Louis Chenevert has been credited with huge success in his profession. He is a visionary leader who has been feted in different fields. Born in 1958 he has served in different capacities at the United Technologies Corporation (UTC). Before being appointed Chief Executive Officer, he was the President at Pratt & Whitney where he had worked for six years. In his capacity as CEO of UTC, he made notable contributions to the success of the company. When he resigned from his post in what was seen as a hurried move, he shocked investors, the board, and analysts. Although his reasons for departure were not elaborate, speculations as to why ran through like wildfire.
During the economic recession in 2008, Chenevert was the CEO; he is credited with managing to keep a manufacturing company afloat at a time when companies were closing down and laying off employees. While companies that once thrived in the manufacturing industry gradually wasted away to oblivion others such as UTC managed to thrive into a conglomerate. The success story of UTC cannot be complete without mentioning the role that the Canadian businessman played in seeing it through hard economic times. He is also credited with steering the company towards the aerospace direction with innovation and still remaining at its birthplace.
During his tenure at UTC, Chenevert invested his independent thinking capabilities to achieve the perfect balance in aerospace and building markets achieving the perfect balance and success in both. For is success creating the perfect business strategy, he is regarded by most of his peers and business leaders as a think tank. He managed to create a sustainable high product creation process that remains the standard practice at UTC even after his departure. He is also known to be a strong negotiator in boardroom contracts which have managed him to land big contracts. Even in the consolidation of several departments and subsequent diversification into new lines of revenue creation he never saw the need to lay off employees which was the standard practice for most companies who tempted to do what he did.