The United Technologies Corporation has been in the spotlight for some time as the greatest success of Louis Chenevert, who served as their Chief Executive Officer for eight years. During his time at the help, United Technologies Corporation saw their stocks skyrocket 200%, starting at $37 and ending at $177 when Chenevert left. They saw their market share increase by 8% and the net value of the company rise to a whopping $63 billion. This indeed was the crowning achievement in Chenevert’s career, but it took a lot of effort to get him here.
Louis Chenevert started preparing for that legacy at United Technologies Corporation while attending the University of Montreal and its business affiliate, HEC of Montreal. It was here that he acquired a degree in production management, which he would put to good use for his entire career. Read more about Louis Chenevert at Affiliate Dork.
Upon graduating, Louis Chenevert chose to work for General Motors as a Production General Manager in their Pontiac Division. He chose this position because he knew General Motors was a great place to train to become a future Chief Executive Officer. General Motors tried to promote Chenevert to the Division supervisor, but he left when Pratt & Whitney made him an offer.
Chenevert worked for the aerospace manufacturing company Pratt & Whitney for six years before they offered him the role of President. After increasing the value of the company by several million dollars, Chenevert was offered the role of Chairmen and Chief Executive Officer at United Technologies Corporation.
Chenevert got to work fast. He expanded UTC’s aerospace manufacturing department by acquiring Pratt & Whitney. This allowed him to secure more government contracts which led to UTC becoming the largest producer of military helicopters. He expanded into the refrigeration and heating sector by acquiring Otis. However, what saw the company increase in value was the acquisition of Goodrich for $16.3 billion. This propelled United Technologies Corporation to top and led them to dominate the market.
Louis Chenevert would step down from the position of Chief Executive Officer in 2014 and begin working with Goldman Sachs as a consultant. Read more about Louis Chenevert at wingsjournal.com.