Louis Chenevert has received the title of “Legendary Businessmen” along with people like Jack Welch, Bill Gates, and Warren Buffet. His accomplishments are known far and wide, and many people study his business tactics that they may learn how to be more profitable.
Chenevert’s journey all began the day he started attending HEC of Montreal, the business school affiliate of the University of Montreal. Here, he studied Production Management seeing that it provided the best path to one day becoming a CEO. During his time there, he won the affection of his professors and used those connections to land a lucrative job when he graduated. Read more on affiliatedork.com.
Chenevert began working for General Motors as a Production Manager for the division of Pontiacs. He chose this spot specifically because it was known as the good training grounds to one day become a Chief Executive Officer in another company. He worked here for fourteen years without ever receiving a promotion. Chenevert knew that he had the skills. When he approached the higher-ups, they offered him a supervisor position. However, Pratt and Whitney came along and offered to train him to be their next president.
After eight years being at Pratt & Whitney, the United Technologies Corporation with approach Louis Chenevert with a 22 million dollar package and the opportunity to become Chief Executive Officer of their company.
Chenevert Gladly accepted this offer and immediately begin to increase profits for the company. At UTC he knew that the Aerospace manufacturing Market was in constant flux so if they wanted to continue making a profit they had to diversify. He decided that the best way to do so would be to go into related businesses such as air conditioning, heating, and transport.
Louis Chenevert then propelled UTC forward by acquiring several different companies. The first company acquired was the old one he was president of Pratt & Whitney. Even acquired the world’s oldest elevator company, Otis. Lastly, in a move that shook the entire economy, he acquired for 16.3 billion dollars the company of Goodrich. These moves increased the value of the company to $63 billion. Read more about Louis Chenevert at Wings Journal.