Introduction

Louis Chenevert is an accomplished Canadian businessman and a former Chief Executive Officer of United Technologies Corporation (UTC), an American multinational company that produces high-technology products. Louis is no doubt an influential businessman who is respected all over the world because of his accomplishments. He is the force behind the success of UTC which is now leading in the production of high-technology jet engines used by the military and other commercial users. Louis is an astute leader; CEO of UTC and a great businessman are the words used to describe him. This article will focus on Louis Chenevert success story at UTC that you want to know.

Major Achievements of Louis Chenevert at UTC

-He successfully initiated the GTF engine project which took almost 20 years for it to be completed. However, his efforts paid off when the engine was chosen to be an alternative for the Airbus. This engine was proved to be 16% efficient compared to other similar engines.

-He started a $1 billion learning program for UTC employees in order to promote a conducive working environment, education, and innovation. Read more about Louis Chenevert at wingsjournal.com.

-He initiated the Sirosky unit of the UTC that is now able to make helicopters than any other company in the United States.

Louis Chenevert changed the fortunes of UTC after his six-year reign at the helm of a multinational company. He achieved more milestones for UTC than any CEO would do in our current business world. There are several UTC successes that can be attributed his good stewardship and leadership qualities as listed below:

– He promoted the company’s social responsibility when he established a scholarship program for employees which helped them to earn degrees in different specializations. The company has offered more than 39000 scholarships since its inception in 1996.

– He negotiated for one year for UTC to acquire Goodrich which assisted the company to expand its market share and reduce its internal costs.

– He managed to increase the share price of UTC from $37 to $117 despite the fact that during that time America was badly hit by recession. Follow Louis Chenevert on twitter.com.

– He developed the GTF engine which has made a great contribution to the aerospace industry to date.

– He managed to maintain the stability of UTC and refused to outsource like many companies were doing at that time. He decided to relocate some of UTC engineers to Connecticut where their skills were needed more.

– He did not lay off even a single employee during hard economic times.

Conclusion

Louis Chenevert’s success story at UTC has been made possible because of his visionary leadership abilities and putting more emphasis on employee’s potential. He understands that for any business to succeed, it must have learned and productive workforce. His scholarship program will remain to be remembered for many years to come. Louis Chenevert has scooped many awards during his career. He retired from UTC three years ago and is currently doing what he loves most: building yachts. The business world today needs more men like him!

Visit: http://www.utc.com/News/News-Center/Pages/Louis-Chenevert-becomes-the-eighth-Chairman-of-United-Technologies.aspx