Louis Chenevert: the Leader that Guided UTC Through Troubled Times

Louis Chenevert is a Canadian businessman and also served as the CEO and chairman of United Technologies Corporation (UTC). Earlier on in his career, in the late 1990’s, he became the president of Pratt & Whitney after serving with the company for six years. During the mid 2000’s, he became the Chairman of UTC. Eventually Mr. Chenevert became the Vice-Chairman of the Executive Committee for the Business Council and also served Goldman Sach’s Merchant Banking Division as its Exclusive Advisor.

Louis Chenevert has always had the amazing ability to bring shareholders, stakeholders, and customers, alike, together so they could understand how all of their interests might align. He steered the company through a time of recession when other businesses were falling by the wayside. He helped UTC to survive through the years when no one cared about American businesses and when manufacturers from outside the United States were offering stiff competition. By keeping it at the top of its industry, Mr. Chenevert cemented UTC’s legacy as a leader in the market of aerospace and building space. During this time the company never underpaid its employees or caved in and left its original location.

Louis Chenevert helped to contribute to Connecticut’s extended history in the manufacturing arena as well as its economy. Even though Connecticut is known to be a costly state to do business in, Chenevert was able to guide UTC until it was earning twice the average of what many other companies were bringing in. As the CEO of the company, he brought its share-price from a disheartening $37 all of the way up to $117 while dividends were always paid out. He did all of this while not partaking in the practice of outsourcing production, and, in fact, even went as far as moving more than a hundred aerospace engineers from cheaper locations back to Connecticut for their useful skills.

Louis Chenevert studied at HEC Montreal where he earned a Bachelor’s Degree in production management. He was also honored with the being named Person of the Year by the Aviation Week & Space Technology.