Louis Chenevert is undoubtedly a jack-of-many-trades. Apart from spending ample time as the Chairman and CEO of United Technologies Corporation, Mr. Chenevert has exuded insightful leadership and keen business acumen while steering the company to unprecedented heights.
Nonetheless, a few optimistic manufacturers surprisingly thrived in the rapidly changing pop culture and stifling regulations which essentially put the companies out of business. None experienced as much heat as United Technologies Corporation (UTC), a $63-billion enterprise based in Hartford, Connecticut. Unlike his predecessors, Chenevert possesses that unique ability to uphold innovation and turn UTC into a market leader through its groundbreaking aerospace and building products. At the core of such a unique strategy was compliance with environmental practices and exercising equality when paying workers.
Back then, UTC was widely considered to be at the pinnacle of its legacy by assembling sophisticated engines worldwide and serving both military and commercial customers. What’s more, the company went above and beyond to develop the best escalators and elevators while also playing a critical role in the aviation industry.
Unknown to most people, the company also spent ample time harnessing its Climate, Controls and Security business which significantly boosted its reputation in the provision of refrigeration, heating, air conditioning and fire detection. UTC’s core operations also include manufacturing landing gears, aerostructures, actuators, and brakes.
Nurturing Success through Understanding the Intricate Workings of UTC
Since taking over the company in 2006, Louis Chenevert has positively contributed to UTC’s rapid quest to industrial dominance. His ascension to the company witnessed a dramatic increment in revenues as the company kick-started various services. Chenevert stepped down from his role in 2014, but the effects of his work still remain.
As the CEO, Chenevert is credited with elevating the company’s share price from a bleak $37 to an impressive $117. Not only was this a 200 percent increment but it also highlighted the company’s potential as a dominant industry player.