It’s impossible to have a perfect house without a perfect foundation. United technologies corporation, UTC, is such a house; perfect. Looking at this company among its peers, it stands tall. This can be credited to one thing, a leader who labored to lay the right foundation. UTC’s current CEO Gregory Hays today enjoys the input of his predecessor Louis Chenevert. He has employees who are focused on the company goals and a company whose culture is to leave a mark. He keeps reminding them of this telling them to make sure the leave it better than they found it.
In his reign as the CEO of UTC, Louis Chenevert did such a commendable work. Right from the start, he was not only interested in making profit now. He was concerned about the company’s future. At the time he was moving from Pratt and Whitney to UTC, the economy was not great. Most companies were outsourcing to foreign nations because of the great recession. Instead of going with the popular view, Louis Chenevert moved all working divisions to Connecticut. This helped the company worker to work together from one station to solve the company’s problems and saved the company a great deal of money. It also ensured that the company didn’t compromise of their production quality.
He also turned UTC into a multinational conglomeration by acquiring the Goldrich Corporation. Goldrich Corporation was once the world’s largest rubber manufacturer. By acquiring it, UTC got an aircraft component manufacture. This helped them reduce the internal cost of production and expanded their market share. Right now, UTC is a force to reckon with in the aircraft market.
Louis Chenevert’s reign as CEO of UTC also saw the company move to greater markets. Having the company’s future at heart, he partnered with Pratt Whitney, a company he had forked for for years to produce the turbofan engine. This was a major game changer for UTC since it enabled it to sell these engines to over 14 different airlines and in over 70 planes. This has seen UTC grow in terms of size and profit.
Now that he is no longer the CEO of UTC, what is Louis Chenevert up to? Today he is semi-retired. He spends most of his time with family and following his personal passions and works with Goldman Sachs as an exclusive advisor.