Louis Chenevert – the Legacy and the Man

Louis Chenevert is a man who is as successful as they come. He is known as a legend in the aerospace and high technology fields with his work as Chief Executive Officer of the United Technologies Corporation. After you hear of all his achievements in this corporation you will have no problems understanding why he left a legacy.

When Chenevert arrived at United Technologies Corporation, though they were a successful business, they were in no way at the level they should have been. Chenevert immediately began to give an overhaul to the corporation.

Firstly, Chenevert’s goal was to establish a series of factories in Connecticut. The first of these factories was Climate, Controls & Security, which focused on the section of refrigeration and cooling and fire detection. The second factory was actually the official headquarters which was stationed right there in Harford Connecticut.

The second goal of Chenevert was to establish a presence in the industry through several acquisitions. The first acquisition was that of Otis, the largest and oldest elevator company in North America. The second acquisition came from his surprising acquisition of Goodrich. When Goodrich was acquired, it was a record breaking amount for the industry. Goodrich was acquired for a sum of $16.3 billion.

It was through these two goals being achieved that Chenevert was able to increase the stocks of the company from a respectable $37 a share to a cash cow amount of $117. Chenevert’s time at UTC was an utter success.

All this was made possible due to Chenevert’s past experience. Chenevert had attended the branch school of the University of Montreal known as HEC of Montreal. With his Productions degree he would go on to work for General Motors before being hired by Pratt and Whitney to serve as their president before going to United Technologies Corporation.

After his service in the United Technologies Corporation, he was picked up by Goldman Sachs as a consultant, whose financial compensation package has yet to be revealed to the public at this time.

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