Louis Chenevert Dominated in Tough Times
Canadian-born businessman, Louis Chenevert, has held several high-ranking positions in some of the world’s most powerful corporations throughout the world. One of the most prominent roles that Mr. Chenevert played throughout his career, was as the Chairman and Chief Executive Officer of United Technologies Corporation, which he ascended to in March of 2006. He is also well known for his work as the President of Pratt & Whitney Canada, for which he worked for six years prior, as well as an additional seven years as one of its most powerful executives. Before Mr. Chenevert began his amazing career in the world of business, he attended HEC Montreal, which is a subsidiary of the Business School of Montreal, where he majored in production management.
Louis Chenevert’s time with United Technologies Corporation can be remembered as one that would take an already-thriving company to heights few believed could be achieved, at a very dark financial period in America. In modern United States history, times of war have represented a decline for many companies that specialize in the manufacturing of goods or products. Under the leadership of Louis Chenevert, United Technologies Corporation was able to thrive considerably despite the economic environment, bringing in as much as two times the returns that the average company featured on the S&P 500. At the beginning of Mr. Chenevert’s time with United Technologies Corporation, the stock price was a terrible $37, but by the end of his term with the company, the stock price had risen to $117. Due to the savvy maneuvering of Mr. Chenevert, the company also failed to see the losses among employees during the recession, and in fact, helped to boost morale considerably by choosing to relocate a number of engineers from the aerospace sector, placing them in a community that featured upgraded living conditions that would allow them to perform on the job more efficiently. The two sectors affected most greatly during Louis Chenevert’s time at United Technologies Corporation were building and aerospace, which helped to keep the company on the cutting-edge, as well as allowing for a positive influx of finances.