It is little wonder that Louis Chenevert is considered a genius when it comes to running businesses. He has had a long line of success all the way from his college years to his retirement.
It was clear to his professors at HEC Montréal that he was a business prodigy that would certainly be capable of turning a good profit. Once he graduated, he began preparing for the role of the chief executive officer by training at General Motors. General Motors is well known as a training ground for future CEOs. He worked in the production line management sector by overseeing the Pontiac creation.
In 1993 he would begin working at Pratt & Whitney as chairman of the board and as the Vice President of the company. After six years, he would be promoted to president of Pratt & Whitney.
It was in 2006 that the United Technologies Corporation would hire him on a CEO and it was here that his legacy would begin. He led the United Technologies Corporation to increase its net worth to $63 billion. Forbes.com says that to do this the shares increase from $37 all the way to an hundred $17. He was able to acquire Pratt & Whitney his former company, Otis, and the nearest competitor Goodrich. This cost his company $16.3 billion alone.
He diversify their portfolio by focusing on relatively similar products. He changes Connecticut-based factories to be more concerned about climate and control and security. They became specialists in producing air-conditioning units, refrigerators, and portable heating.
He was also able to create aerospace systems unit that look at everything from aerostructures to actuators to landing gear and even system airplane breaks. He got the United Technologies Corporation to be more in line with environmental regulations going on in the United States of America and Canada as well.
He would secure multiple contracts with the governments of Canada and United States of America and Israel and produce their military aircraft for over the next decade. This substantial income truly raised United Technologies Corporation to the top tier company that it is today.