Former chief executive officer, president, and chairman of United Technologies Corporation, Louis R. Chenevert, served with utmost honesty and dedication until his retirement in 2014. He attained the rank of President and chief executive officer in 2008 and was later appointed as chairman in 2010. Previously, he served as president of Pratt & Whitney from 1999 until he joined United Technologies Corporation in 2006. Before he obtained a position at Pratt & Whitney, he worked at General Motors as the Production General Manager.
From 2015 to 2017, Chenevert served as a Senior Industry Advisor at the Goldman Sachs Merchant Banking Division. He is also a former member of the CEO Forum for USA and India. Since 2011, he has served on the Board of Directors of Cargill Incorporation. He acquired the chairman position at the Congressional Medal of Honor Foundation in 2017 and currently serves in the Yale Cancer Center’s Advisory Board as Chairman. In 2011, he attained an Honorary Doctorate from the University of Montreal. He is the chairman and founding director of the Friends Board of Directors for HEC Montreal, as well as the chairman of its International Advisory Board.
After he got promoted as CEO of UTC, Chenevert managed to improve and sustain the company as it was a period of crisis for many companies. Interesting to note, as majority of other companies focused on cutting costs by moving their production to countries that would have them spending less, Louis moved their production to the United States of America. He reasoned that cheap labor would bring about cheap products, thus poor results, leading him to transfer the workers and engineers to the state of Connecticut where they would work together. The objective of this endeavor was to allow the best minds in the group to work together, solving the highlighted problems, and leading the rest of the team to achieve the desired goal. As much as this was not the most cost effective alternative, it was worth it as they were able to continue producing high quality products.
While at UTC, one of the achievements of Louis Chenevert that stood out was his ability to strike a deal with Goodrich Corporation. They were able to buy the company which they combined with a different property, resulting in the development of UTC aerospace systems. Through this endeavor, the United Technologies Corporation was able to achieve high market dominance throughout the globe.