Canadian-born Louis Chenevert was elected as the President and CEO of the Connecticut-based jet engine assembly company known as United Technologies Corporation in March of 2006 after having served in top executive positions at companies like Pratt and Whitney, which he was elected President of in 1999, and General Motors, where he spent 14 years and worked for a period of one year on a deal to acquire Goodrich, which he finally accomplished for a cost of an estimated $17 billion.
United Technologies Corporation, or UTC, manufactures advanced commercial and military plane engines, and Louis Chenevert was brought in as the company’s CEO during the time the U.S. was experiencing a serious recession, but using his strategic ideas, he still managed to help the business to develop steadily, which led to the stability of its financial standing being maintained. By coming up with the plan to avoid outsourcing the production of UTC’s assembly operation by instead bringing aeronautical engineers to the company’s Connecticut base where their skills could be used, he kept the company running smoothly. Under his direction, UTC continued to experience high earnings.
Louis Chenevert received his business training at the University of Montreal, where he received a Bachelor’s degree in Production Management, and in 2011, he was awarded an honorary Doctorate degree from the same university due to his accomplishments in the business industry. Among some of the other awards he has received for his entrepreneurial achievements, as well as for his philanthropic efforts, are The Person of the Year Award from Aviation Weeks and Space Technology, and the FDNY Fire Commissioner’s Humanitarian Award.
After Louis Chenevert retired from UTC, which is not only the builder of jet engines, but also operates OTIS, which is the world’s biggest elevator and escalator company, he continued to share his excellent strategic skills by becoming the Senior Advisor in the Merchant Banking Division of the Goldman Sachs Group, where he consults on how to target financial opportunities in the aerospace industry. Since retiring from his position at UTC, he now has more time to spend aboard his 110 ft. yacht.