Category: Canada

UTC’s Louis Chenevert Had A Huge Impact On The Corporation

Canadian born businessman Louis Chenevert left a sparkling legacy at the manufacturing giant UTC. United Technologies Corporation is a conglomerate or corporations including one that Chenevert worked for many years called Pratt & Whitney. They manufacture anything that has to do with aerospace like jet planes, helicopter, and the pieces used on these aircraft. United Technologies Corporation are known for supplying the military and commercial companies with the most advanced jet engines the world has seen. They make aerostructures, flight controls, flight sensors, brakes, actuators, and landing gear. UTC is also the top manufacturer of helicopters in America. On top of that they are biggest manufacturer of escalators and elevators in the entire world. United Technologies Corporation is the leader in refrigeration, heating and air conditioning equipment, and fire detection in the United States. (More: reporterexpert.com/louis-cheneverts-business-successes-past-present-future/)

 

 

When the United States was in the recession Louis Chenevert single-handedly brought the price of stocks up 200 percent, from $37 dollars a share to $117 a share. UTC was also able to pay out dividends to shareholders after nearly 70 years. Another notable accomplishment on Louis Chenevert was in the acquisition of Goodrich Tires for $18.5 billion dollars. It took about a year of negotiations but with patience and drive, Chenevert was successful. He brought UTC massive profits and worldwide recognition for superior craftsmanship without batting an eye. Through this he upheld high standards of not harming the environment, upsetting local communities, outsourcing production, paying unfair wages, or doing any unnecessary firings. Louis really looks at the big picture when it comes to businesses and plots out the future, so they continue to thrive. That is why Louis  Chenevert is so successful at whatever he puts his mind to. Visit This Page to learn more.

 

Mr. Chenevert previously worked for General Motors as Production General Manager. He served the company for 14 years. He currently works as the Executive Advisor at Goldman Sachs. Louis Chenevert attended HEC Montreal where he got his Bachelor of Business Administration degree in Production Management. This was in 1979. He also received a doctorate honoris causa from the same University. He lives in Hartford, Connecticut with his wife. It is also the headquarters of United Technologies Corporation.

 

View Source: https://affiliatedork.com/how-former-ceo-louis-chenevert-helped-utc-become-a-global-force

 

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Legendary Louis Made UTC

Louis Chenevert is a legend among business executives. When people look at his run with United Technology Corporation, it is no wonder that he can be called one of the greatest businessmen of all time.

 

During his time at United Technologies Corporation, he was able to stabilize the aerospace manufacturer during a time when the entire industry was in flux. He was able to do that because he expected the company to have assets in other sectors. This allows him to do several things. He was able to use the profits in other sectors to offset the deficit in the aerospace industry. Also, because he included them as subsidiaries of the larger Corporation, should there be a profit loss, he could dump them on the subsidiary without affecting the main Corporation.

 

During his time working with United Technologies Corporation, he was able to raise their stock price from a respectable $37 to a fortune making $117. His reward for this was a compensation package totaling over $22 million. In this compensation package, over 4 million was given as stock options, over 4 million was a cash bonus, over 1 million was a salary, and over 11 million contained other options granted to him. Visit This Page for more information about Louis Chenevert.

 

 

During his run as the chief executive officer, one of the main things he had to do was secure more contracts from dependable organizations. Chenevert began by expanding into creating jet engines for both the military and private corporations. His skill at bartering and negotiation was able to land him contracts to the point that United Technologies Corporation eventually became the world’s largest provider of military aircraft. In order to keep expanding in the military sector, United Technologies Corporation would acquire Goodrich for $16.3 billion investment.

 

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He was able to keep United Technologies Corporation stable by spreading out into the refrigeration and AC industry, producing sensors, flight controls, and aerospace systems. Working in these related but different sectors allowed him to offset the deficit and once the aerospace manufacturing industry stabilized to secure great profits for his wonderfully growing company.

 

He would step down in 2014.

 

View Source: http://www.utc.com/News/News-Center/Pages/UTC-Chairman-Chief-Executive-Officer-Louis-Chenevertrecognized-with-the-Publi.aspx