1958 was a big year for many but especially so for Louis R Chenevert as it was the year he was born. A new child brings on feelings of optimism and hopes for what that child may achieve in their life and Chenevert’s parents were likely not disappointed by what their new son would go on to achieve. One of his first decisions as an adult was to go on to college. He chose a school near his hometown, HEC Montreal. He quickly chose a path that ultimately he proved to be well suited for, Business administration. After graduation Chenevert was scooped up by General Electric where he spent a lengthy period of his career. While at General electric Chenevert was able to refine his abilities and soak up even more about the business world. After 14 years with the company, Chenevert had been promoted to general production manager but he still felt like his abilities could be tested further. Read more at French Tribune.
Eager to start anew Chenevert took a position at Pratt and Whitney Canada. His notion of being meant for better things was quickly proven correct and he was named President of the company by 1999. A businessman like Louis Chenevert is always in demand however and by 2006 he was scooped up by the United Technologies Corporation. The company saw the potential of Chenevert and capitalized on it by giving him several leadership roles such as President, CEO, and Director of the company. Read more about Louis at crunchbase.com.
There are a dozen sayings that allude to Chenevert’s next challenge but perhaps the best is “Calm seas don’t make skilled sailors” and Chenevert had not started his time at UTC during fair weather. He took over leadership of the company in the midst of a crippling financial recession. Additionally, Stock prices of UTC were only $37 a share. Chenevert looked at this trying time and saw the opportunity in the strife. During his time as CEO of the company he paid to stock holders regular dividends and raised stock prices approximately 200% to $117 a share. Most impressively, this growth came from restructuring production instead of as a result of large investments or relocating overseas as many other companies were forced to do.