Throughout the years there have been many industries that have struggled to keep their footing let alone grow in the economy. One of the largest industries, industrial manufacturing, has seen a particular decline since the end of the second world war. With technological advancements being made, many of the once common products were no longer as necessary and many industrial manufacturers fell.
One of the largest companies that has managed to continue to grow throughout the economical journey that is the global economy, is United Technologies Corporation. UTC is a multinational conglomerate that is based in Farmington, Connecticut. Much of the recent success of UTC is due to the former CEO, Louis Chenevert, a Canadian born man who would one day lead the company to see vast growth in one of the toughest economic times.
Louis Chenevert was educated at the HEC Montreal, a school of business that is affiliated with the University of Montreal. He earned a bachelor of business administration in production management while at university in 1979. Additionally, in May of 2011 Louis also received a doctorate honoris causa from both HEC Montreal, as well as Concordia University.
Chenevert began his career in production and business management working for General Motors for fourteen years where he would grow to become a production manager. In 1993 he joined a UTC owned business unit, Pratt & Whitney, and oversaw the manufacturing of aircraft motors.
After six years working for Pratt & Whitney, Louis Chenevert would be named as the vice-president of the company before becoming the president of Pratt & Whitney. A few short years later in March of 2006 he would join UTC as the chief operating officer, president and director.
During his time as the leader of the UTC enterprise, Chenevert would see some of the hardest economic times, during the subprime recession. During his time he invested heavily into the company itself, bolstering the workforce and even relocating thousands of workers to Connecticut where they were able to diversify their work potentials.
When Louis Chenevert initially stepped in as the CEO of UTC, the share price of the company was a low $37. Through his innovative leadership the stock would rise over 200 percent to $117 per share, showing that his skills are truly unparalleled.