Louis Chenevert: At the Helm of Greatness
In Montreal Quebec in 1958 Louis R Chenevert was born. His parents likely had many dreams for their bouncing baby boy. however, they likely could not have imagined what he would grow up to accomplish. After high school, Chenevert attended college at HEC Montreal where after several years of dedication he earned his bachelor’s degree in business administration. From there he took his first steps into his career beginning at General Electric. He ultimately stayed with that company for over 10 years rising to the position of general production manager. After such a long stay at the company, Chenevert was eager for a new challenge. He found that Challenge at Pratt and Whitney Canada. He excelled during his time there and was named the president of the company in 1999. Visit Bloomberg.com to know more.
By 2006 Chenevert was feeling eager to find a new mountain to climb. He took his skills to United Technologies Corporation where he completely changed the direction of the company. His new position included Chenevert acting as Director, President, and Chief Operating Officer for UTC.
Armed with a fresh desire to prove himself, Chenevert dove into his leadership role at United Technologies Corporation. His timing initially seemed ill-fated as the waters could not have been more turbulent. The business world was fighting back against a great storm of a recession. This recession threatened to sink many companies and much more dared not dream of growth during this turbulent time. However, Chenevert was not a typical businessman and he was not willing to let his company down. Follow Louis Chenevert on twitter.com.
Once at the helm of the corporation, Chenevert wasted no time setting its sails for smoother weather. Stock prices were at $37 when Chenevert joined the company and by the end of his time as CEO they had grown astronomically to $117 a share. This growth rewarded stockholders lavishly while avoiding more obvious tactics other CEOs employ. Louis Chenevert was able to provide this astronomical growth to his investors as well as dividends by restructuring the company in a pragmatic way. He did not believe success would be achieved by abandoning their country to move overseas, instead, he took an unprecedented approach that allowed UTC to capitalize on the excellent employees it already had.