How Louis Chenevert Successfully Led United Technologies Corporation

As the top executive at United Technologies Corporation (UTC), Louis Chenevert was highly successful managing the company. He was the company’s Chief Executive Officer and Chairman of the Board for several years. Prior to this he was the President of one of the company’s divisions, Pratt & Whitney. While he was leading UTC the company became worth almost $100 billion.
One of Louis Chenevert’s early focuses as the CEO of UTC was acquiring Goodrich which was one of his company’s competitors in the aerospace industry. The deal between the two companies took over a year’s worth of negotiation. Eventually, the leaders at Goodrich agreed to a deal that was worth $18.4 billion.
As the top executive at UTC, Louis Chenevert was dedicated to investing in the employees of the company. This included actively promoting its Employee Scholar Program. Any employee that wanted to further their education in their field had their tuition paid for by UTC. This program has been very popular at the company and since 1996 more than 40,000 employees of the company have taken advantage of it.
Louis Chenevert was also very dedicated to making sure UTC was at the forefront of technology in the aviation industry. He spent a large amount of the annual budget on acquiring new technology. He considered this to be future-proofing the company as the industry that UTC operates in is highly competitive. Any company that lags when it comes to incorporating new technology will fall to the wayside rather quickly.
Another big achievement at UTC that Louis Chenevert had was gaining the contract to design and manufacture a “second alternate engine” that the US Air Force wanted to have built for them. The Pratt & Whitney division of his company won the contract after Chenevert lobbied hard for it.
Having left the aviation industry behind, Louis Chenevert is now working for the financial giant Goldman Sachs. He joined the company in September 2015 after having retired from his positions at UTC. He serves as a financial advisor where he specializes in both the industrial and aerospace industries.