Louis Chenevert is discussed as a legend because of what he has accomplished with United Technologies Corporation. While serving as their Chief Executive Officer and Chairman of the Board, Chenevert increased the company’s market share by 8%. This resulted in a stock increase of $37 to $117, which is nearly a 20% increase. This massive amount of growth made the company have an estimated value of $63 billion. This achievement is remarkable, but we must remember that legacies take a lifetime to build. Visit United Technologies website for more info.
Louis Chenevert began preparing to leave such a legacy while attending the business affiliate of Montreal’s University, HEC of Montreal. Here, he would earn a degree as a production manager, but even more importantly, the respect of his professors. Upon graduation, thanks to his professors making phones calls, Chenevert had over nine job offers.
Louis Chenevert decided to go with General Motors as a Production General Manager because GM was a great training grounds for future CEOs. Even though they would offer him a promotion to the head of the Pontiac Division, Chenevert would leave when Pratt & Whitney made him a lucrative offer.
Louis Chenevert would work for Pratt & Whitney for just over six years before they would offer him the role as president. He gladly accepted, and after working there for another seven years, he would increase their stock prices by 33%.
In 2006 however, United Technologies Corporation would come knocking and offering him the position as both Chief Executive Officer as well as Chairman of the Board. Chenevert accepted and immediately turned the company around.
He increased United Technologies Corporation’s hold on the aerospace sector by purchasing Pratt & Whitney and focusing on aerostructures and actuators, brakes and landing gear, and flight controls and sensors. Read more about Louis at crunchbase.com.
He increased the company’s hold on military, corporate, and private contracts by establishing a factory in Hartford, Connecticut. This led to UTC being the leading manufacturer of helicopters for the military.
The last thing that Louis Chenevert did that resulted in his legacy being cemented was acquiring Goodrich for a total of $16.3 billion.