There are few people in business as legendary as Louis Chenevert. This man single-handedly took a million dollar corporation and transformed it to have a massive net worth. The reason he was able to do this is that he discovered what it took to have a solid foundation in business and implemented that at United Technologies Corporation.
Louis began his career by attending HEC Montreal, which is an affiliate of Montreal’s University. Here, he would receive a Bachelors Degree in the profitable market of production management.
Fresh out of college, he was hired by General Motors as a production general manager. It was here that he would work for 14 years. He performed so well in this role that he was approached by Pratt & Whitney to become that company’s president. Even though he knew very little about aircraft engine manufacturing, they knew he was the correct fit.
During his time as president of Pratt & Whitney, he would increase their profit margins by 100% and would set them up as a major player in the business. However, he left Pratt & Whitney to work for the United Technologies Corporation.
In 2006, he became the Chief Executive Officer of UTC. A year later, he also became chairman of the board. He was tasked with research and creation of high technology products, specifically jet engines for the Commercial and Military sectors, and to produce sensors, flight controls, and other aerospace systems.
What raised the United Technologies Corporation above the bar was several key acquisitions that Chenevert made. One of the acquisitions was Otis, the world’s oldest elevator company. Also, he acquired his former company, Pratt & Whitney. The main acquisition that put UTC on the map was the acquisition of Goodrich for 16.3 billion dollars. These business mergers raised the UTC’s estimated value to over $63 billion as the shares would increase 200%.
After his time with United Technologies Corporation, Louis went on to become a consultant with Goldman Sachs in the merchant banking division. Here he would receive an undisclosed compensation in return for his services.