Louis Chenevert attended University of Montreal affiliate college, the HEC Montreal. He holds a bachelor’s degree in production management, as well as an honorary doctorate from the same college. In the year 2011, he was named the person of the year by the US aviation magazine. All this was per the concrete and substantial achievements that he has achieved for the airline industry.
One of the major accomplishments that Louis Chenevert boasts of is how he managed to turn around the UTC Company. During his reign as the CEO, the firm was able to focus on the majority interests of the clients, shareholders and all the stakeholders. By achieving these tasks, the business was able to become profitable, gain a positive cash flow and earn a huge return on the investment.
One of the main challenges that Louis Chenevert faced was the economic recession and decline during the postwar period in the United States. On average, the GDP in the manufacturing sector had gone down by more than 50 percent.
Despite these challenges, some few production companies were able to survive the ordeal. The primary challenge was stifling regulations, indifferent pop cultures, and stiff competition from rival foreign companies. One of such firms was the UTC, an industrial conglomerate at that time with over $63 billion. The UTC headquarters are located in Hartford, Connecticut. One of the main impressive feats of Chenevert’s was because, despite all the shortcomings, the business was able to withstand all the challenges.
Over the years, UTC has been responsible for the manufacture and assembly of various jet engines and other aircrafts. Most of these jets are used by different defense forces across the world. The company also ventured in the manufacture and sale of commercial jets in the United States. up to date, UTC is the leading manufacturer of helicopters in the US.