Louis R. Chenevert is a Canadian businessman, Pratt and Whitney Canada’s former president and United Technologies Corporation former chairman and CEO. He got a production management bachelor’s degree from HEC Montreal where in May of 2011 he got an honorary doctorate. Aviation Week and Space Technology named hime Person of the Year also. Read more about Louis Chenevert at wingsjournal.com.
Louis Chenevert’s Early Career
He had worked at Pratt and Whitney Canada six years when he was elected president in 1999. He was elected UTC’s CEO and Chairman during March of 2006. Prior to working for Pratt and Whitney he spent fourteen years at General Motors. Director Edward Kangas took over when he resigned as UTC’s CEO in December of 2014.
In 2011 and 2012 Chenevert was the Vice Chairman of the Business Council’s Executive Committee. He became Goldman Sachs Merchant Banking Divisions’ Exclusive Advisor during September of 2015. He was to find opportunities in aerospace and industrial sectors while offering advice about other business. Read more at Reporter Expert.
Economic Recession and a Colossal Manufacturer
How is it that UTC was able to remain in good financial form during a recession which bringing interests of stakeholders, customers and shareholders together? The legacy of Louis Chenevert is where the answer can be found. Decline is how America’s postwar era is portrayed for the manufacturing industry. There was a fifty percent drop in the sectors contribution to GDP and once thriving businesses such as Zenith were in ruins.
There were some manufactures that thrived in the face of stifling regulations, pop culture that was indifferent and foreign manufacturers providing fierce competition. United Technologies Corporation (UTC) headquartered in Hartford, Connecticut was worth sixty-three billion at the time. Chenevert’s history with the company is impressive because it did not pay workers unfair wages, move from the original location or try to evade public matters of concern such as compliance with environmental regulations while remaining a leaver the building space and aerospace.