Louis Chenevert is a legendary businessman who has run United Technologies Corporations successfully as a chief executive officer.
Chenevert began his illustrious career by attending the affiliate business school of the University of Montréal. It was here that he would gain a degree in the profitable field of production management.
Upon graduation, he landed a job working for General Motors as a supervisor on the production line for the Pontiac division. He specifically chose this job because it would teach him the fundamentals needed to one day be a CEO. After working here for 14 years, Chenevert decided that he would pursue other occupations.
Chenevert was approached by the aerospace manufacturer Pratt & Whitney to be trained as their next CEO and president of the company. Chenevert began by working as a chief operations officer underneath the tutelage of the current CEO. Once he had worked in that position for six years, he was promoted to president of the company and chairman of the board. See This Page for more information.
Chenevert would leave Pratt & Whitney and take a job as the chief executive officer of United Technologies Corporations. It was here that he would solidify his label as a legendary businessman.
When Chenevert took on the role of CEO at United Technologies Corporations, it was during the time when the world economy was experiencing a recession. This recession particularly hit the aerospace manufacturing market a hardest. During this time, United Technologies Corporations was dealing with deficits in their prime market. Check him out on Forbes.com.
Chenevert decided that he would offset these deficits by expanding into related but not identical marketplaces. He began by purchasing his old company Pratt & Whitney and using their military contracts to stabilize the profit margin over a ten-year period. Louis Chenevert was so successful in this endeavor that United Technologies Corporations became the world’s largest military helicopter producer.
Chenevert would also acquire the oldest elevator company in the world Otis. He would use their connections with the heating and cooling industry to expand into the refrigeration and home heating markets. His greatest accomplishment, which made him legendary, was acquiring Goodrich for $16.3 billion.