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Louis Chenevert Impressive Role in the Growth of UTC

Some people have a natural way of transforming everything they touch. It is not an exception for Louis Chenevert. Just to summarize his career, Louis Chenevert has been successful. His most significant work of transformation was at United Technologies Corporation. Chenevert’s approach to the company’s growth was anchored on long-term visioning, innovation, and maintaining an excellent team. In essence, Chenevert is remembered for building a culture where the company focuses on people and technology.

Louis Chenevert was born in Quebec, Canada. He went to the HEC Montreal, where he graduated with a Bachelor’s degree in Production management. He worked as Production General Manager at General Motors St Therese operation. Chenevert stayed at General Motors for about fourteen years.

He joined Pratt & Whitney in 1993 gradually went up through the ranks the top echelons of management. Chenevert was elected the president and CEO of UTC in 2006. While still the president of Pratt & Whitney, Chenevert realized that GTF engine would be significant in the future. It is a vision he carried on to his role at UTC by marrying the two entities. Over $10 billion was invested in the designing and development of a modern jet engine in a period of two decades. The engine had reduced consumption by 16 percent and emissions by 50 percent.

The engine has received widespread use due to its inherent benefits. Today, Pratt & Whitney now boasts of manufacturing plants spread in New York, Maine, Michigan, Florida, Connecticut, and Georgia. The partnership has played a crucial role in creating thousands of jobs in manufacturing industry in the United States.

Today, United Technologies Corporation estimates that in three years, it will have created 25,000 jobs and 5,000 new positions that will support future growth. Chenevert was instrumental in building a workforce that has excellent skills and knowledge in various aspects of the company. A scholarship program was initiated to help employees advance their education. About $1 billion was spent in this initiative.

Chenevert has received various accolades, which include an honorary doctorate by HEC Montreal. He was named “Person of the Year,” 2011, by Aviation Week & Space Technology magazine.

http://www.utc.com/News/News-Center/Pages/Louis-Chenevert-becomes-the-eighth-Chairman-of-United-Technologies.aspx

The Views Of Louis Chenevert On Investing

The former CEO of United Technologies Corporation was Louis Chenevert. He had certain views about investing which still stand strong.

Louis Chenevert believed that the effectiveness of a CEO is to leave the company better than how they had attained it. The only way to do so is by investing in innovation as well as in people.

He stated that the requirement for results in the short term will always be there. But the CEO must always keep the long term in mind. This is the reason why United Technologies Corporation has continuously invested in technology as well as in people. He knows that the decisions being made today will determine the success being achieved in the future.

The Pratt & Whitney Geared Turbofan engine required an investment of 20 years along with $10 billion for designing and developing it. This is a jet engine that can change the entire industry. It can reduce fuel burning by 16%, and emissions by 50%. The noise footprint will be reduced by 75%. This GTF is being commercially used since last year. Now it is being flown on 72 aircraft being flown by 14 airlines.

Louis Chenevert has willingness as well as the commitment to investing in such technologies that will drive future growth. These investments will support the economy as well as manufacturing jobs in the US.

The factories manufacturing Pratt & Whitney are all across the country. These include Connecticut, Florida, besides Georgia, Maine, as well as New York along with Michigan. The supply chain is touching nearly each state in the U.S. These factories are producing parts or assembling or testing the GTF engine. The company continues investing in the technology. Besides, it is also investing $1.3 billion in the manufacturing and service centers based in the US in order to meet the needs of their current and prospective customers.

This would also mean an enhanced need for investing in the next generation. It is estimated that over the next few years, United Technologies Corporation will be hiring around 25,000 people. This would have 5,000 new positions that would support the growth of the innovation platforms.

Watch Chenevert speak here: