Louis Chenevert: A Champion for UTC

Louis R Chenevert is a Canadian born businessman. Born in Montreal Quebec in 1958 he attended a local Universit HEC Montreal where he earned his bachelor’s in business administration. From there he joined the workforce with General Electric. He stayed with the corporation for 14 years and rose to the position of General Production Manager before leaving. Next, he explored his options with Pratt & Whitney Canada where he signed on in 1993. He was named vice president of operation and later in 1999, President of the company. He stayed on in that role for seven more years until finally in March of 2006 he was hired on by the United Technologies Corporation. Visit United Technologies website for more info.

His first roles with his new company included that of Chief operating officer, president, and director. Later in 2008, he was also named CEO. During his time with UTC, he accomplished some of his most impressive work. When he was first brought on the company was facing hard times. A recession was in full swing and the economy, along with many businesses were suffering. With his guidance, UTC was able to pay out regular dividends to stockholders. Additionally, he raised their initial investment exponentially. Before Chenevert began managing UTC stock prices were $37 a share after his time as CEO they had rose to an astounding $117 a share. Read more about Louis at crunchbase.com.

Most impressively was how Chenevert was able to accomplish this feat. He did not require large reinvestments into the company nor did he compromise the location of manufacturing plants. He was able to grow the company while paying employees fair wages in the United States. He avoided moving manufacturing facilities from their current locations to less expensive ones. He managed to keep the company’s base in Conneticutt. Louis Chenevert actually managed to keep from laying off engineers like many other companies were forced to. He pushed UTC to become more balanced in its undertakings. Ultimately leading to a healthier mix that allows the company to enjoy security in uncertain times. Thanks to his style of addressing problems Chenevert has been credited as a think tank among experts in the business world.