Louis Chênevert was UTC’s Stroke of Luck

Louis Chênevert was born in Montréal, Québec, Canada, in 1958. Chênevert had an interest in the business world since his childhood. Chênevert worked very hard to achieve success; it did not come easy.

Louis Chênevert was a student at the HEC Montréal Business School at the University of

Montréal, majoring in production management. As production manager, one has the responsibility of making sure goods are produced efficiently. Goods must be the highest quality possible, produced quickly, and at the lowest cost possible.

After graduating from college. Louis Chênevert became production manager of General Motors of St. Therese, Quebec. Guy Hachey hired Chênevert to manage the assembly line in Montréal. Hachey was a year and a half ahead of Chênevert. Every time Hachey was promoted, Chênevert took the job Hachey left. Close attention had to be made to quickly assembled vehicles.

In 1993, Louis Chênevert started work at Pratt and Whitney in Canada a subsidiary of UTC. UTC means United Technologies Corporation. By 1999, Chênevert became president of PW after he was transferred to the United States. UTC is in the aircraft building business. By 2006, Chênevert became the director of UTC, and two years later he became the CEO. Louis Chênevert can walk into a factory, and in 15 second he’ll know if things are running smoothly or not. In order to save cost, he moved UTC to Farmington, Connecticut.

As CEO of UTC, Chênevert had many successes. Under Chênevert, the company secured a $240 million contract with the U.S. Navy because they were happy with the F135 engine UTC built for them. Goodrich had signed an $18 billion contract with UTC. Under redirection of Chênevert, UTC created the geared turbo engine or GTF engine that’s capable of reducing fuel by 16 percent and emission waste by 50 percent. In six years, the UTC stock share went from $37 to $117 a share. When he retired in 2014, Chênevert left shareholders with an 84 percent increase of this initial investment. UTC was on top and doing better in the stock market than SP 500 that was 20 points below UTC.

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