Great CEO’s are those that understand that they are the organization’s agents, with a role to take the organization to unprecedented heights and to leave it better than they found it. This is exactly what Louis Chenevert did during his tenure at United Technologies Corporation (or UTC), an American based firm that specializes in the manufacture and development of high-technology products.
Louis’ Achievements at UTC
Louis stepped down as the CEO of the company in 2014, but set a legacy that still remains unmatched. One of the top feats that he accomplished includes making significant market gains during the great recession and acquiring the celebrated Goodrich. In fact, this acquisition remains his signature deal in UTC considering that it took him more than one year to finish the negotiations but eventually arrived at an 18.4 billion dollars deal.
Another project that ranks high in Chenevert’s accomplishments at UTC is the GTF. An investment of 10 billion USD, GTF engine took more than 20 years to become one of the world’s most accepted jet engines. The engine is currently used by over 14 airlines and on 72 aircrafts just one year after it entered the market. GTF engine produces 50 percent less emissions, reduces fuel burn by 16 percent, and lowers noise footprint by a whopping 75 percent. The project is cited to have established Pratt & Whitney as one of the top groups in the narrow-body jet engine manufacturing market.
In 2011, Chenevert also anticipated the development of fan decoupling, which had a significant impact in the design of larger and newer jet engine designs. In a nutshell, Chenevert played a huge role in helping UTC meet its high-quality technology investment goals that still drive the growth of the company to date.
Chenevert’s Career History
Chenevert has also served for 14 years as a Production General Manager for General Motors. He also worked for Pratt & Whitney since 1993 and was promoted to the position of the company’s president after working for 6 years. Before being elected as the chairman of UTC in 2006, he served as the vice-chairman of the company’s Business Council Executive Committee. In 2015, he joined Goldman Sachs based Merchant Banking Division as an Executive Advisor.