Louis Chenevert has had a positive impact on every business that he has had his hand on; over the years, he has been part of 50 firms that have turned out successful. Louis Chenevert now lives a semi-retired life. He partly works as an exclusive advisor at Goldman Sachs. He helps the business in making wise investment decisions based on his experience and expertise in the aerospace world. Chenevert also uses this time to spend time with his family and pursue his personal interests.
Louis Chenevert began his career journey as a student of HEC Montreal where he graduated with a bachelor’s degree in Production Management. Immediately after school, he got a job at the General Motors. Here he worked for 14 years and spent this time enlightening himself on the real business world. Due to his diligence, he was given the role in overseeing production in large scale as their Production General Manager.
In 1993, Louis Chenevert was employed by Pratt $ Whitney, then a subsidiary of UTC. At his time of employment, there was a financial crisis, and most firms were falling apart. However, for Louis Chenevert, everything is about strategy and seeing beyond now. He worked, and the unit he was assigned miraculously began rising. Seeing this potential, he was promoted to the President of the firm after six years in the business.
On seeing the progress that he was making, the UTC gave him an offer he couldn’t resist, the CEO seat. On assuming the position, so many positive changes occurred in UTC. It was still a recession period, and many businesses were shutting down while others were minimizing their cost to stay in business.
While other business conducted massive layoffs to favor their profit margins, Louis moved the employees to Connecticut, where their skills would be valuable. Other firms opted to move their production to countries where they would acquire cheap labor. To Louis, this was an option as cheap labor meant cheap services.
Despite Chenevert’s decisions at the time seeming unthoughtful given it was a recession period it paid off and the company emerged the most profitable business in the USA. For this reason, UTC will forever owe him gratitude.