Louis Chenevert studied at Universite de Montréal where he earned his bachelor of commerce in production management. Since leaving university, Louis has had several prominent jobs. He joined general motors as his first job. He worked as a production manager for fourteen years after which he joined Pratt & Whitney.
In 1999 he was promoted to the president of Pratt & Whitney were served until March 2006. After this, he started working as a director at United technologies. He quickly advanced his career and became president and CEO in April 2008.
The Canadian businessman has also had several roles to play in different boards. He joined the board of Cargill Inc. In June 2011 and is still a member up to date. At HEC’s international advisory board of Montreal Louis Chenevert serves as its chairman. Apart from being the founder of Friends of HEC Montreal, he also chairs the board.
Many top managers have to come up with ways of improving their business performance. One of the commonly ignored factors that greatly contribute to business performance is the employees. Louis Chenevert was a wise leader who never looked down on the impact of his employees.
When serving as the president of United Technologies, he came up with a lifelong learning program for employees’.Under his leadership, the stock prices of United Technologies tripled up. The employee scholarly program he created was for any of his employee who wanted to achieve a degree in any field. The organization would then finance the employee’s full tuition bill.
The program saw that 39000 degrees had been achieved by the employees and the organization spent around one billion on this project. The project might have seemed like an additional expense to the company but Louis Chenevert knew that by educating the employees he was improving their skills.
By having new degrees in the company it would enable the company to hire or give promotions from within the company. Hiring from the company would reduce the training expense since the employees already know some information on the company.
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Louis Chênevert is a successful businessman who, beginning at a very young age, realized that he had an interest in the world of business. Early on he also knew and understood that in order to be successful he would have to have a serious dedication to hard work.
After completely high school, Chênevert attended the University of Montréal where he studied production management. At the time, Chênevert’s ultimate goal was to help be an integral part of a business’s success and studying production management would give him the qualifications necessary to meet that goal. In his studies to become production manager, Chênevert learned how to ensure that quality products were being produced in the proper quantities all while trying to keep costs down, all of which are critical to a business’s success.
The first job that Louis Chênevert had after completely college was with General Motors where he was put in control of the assembly line. Chênervert held a number of positions with General Motors for over 14 years before he decided to switch career paths. In 1993, Chênevert joined the aerospace industry at Pratt & Whitney Canada, a smaller division of the larger company Pratt & Whitney, which is a company that specializes in aircraft engine manufacturing. After working for three years at Pratt & Whitney Canada, Chênevert became the executive vice president for operations of the larger company Pratt & Whitney. In just three more years’ time, Chênevert became the President of the company and is credited with making the struggling company profitable.
During his time at Pratt & Whitney, Chênevert had the realization that the geared turbofan (GTF) engine had the potential to be revolutionary in the aerospace industry. However, he put this thought into the back of his mind and he continued to work his way up the leadership chain. In 2006, he became the chairman of corporation and a director at United Technologies Corporation (UTC), and in 2008 he became the chief executive officer and president of the company. It was at this point that Chênevert decided to pitch his idea about the GTF engine to United Technologies Corporation, who has been dedicated to its development and improvement ever since.
Louis Chênevert retired in 2014, but, has been credited with a number of success United Technologies Corporation has seen. For example, because of him, UTC signed a $240 million-dollar contract with the United States Navy and, as of the time he retired in 2014, UTC’s stock had raised from $37 per share to $117 per share. There is no doubt that Chênevert’s realization that he would have to work hard played into the amount of success he saw throughout his career.