Louis Chenevert’s Contributions to Business and People at UTC
Successful and compassionate business people are few and far between. You have those who are great at business but lack the thoughtfulness that makes a person a good leader who puts others first. They don’t compromise the well being of others to get ahead. Who says you can’t do both? One man is a shining example of this.
Louis Chenevert is a Canadian businessman who puts his best foot forward when it comes to doing business. He spent over 14 years at General Motors as their Production General Manager. It was a very fruitful experience until Louis signed on with Canada’s Pratt & Whitney in the early 1990’s. After six years of hard work and dedication, Chenevert was elected President for Canada’s Pratt & Whitney. Fast forward to 2006, Louis Chenevert was elected Chairman and CEO (Chief Executive Officer) of the whole United Technologies Corporation, also called UTC.
As Chief Executive Officer of a company you not only have to think and improve the state of the company in the present, but also the future. Louis Chenevert did just that. He was forward thinking when it came to employee wellness, environmental factors, and profits for the company. At Pratt & Whitney Louis helped cut down waste tremendously. They reduced their environmental footprint by cutting down emissions from greenhouse gasses by 26 percent. Water consumption was reduced by a whopping 53 percent! This took time, lot of money, and effort. $10 billion dollars and 20 years later they created an industry-changing jet engine that produces 50 percent less emissions, reduces fuel burn 16 percent, and cuts the noise footprint by 75 percent. These jet engines are the world’s most advanced and are sold to commercial and military users. UTC also is the leader of producing refrigeration, heating, and air conditioning. Another sector of UTC called the Sikorsky unit makes the most helicopters in the United States. They also produce flight controls, sensors, actuators, landing gears, brakes, and much more.
Under Louis Chenevert’s wing, UTC created a Employee Scholar Program. Investing in employees will most definitely further a company’s success. Almost 40,000 employees have received a college degree, the fees were paid by UTC. The program started in 1996 and has been going strong ever since.
In 2015, the successful businessman joined Goldman Sachs in the Merchant Banking Division. In his role as Executive Advisor he found special opportunities in the aerospace and industrial sectors.