For about 21 years Louis Chenevert was an executive for United Technologies Company or its subsidiary, Pratt & Whitney Canada. He holds a college degree in production management which he acquired at HEC Montreal. He worked for General Motors for 14 years before joining Pratt & Whitney Canada in 1993. In 1999 he was named as the president of Pratt & Whitney. He was then named as the chairman of the board and chief executive officer of UTC.
Before resigning from UTC on December 8, 2014, Louis Chenevert was very successful leading the company. It is said that he was uniquely gifted at serving the best interests of his company’s shareholders, suppliers, and customers so that everyone benefited. This was especially true during the subprime recession during which time many other manufacturing companies went out of business in North America.
Among the biggest challenges that Louis Chenevert had to deal with at UTC was foreign manufacturers offering very tough competition in the manufacturing industry. Despite this challenge, as well as heavy government regulations, he led UTC into being a firm worth about $63 billion. He did this while keeping manufacturing jobs in North America and not outsourcing to other nations like many of his competitors did.
When Louis Chenevert took over Pratt & Whitney as the top executive this unit of UTC achieved high revenues. The same happened when he was tapped to lead UTC. During his time at this firm the value of the stock went from $37 a share to $117, for example. He focused the company’s strengths on its two biggest industries, building and aerospace. This resulted in significant synergies which resulted in great financial results.
Louis Chenevert has been a business leader in other ways. He is on the board of Cargill, Inc. which he started to serve in 2011. He was also once served on The Business council’s executive committee as its vice-chairman. In 2015 a vote held by the Congressional Medal of Honor Foundation resulted in him being named as a co-chairman. Most recently, he worked at Goldman Sachs in their merchant banking division he is one of their exclusive advisors.