrich aerospace businesses.

The other strategy implemented by Louis at UTC is creating a balance between the diverse markets and users and its businesses. With a clear understanding of the demand cycles, Louis streamlined the annual incomes by encouraging the manufacture of new products regularly to support existing ones. Strategic acquisitions such as Goodrich and the International Aero Engines Consortium initiated by Louis increased the company’s market reach and influence. He also cultivated a culture of collaboration, innovation, imagination, and discipline. Louis ensured that his team utilized their skills and expertise.

Currently, he serves as an Exclusive Advisor for the Merchant Banking Unit in Goldman Sachs. He earned a Bachelor’s degree in Production Management from the University of Montreal affiliate, HEC Montreal. The university also awarded him an honorary degree in 2011. The Aviation Week & Space technology recognized him as the 2011 Person of the Year.