Chenevert, a successful businessman, based in Canada, is a former CEO and Chairman of United Technologies Corporation. Being born in the year 1958 at a place called Montreal, Quebec, his childhood was relatively normal, but his interest in business was seen in his teenage years. He was a self-driven person and believed that hard work is the only key to success. He, therefore, joined the Business School of Montreal University to major in production management.
After graduation, he quickly landed a job with a company called General Motors, where he showed his prowess and became promoted to a production manager within a short time. He would later work in this organization for fourteen years. In 1993, Louis Chenevert decided to transition his career and joined an aerospace industry called Pratt and Whitney Canada. This company mainly deals with the manufacture of aircraft in Canada. The company is, however, a branch of Pratt and Whitney Company based in the US. Interestingly, P and W is a business model that is contained within UTC which makes larger aircraft engines
During his time in PWC, Chenevert was able to cut all the manufacturing costs by ten percent within one year. He used his knowledge in assembly lines and helped cut down the time it took to construct engines from two years to nine months.
In 1996, Louis left PWC and joined P and W as he was selected to replace the executive vice president in charge of operations who was retiring. After three years, he became the president of P and W in 1999. When he took over this company, it was going through tough economic times, but due to his dedication to exploring new technology and efficiency, the company started becoming profitable again. The company has more than 33,000 employees and makes a profit of over 1 billion dollars each year.
In the works for a while – interesting read: https://t.co/ZIU8n9b9Qa
— Louis Chenevert (@louis_chenevert) June 11, 2018
Since Pratt and Whitney is a unit of UTC, the multinational corporation came to seek the services of Mr. Chenevert. He guided UTC through many investments such as GTF engines, and in 2008, he became the CEO of this company. Under his leadership, the corporation sailed through the harsh economic downturn, increasing its stock from 37-117 dollars a share. He also landed a 240M dollar contract with the US Navy and acquired Goodrich Corporation for UTC.