As one of the world’s most internationally respected businessmen, Louis Chenevert has benefited from tremendous success for more than two decades.
In 2006, Chenevert was elected chief executive officer and president of United Technologies Corporation (UTC). During his tenure at UTC, a company involved in the research and manufacture of high-technology products as well as the building and aerospace industries, he played a major role in advancing the company to new heights.
For example, Chenevert played a large part in the company’s extraordinary share price rise from $37 to $117, roughly 200 percent. He was also responsible for UTC maintaining its leadership in innovation. He accomplished this by continuing to pay fair wages to workers and by conformity with environmental regulations. He also did not take part in outsourcing.
Chenevert saw the potential for UTC to make the most of its employees skills where required. He took the opportunity to reposition some aerospace engineers to Connecticut from other areas which did away with the call for laying off engineers.
Chenevert believed strongly in UTC’s Employee Scholar Program that launched before he took over. The program motivates employees to earn a degree in any field they choose whether or not it is related to their job. UTC pays for tuition, academic fees and books.
Since 1996, more than 38,500 degrees have been earned and there are more than 6,000 employees currently enrolled in the program today.
Recognized for his professional success, Chenevert was named Person of the Year by the Aviation Week and Space Technology magazine in 2011.
Chenevert stepped down as chief executive officer and president of UTC in 2014. He works as the Exclusive Advisor of Merchant Banking Division Goldman Sachs. Chenevert is also on the Board of Directors for the Congressional Medal of Honor Foundation and Chairman of the Yale Cancer Center’s Advisory Board.