Speaking on strategies that produce success, Louis Chenevert lists open thinking, relentless focus, elimination of roadblocks and thinking big as staples in his bag of tricks. In his career, Louis Chenevert has overseen giant corporates and left each with admirable accomplishments.
A graduate of the University Of Montreal Business School, and an MBA under his wing, Louis Chenevert has enjoyed an excellent career. With his Degree in Production Management, he landed his first role at General Motors in Canada before transitioning into the aerospace industry.
Chenevert worked at Pratt & Whitney Canada (PWC), before joining United Technologies Corporation (UTC). After joining UTC in 2006, as Chairman, Chenevert moved up to be the director in the same year. In 2008, Louis Chenevert was on the move again, this time to become the CEO and president of UTC, succeeding George David. While other companies were moving production into other countries to save on costs, Chenevert, swan upstream by choosing to move all production back home. He argued that cheap labor would mean cheap products. He focused on UTC producing superior products, and production being in the same country would be easier for him to keep an eye on things. In this view, he moved his engineers to Connecticut, and he felt this would improve on efficiency.
Louis Chenevert’s six-year stint at UTC came with notable successes. By the time he retired in 2014, the share price stood at $117, up from $37 in 2008. The F135 engine that he tirelessly worked on with his team acquired a $240 million contract with the U.S Navy. He also oversaw the acquisition of the GOODRICH Corporation during his tenure, which also was also noted for ranking UTC as one of the highly profitable conglomerates in the US.
After his retirement in 2014, Chenevert took time to enjoy his interest and hobbies, as well to the Yale Cancer Center as the Chairman to the Advisory Board. Ten months after his retirement, Louis Chenevert surprisingly took up a position as a Senior Advisor at Goldman Sachs. His life reveals a life lesson: nobody is born to be poor. You can be anything you want no matter your past.