Louis Chenevert: Investing in People at UTC

Louis R. Chenevert is a Canadian businessman and executive who is most well-known as the former CEO of United Technologies Corporation. He previously worked with General Motors for more than a decade before deciding to move to the Pratt & Whitney Canada, one of the business units of United Technologies Corporation. He became the president of this business unit in 1999, and he showcased exceptional performance to lead. Because of his brilliant leadership skills, he was selected to become the company’s CEO in 2006. Being the CEO of one of the largest tech companies in the world, he had to think about what he can do to take the business to the top, which is why he formulated several programs that will help the company and the employees alike. Under his leadership, the company managed to generate more than $100 billion revenue, happening in a single year. This feat is only achieved by a few executives, and Louis Chenevert is one of them. Also, Louis Chenevert wanted to expand the business, resulting to more acquisitions. He decided to acquire Goodrich for less than $20 billion, and he believes that this is a good investment.

Believing that employees are one of the great resources of the company, Louis R. Chenevert invested in training thousands of people to become a part of the company later on. He sponsored stewardship programs and the Employee Scholar Program, which would allow their employees to study further and receive their degrees on their respective fields. There were 40,000 people around the globe who benefited from this program, and more than $1 billion has been invested in the United States alone to support the scholarship program.

The United Technologies Corporation also gained several achievements under Louis R. Chenevert. He wanted to innovate their products and develop better technology, resulting to the creation of several high tech products that instantly became a hit. He also made partnerships with the military, supplying equipment and parts that is used for weapons and military vehicle manufacturing. Louis R. Chenevert left so many legacies at the United Technologies Corporation, and even if he already stepped down as the company’s CEO in 2014, the foundations that he created is standing still, making the United Technologies Corporation one of the most stable companies around the world.

 

Leave a Reply

Your email address will not be published.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