Louis Chenevert, the Committed Company President

When current United Technologies CEO was asked what he wanted his legacy to be by an employee, the answer was that he wanted his legacy to be at UTC. The reason behind this was the belief that effective CEOs are stewards of the company. This means to make the commitment to invest in innovation and the people in the company. At UTC, this means keeping an eye on the long term, to always invest in technology and the employees. It also means realizing the decisions made now will affect future achievements.

One example of the cause and effect is the Pratt & Whitney Geared Turbofan engine that was recently displayed on Capitol Hill. The engine was a 20-year investment in design and development of the jet engine costing $10 billion. The development of the engine reduces fuel burn by 16%, noise by 75% and emissions by 50%. This engine began being used in the past year and is used by 14 airlines and mounted in 72 planes.

The company has factories in at least six states and currently can meet the demands of current and future customers. The demand increases the need to invest in future talent. UTC is estimated to hire 25,000 people in the US with 5,000 new positions in the area of growth in innovation platforms. In part, it is due to the growth of the business but also the business of their suppliers since it will ensure keeping commitments to the company’s customers. During the past three years, the company has spent about $40 billion with U.S. suppliers.

Louis Chenevert served as the Chairman and CEO of United Technology Corporation. Earlier in his career, he served as president of Pratt & Whitney from 1999 to 2006. Mr. Chenevert also spent 14 years at General Motors as Production General Manager of GM. He serves as chairman of the Yale Cancer Center’s Advisory Board, he is on the board of directors for Cargill and a member of Executive Committees of the Business Roundtable.

As a Quebec native, Mr. Chenevert earned a bachelor of commerce degree in production management from HEC Montreal an affiliate of the University of Montreal Business School.

See Chenevert speak here:

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