Louis Chenevert and His Successful Legacy at UTC

Louis Chenevert is a businessman and the previous Chairman and CEO of United Technologies Corporation (UTC). He was able to lead UTC into a formidable success due to his diligent leadership. Moreover, UTC was able to grow tremendously even during the economic recession. After the war, most companies in the manufacturing industry in America were doing dismally. The valuable sectors’ GDP contribution had declined by 50 percent. Some of the leading companies were completely ruined by the effects of the war.

However, UTC was able to continue thriving despite the unfavorable business environment. The manufacturing company which is worth approximately 63 billion dollars is based in Connecticut. UTC was able to stay afloat without reducing any employee’s salary or sacking any of them. Throughout the years, the company was able to remain among the leading companies in the aeronautical innovation and elevators/ escalators building industry bracket. Also, UTC is the leading maker of helicopters in America.

The company has maintained leading commercial and military customers. It has been able to come up with some of the most complicated jet engines globally. The UTC branch that is headquartered in Connecticut is one of the leading providers of refrigeration, air conditioning, heating and fire detection companies in America. Apart from manufacturing aircraft and helicopters, the UTC Aerospace Space division also develops landing gears, flights controls, brakes, aero structures, and actuators.

The company’s expensive location hasn’t deterred it from raking in huge profits thanks to Chenevert’s invaluable contribution. It’s listed quite high compared to others in its league. Moreover, for more than 70 years, it has never failed to pay its shareholders their dividends. Chenevert was appointed as UTC’s CEO when America was facing sub prime recession. However, this didn’t deter him from growing the establishment from a 37-dollar share price to a whopping 117-dollar one.

Chenevert is a renowned company leader who has been able to grow various companies. Before working for UTC, he had worked for General Motors, Pratt & Whitney among others. However, he resigned from his legendary CEO position at UTC on Dec. 8, 2014. He attended the HEC Montreal, which is a business school that is affiliated with the University of Montreal. He graduated with a Production Management Bachelor’s Degree.