Louis Chenevert Used Strong Leadership to Push Through Rocky Times

Louis Chenevert is an internationally-known business leader due to his innovative thinking and ability to successfully lead companies, even in unfavorable circumstances.

Chenevert graduated from the University of Montreal’s business school HEC Montreal with a bachelor’s degree in production management.
Chenevert began his career working at General Motors after graduation. He spent fourteen years working for the company and eventually became production general manager. This position gave him experience in not only production and manufacturing but leadership as well.
In 1993, Chenevert left General Motors to work with Pratt & Whitney Canada, a Canada-based aircraft engine manufacturer and subsidiary company of United Technologies Corporation. While working for Pratt & Whitney, Chenevert assisted the company in improving their processes and increasing profitability despite the less-than-favorable economic environment at the time. Chenevert was named the president of Pratt & Whitney in 1999.
Chenevert was elected Chairman of United Technologies Corporation, also known as UTC, in 2006. After only two years with the company, he rose to the position of President and CEO in 2008. This is where he was able to put his incredible knowledge to use. Despite a major economic recession, he managed to improve the company’s procedures and protect profitability. UTC’s share prices increased from $37 to $117 during a time when most manufacturer’s profit margin was falling drastically.
One of the most important decisions Chenevert made during this time was to move engineers from Canada to company headquarters in Connecticut rather than outsourcing productions as most companies at the time were doing.
Through Chenevert’s leadership, UTC acquired aerospace manufacturer Goodrich Corporation in order to reduce production costs. He spent a year planning and negotiating the agreement to purchase the company for $18.4 billion.
His innovative contributions to the aviation industry earned him the title of Person of the Year by the Aviation Week & Space Technology magazine in 2011.
Chenevert surprised many when he announced his resignation as CEO in 2014. Today he is partially retired and works as an exclusive advisor for Goldman Sachs.

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