Louis Chenevert is the former chairman and chief executive officer of United Technologies Corporation. He held these positions between 2008 and 2014. He was appointed the CEO in 2008 and chairman in 2010. He retired in 2014 and joined the Goldman Sachs Banking Division where he has been working since then. Chenevert held the positions of president and COO of UTC before the 2008 appointment. He started working for this company in 1993 when Pratt & Whitney recruited him. His role in this company has mainly revolved around the aerospace activities.
Louis Chenevert’s role as the CEO of UTC saw the company implement various ideas which led to the growth of the company. The leadership of the company was driven by the need to meet the needs of the customers and delivering products that would change the game in the aerospace industry. Based on those ideas, the company achieved profound change as well as strengthening its portfolio.
Under the new ideas, UTC achieved a number of developments. The F135 engine was developed to meet military needs. Today, UTC is a key supplier of jet engines to the US military. Another great achievement for Louis Chenevert was the development of GTF engine. This engine was a game changer in the industry. Some of the notable features include 20 percent better fuel consumption, a 50 percent decline in noise and fewer parts which resulted in less production cost. Under Louis Chenevert, UTC acquired Goodrich aerospace for $18B. This was the largest acquisition at the time and one that changed the course of UTC in long-term.
Louis Chenevert relates his success to his keen attention on the development of operational talent and engineering. These two factors would deliver results that would surpass customers’ expectations. Chenevert was happy with the way technology created great opportunities to increase momentum in UTC. His investment in technology and human skills was paying-off as seen from the financial results of the company.
Another factor that makes Louis Chenevert the greatest leader in this company is the fact that he managed to record profits during the financial crisis of 2008 when other companies recorded losses, UTC was still profitable.