Business

Louis Chenevert Always Looked to the Future

Louis Chenevert, now the former Chief Executive Officer of United Technologies Corporation, had an idea to leave the company in a better position than it was when he arrived; a system of thought that Gregory Hayes, current CEO of the corporation continues to implement. He graduated from HEC Montreal and eventually received an Honorary Doctorate for the myriad of successes over the years. It was during Louis Chenevert’s time with Pratt & Whitney, which he became President of after six years with the company, that he became familiar with an upcoming technology regarding a prototype GTF engine.

It was his forward-thinking that allowed him to recognize the importance of the new engine, and when he was elected as the Chief Executive Officer of United Technologies Corporation in 2006, he decided to bring it with him in his new position. Spending upwards of $10 billion over the next few years in order to bring his vision to fruition, Mr. Chenevert not only placed a strong emphasis on taking advantage of all things cutting-edge but also on investing in the people that worked for him. Louis Chenevert recognized that as the Chief Executive Officer, it was his duty to bring immediate results for the company, but he also placed equal emphasis on bringing in positive results over the long term. Due to his ability to bring about a comfortable marriage between Pratt & Whitney and United Technologies Corporation, the vast majority of the GTF engines parts are outsourced to suppliers throughout the United States, as well as in a number of other companies.

United Technologies Corporation has also spent in excess of $40 billion with their suppliers. Over the course of his career, Louis Chenevert has been recognized by a number of notable organizations, recently being named “Person of the Year” by Aviation Week and Space Technology, and although the master businessman has since exited his role as the CEO of UTC, his blueprint remains well intact, and the company continues to flourish. Over the next three years, United Technologies Corporation expects to create 25,000 new positions for employees, which will help to significantly improve the economy overall.

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