Louis Chenevert – The Man Who Left a Legacy at UTC

The magazine known as “Aviation Week and Space Technology” named him “Person of the Year.” The affiliate of the University of Montreal, HEC Montreal, awarded him a honorary doctorate. Also the National Building Museum would shower him in awards in 2009. He was so intelligent that Goldman Sachs tapped him to be an advisor in 2015 for their Merchant Banking Division. Who was this man? His name is Louis Chenevert, and if you are in business, you would be wise to listen to him.

Chenevert began his career by working for General Motors. It was here that he worked with the brightest minds in the production management field. He sharpened his skills and became one of the best production managers the company had ever seen.

He would go to leave General Motors after working there for fourteen years to pursue his job at the aircraft manufacturing company Pratt and Whitney. Chenevert found that he had a knack for this niche of business and was promoted to the role of company president in the year 1993. Chenevert believed he could reorganize the entire sector, but many doubted him. His doubters knew that this once proud sector used to make up nearly a quarter of America’s GDP, but now it was not even half that amount. Chenevert was up for the challenge.

In 2006, Chenevert would go to become CEO of the United Technologies Corporation, or UTC for short. To be competitive, he would lead UTC to acquire none other than Goodrich. This came a cost of $16.3 billion, but it launched UTC to the top of its field. Chenevert would begin producing high quality products ranging anyway from commercial and military jet engines to flight controls and sensors to the very air conditioners that each of us have in our homes. From there he would lead UTC to become a Controls & Security juggernaut, before retiring in 2014.

Seeing how wise Chenvert was in his business dealings, it is no wonder that the stock for his company rose from the boring $37 a share to the eye opening $117 a share it is today.