Why UTC is Thankful to Louis Chenevert

It is almost impossible to tell the success story of United Technologies Corporation (UTC) without mentioning the name of the Canadian businessman Louis Chenevert. In case you did not know, UTC is an aerospace technology company based in Hartford, Connecticut. The company is approximated to be worth 63 billion dollars which does not come as a surprise because the firm is the leading manufacturing company of US helicopters. Moreover, the company is the largest manufacturing firm for elevators and escalators internationally.

 

Louis Chenevert, on the other hand, is a Canadian entrepreneur who began his career in General Motors where he worked as the general production manager for 14 years. In 1993, he decided to join the Pratt & Whitney Canada (PWC), and in 1999, Louis was lucky to be elected as the vice president of Pratt & Whitney (P&W). Here, Chenevert was able to retrieve the company from grasses to graces. Recognizing the developments that Louis had done in their younger company, UTC officially recruited him to be part of their team. He held top position like president, chief executive and chairman of UTC board. He however retired from the company in 2014 but this was after building the name of UTC.

 

In spite, all the initially mentioned praises associated with UTC, this aerospace technology corporation was facing a challenge acquiring Goodrich Company. Fortunately, under the leadership of Louis Chenevert, the company was able to solve this problem easily because Louis negotiated with Goodrich and managed to acquire it at a sum of $18.5 billion. Besides achieving the company’s greatest desire, Chenevert also increased the market of the company through his policy of incorporating the most sophisticated form of technology while making the jet engines which has globally captured the eyes of many firms.

 

Maintaining the engineers was the last achievement that Louis Chenevert. Regardless of the hard work that was required, there were no instances of employees being fired or retiring willingly. Although he retired four years ago, United Technologies Corporation is always grateful for the developments and legacy he left behind. Such should indeed be the present an upcoming society for a better community.

 

https://www.dailyforexreport.com/louis-chenevert-leadership-investment-innovation/