Whenever the success of American multinational conglomerate United Technologies Corporation (UTC) headquartered in Farmington, Connecticut whose operational revenue just passed the 56 billion mark, one name keeps coming up and that is none other than its former CEO and president Louis R. Chenevert. He oversaw the growth of the company during a period marked by a 200% growth in share price from a low 0f 37$ to a high of 117$ per share.
He was born in the Canadian city of Montreal, Quebec in 1958. He studied product management for his undergraduate at an affiliate business school of the University of Montreal.
After completing his undergraduate, he moved to work for General Motors, where he started as an assistant working his way up to become production general manager all this in a span of 14 years. After his stint at GM he left to grow his career and its at this point that he joined a subsidiary of UTC, Pratt & Whitney they had a division in Canada and Louis worked here for six years as a product manager before being appointed president in 1999.
In 2006, he was appointed CEO of UTC, moving him from Canada to Hartford, Connecticut. He was appointed to drive the company through a period when America and the world at large were grappling with an impending recession it was a tough test but he was able to navigate it well and continue his successful track record.
At the helm of UTC, he was in charge of acquiring American aerospace manufacturing company Goodrich for 18 billion at 127 a share and assuming its 1.2 billion debt. It proved to be a smart decision as it began to yield results quickly and within a few months, the new acquisition and all its technology was merged with that of United’s Pratt & Whitney creating products such as airframe integrators for the largest military and commercial manufactures such as Bombardier and Embraer.
Chenevert was also instrumental in UTC’s acquisition of a controlling interest in the International Aero Engines consortium.
His passion for environmental conservation was also reflected in his work as he was able to ensure that UTC’s greenhouse production was lowered year on year for the entire duration of his career.