UTC still Thankful for the Services of Former CEO Louis Chenevert

Published on Author RM2000

Under the stewardship of Louis Chenevert, UTC went through one of its most successful periods in operation. Being a man of great accomplishments, highlights of Louis Chenevert’s career before joining UTC include a 14-year stint as General Manager of General Motors’ St. Therese Production, as well as working at Pratt & Whitney Canada.

Early Career and Getting to UTC

Having graduated with a Bachelor’s Degree in Production Management from HEC Montreal, Chenevert secured the job with General Motors and held the position for over a decade. He later moved to Pratt & Whitney Canada, and in 1999, after working for six years, was voted as president of the whole division. He served as president of Pratt & Whitney before being elected President and CEO of UTC. At UTC, he was able to use his knowledge to bring unmatched success. Not only was he able to earn the company over $100 billion, but he was able to broker an acquisition deal of over $18 billion with Goodrich

After his appointment at UTC, Louis Chenevert started to focus on making changes that would see the company rise to higher heights. He frequently echoed the importance of investing in the right people as much as investing in efficient technology. UTC continues to be grateful for the Chenevert’s abilities to single out ideas with the highest probabilities of moving the company towards achieving its goals.http://www.utc.com/News/News-Center/Pages/Louis-Chenevert-becomes-the-eighth-Chairman-of-United-Technologies.aspx

Leaving UTC

Louis Chenevert made the bold decision to resign from his position as head of UTC in December of 2004. At his time of leaving, Chenevert had accomplished in six years what many others could not in their entire careers. He was replaced by Edward Kangas, who had been an independent lead director at the time. After the move, Chenevert took up a position with Goldman Sachs’ Merchant Banking Division as an exclusive advisor. His role at the new position involves finding expansion opportunities in the aerospace field.

Even after the departure of Louis Chenevert, UTC still relies on the legacy he left behind. They have continued to manufacturer some of the best commercial and military jet engines, and have been able to create a robust business environment to date.