UTC Has Louis Chenevert To Thank For A Lot Of Its Success
Louis Chenevert became the President of Pratt & Whitney in 1999, and seven years later he was voted in as the Chief Executive Officer and Chairman of United Technologies Corporation (UTC). It was during 2014 that Mr. Chenevert resigned from being the CEO of UTC, but before this, he built a legacy that still stands tall today. By combining the interests of shareholders and customers, he led UTC through times of economic difficulties and recession. While many other businesses dropped under the pressure, Mr. Chenevert raised UTC out of the ruins of what could have been a failed venture. Visit United Technologies website for more info.
UTC, valued at more than $63 billion, became one of the largest industrial conglomerates during a time when regulations were stiff and the competition was tough. Louis Chenevert was able to do all of this while maintaining a fair wage for the company’s employees and while keeping up with the latest environmental standards. With its headquarters in Hartford, Connecticut, UTC has been a leader in its industry that has built some of the world’s most sophisticated jet engines To this day, the company is still a leader in the making of helicopters in the U.S.
The state of Connecticut has Louis Chenevert to partly thank for its success as a top state for manufacturing in the United States. The amazing thing about UTC is that it has been able to thrive in a state that is not known for being a low-cost place to build a business. Mr. Chenevert also took Pratt & Whitney to the heights of success before leaving for UTC. In fact, he as a large part of the company while it was having its greatest success. He was able to improve the price of UTC’s stock market shares during a time when the United States economy was in a huge recession. He brought it from a low $37 a share to the heights of $117 a share.
Without Louis Chenevert, UTC would not be half of the company it is today. He grew the company during one of the toughest stretches until it became the building and aerospace leader that it is currently. Read more about Louis at crunchbase.com.