Louis Chenevert’s Professional Legacy at UTC

Louis Chênevert is a former CEO of United Technologies Corporation, or UTC. Also, he was formerly the president of Pratt and Whitney Canada. His education was gained at HEC Montréal, a subsidiary of the Business School of the University of Montréal to earn a bachelor’s degree in production management. Chênevert received an honorary doctorate from HEC Montréal-May 2011, a year in which he was also named Person of the Year by Aviation Week & Space Technology, a US aviation trade magazine. In 2012 he had been elected the Business Council’s Vice-Chairman of the Executive Committee. Further into the past in 1999, Chênevert was elected Pratt and Whitney’s president after working there six years. Prior to this election, Chênevert had worked at General Motors 14 years. Fast-forwarding, in March 2006, he was elected Chairman and CEO of United Technologies Corporation or UTC.

The American office of UTC is in Hartford, Connecticut. Chênevert has a reputation of paying out fair wages to employees no matter what’s going on. He was able to raise stock shares from $37 to $117 at UTC. UTC is in the business of assembling the most advanced jet engines we have today for both commercial and military uses. UTC owns Otis, which is the world’s biggest elevator and escalator company in the world.

Also, UTC is a $63 billion industrial powerhouse. Their stock symbol is UTX. They stay on top of things without abandoning the place it came from, or oppressing its workers. In January 2010, Chênevert was elected chairman of UTC and he is also known as Chief Executive Officer of UTC. UTC didn’t make huge investments in the corporation’s workforce and technology. Chênevert had relocated hundreds of aerospace engineers back into Connecticut, where there is a U.S. headquarters. Chênevert doesn’t lay off engineers like other North American companies. UTC also caters to various users in various markets through new product creation. Connecticut has a reputation for not being a cheap placed to do business in. UTC has never missed a dividend payment in 77 years, able to raise its pay out by 10%. UTC manages to reconcile the interests of shareholders, stakeholders, and customers to stay on top.

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