Louis Chenevert, a renowned Canadian businessman, was earlier employed as the honorary CEO of UTC (United Technologies Corporation). United Technologies Corporation is a well-known American multinational organization that develops and manufactures technologically-advanced products.
The career path of this business genius (Louis Chenevert) is straightforward and successful. After obtaining his production management degree from HEC Montreal, Louis Chenevert started working with General Motors. With his productive work, he ascended through this company very quickly and secured the role of production manager. Eventually, he was selected for another important role i.e. Production General Manager where he had the responsibility of overseeing the production unit within the company (on a larger scale). Read more about Louis Chenevert at Affiliate Dork.
After working with General Motors for fourteen years, a different opportunity landed up in his career trajectory. In 1993, he joined Pratt & Whitney where he was elected as the president. Next, he was elected as the Chairman of UTC and he quickly ascended to the position of CEO. During that time, the market economy was in a serious downturn. But Louis Chenevert made a bunch of improvements to his firm in order to avoid profit losses. While he was employed as the CEO of United Technologies Corporation, he really played an important role and left behind a great legacy of unmatched standards.
The major strategy that he undertook during his employment with UTC — is to stop outsourcing. In order to drastically cut down labor costs, most companies started hiring workers from third world countries (where the workforce was available to work at a lower pay rate). But, according to Chenevert, cheap workforce would only produce cheap products. Thus, the honorary UTC CEO decided to move their workers and engineers to one centralized location where they could collectively solve problems and collaborate together for the best possible outcomes.
Obviously, this decision was not a cost-effective solution, but his firm continued to maintain an unmatched quality of production and increased the value of their stock. Apart from this move, Louis Chenevert helped UTC to acquire the Goodrich Corporation. Goodrich Corporation was one of the largest and biggest rubber manufacturers in the world. By acquiring Goodrich, UTC was able to minimize their internal costs of production and eventually expanded their market share in the global business arena. In 2011, UTC closed the deal of acquisition of Goodrich (for $18.4 billion), combined their technologies and practices, and turned it into UTC aerospace systems. This deal certainly helped UTC to gain more market dominance. Visit dailyforexreport.com to know more about Louis Chenevert.
However, in 2014, this legendary businessman decided to step down from his role as CEO of UTC. Next, he decided to live a semi-retirement life and joined Goldman Sachs as the Exclusive Advisor. But, during the entire tenure with UTC, Louis Chenevert diligently fulfilled all of his responsibilities and led his organization to the path of success. Remarkably, Louis Chenevert helped UTC meet the commitment to invest in high-quality technology and workforce which still drives growth for the firm today and creates plenty of manufacturing jobs, hence boosting the economy of the USA. Truly, his intelligence, perseverance, and leadership capability have made him an incredibly successful business professional.