The responsibilities of a CEO create challenges for any business-minded individual, and it is further complicated by the volatility of certain markets. Businessman Louis Chenevert has displayed a prime example of how to navigate this type of career, and his impact of the manufacturing industry has contributed to the principles of effective leadership.
Chenevert made sure that investment remained consistent in UTC’s workforce as well as its other assets. The corporation operates out of Farmington, Connecticut and is subject to some of the higher operating expenses in the country. However, Louis Chenevert advocated keeping UTC in its original location and not cutting corners related to worker rights and employee retention. He also ensured the adherence to environmental regulations and United Technologies’ compliance efforts.
The efforts of Louis Chenevert paid off while he headed up UTC. The $100 billion conglomerate was posting considerable returns compared to its peers at the time, and production continued domestically with additional resources invested into innovative manufacturing equipment and technology. At the present time, UTC leads the market in production of helicopters for use in the United States and has a large presence in the climate control industry. Its current business model and healthy economic status are due in large part to Chenevert’s influence.
Prior to UTC, Louis Chenevert was president of the company’s Pratt and Whitney division that specialized in building jet engines. He also spent over a decade at General Motors in Quebec, Canada and managed its production facility. Accolades that recognize Chenevert’s achievements include the Honor Award from the National Building Museum in 2009 and an honorary doctorate from his former business school. Louis Chenevert is a graduate of the University of Montreal.