While there are many CEOs in the world who are capable of running a company, a good CEO who goes above and beyond what is expected of them is rare. Louis Chenevert is one of these kinds of CEOs, and he helped to build United Technologies Corporation (UTC) into what it has become, today. Chenevert has always been focused on the long-term success of UTC. Rather than getting tangled up in internal politics or other day-to-day matters involving the company, he always worked to have a real impact on the future of the company.
In 1999, Louis Chenevert became the president of Pratt & Whitney, and he had worked his way up through the ranks of the company to get there. Before working with Pratt & Whitney, he studied at HEC Montreal where he earned a bachelor’s degree in production management. This, along with his own skills, gave him the ability to take care of the manufacturing plant at General Motors in Canada before he worked with Pratt & Whitney. He worked with General Motors for over a decade before deciding he was ready to do something different.
While Louis Chenevert was with Pratt & Whitney, he began to develop the geared turbofan engine (GTF). He knew that the engine would change the face of the airline industry of the time but decided to work on it later in his career. When he was hired to work with UTC, he took the GTF engine with him and got to work on it. The GTF engine cuts down on the consumption of fuel by close to 20%, reduces emissions by 50%, and is now used in many different aircraft. The engine has made UTC billions of dollars and continues to do so, today.
No one has had the lasting effect on UTC like Louis Chenevert has. It hasn’t only been the way that he has been able to earn money for the company but also the way he has treated its workers. Louis Chenevert is known as the man who helped to setup the Employee Scholar Program, which has helped many UTC employees get their college degree. UTC remains competitive in its industry because of the hard work of Mr. Chenevert.