Canadian born businessman Louis Chenevert was elected as the CEO and President of the United Technologies Corp in March of 2006, after having been with the company since 1993. He was put into the leadership role at UTC at a time when the US was going through a serious recession, but he was still successful at greatly raising the company’s shares. His strategy to maintain UTC’s stability in the market was to refrain from outsourcing its production, instead opting to bring in a crew of aeronautical engineers who could use their skills where they were most needed.
In 2010, Louis Chenevert became the 8th Chairman of the company, succeeding its previous one George David. After being given this position, he stated that he felt deeply honored and privileged to have it. United Technologies Corp is responsible for assembling some of the world’s most advanced military and commercial jet engines, and it also operates the biggest elevator and escalator company in the world, known as OTIS. During the time Louis Chenevert spent at UTC as its top executive, its annual income increased substantially, and he oversaw a philanthropic program that helped the employees of the company earn degrees in their chosen fields while the company assisted them with paying their bills.
Before joining UTC, Louis Chenevert was employed at General Motors for 14 years, and at Pratt and Whitney, where he was elected President in 1999, after being with the company for only 6 years. While at General Motors, he acquired Goodrich for around $18 billion after negotiating that deal for a year. The Quebec, Canada native has received a number of awards for his leadership skills in business, and for his philanthropy work. In 2011, he was named Person of the Year by Aviation Week and Space Technology. He is currently a Senior Advisor at Goldman Sachs Group in its Merchant Banking division, a position he was offered 10 months after leaving UTC. The exceptional entrepreneur is a resident of Hartford, Connecticut, where he is enjoying his retirement by spending more time pursuing his hobbies and living aboard his beloved 110 ft. yacht.