Louis Chenevert is the former CEO of UTC. His reign in the industry led to his legacy and great reputation. He is associated with more than 50 successful businesses. Louis Chenevert transformed UTC into a successful conglomerate by making it the most profitable corporation in the USA. This was through his intelligence and creative thinking.
Louis Chenevert is considered the king of acquisitions. Through his significant purchases, he was able to improve the production of UTC. Louis made history by striking the most significant aerospace deal in the USA. He bought the Goodrich Company at $16 billion. There were many negotiations involved, but he finally got the deal.
Another of Chenevert’s acquisitions that is known to have made a difference is the GTF engine deal. It is important to note that Louis was an employee of the Pratt & Whitney firm before joining UTC. In fact, he served as their President.
During his time in Pratt & Whitney, he realized that the GTF engine had a lot of power. When he joined UTC, he led to the purchase of the engine. It cost the company another $10 billion and two decades of adjusting and designing the engine.
The acquisitions of Louis Chenevert have been very productive in the company.
Louis Believe in Investing in the Future
Louis Chenevert believed in investing in the high future technology. He believed that by so doing, he was helping save the country from future financial crisis.
By investing in future technology, he was not only referring to the resources but human labor as well. This is why when many companies were busy conducting layoffs to remain in business during the recession period, he chose to move his labor force to a center position where they would empower each other and come up with master plans.
Louis Chenevert believes that you can only perform as well as your team can perform. It is, therefore, essential that employers invest in their teams. The current UTC CEO holds the same belief and has maintained the system that enables the UTC employees to acquire degrees of their choice for free. He says it has improved the productivity of the organization.