Brilliant businessmen are not born every day. However, one was born in Montreal, Quebec in 1958. What was the name of this future pioneer in industry? Louis R. Chenevert. Chenevert Began his post high school education with a Bachelors in business administration from HEC Montreal in 1979. He went on to earn an honorary Doctorate from HEC Montreal in 2011 and from Concordia University later in 2014. After earning his bachelor’s degree Chenevert worked for general motors for over a decade. During his time with the company, he became the general production manager. In 1993 Chenevert left General Motors to join Pratt & Whitney Canada. By 1999 he was named the President of Pratt & Whitney. Always seeking new opportunities Chenevert became the chief operating officer, president, and director of United Technologies Corporation in March of 2006. Go To This Page for related information.
Once on board with UTC Chenevert was able to put his expertise to work. When he took over the reins at the company the country was in the worst parts of the recession. This obviously, created a unique challenge for Chenevert but not one he would bow to. During this turbulent time when many companies were going under due to the economic stress, Chenevert was able to grow the company. He was responsible for bringing share prices from $37 a share to $117. In addition to this astronomical growth, dividends were regularly paid out. In addition to providing these steep returns to investors, Chenevert impressed stockholders as well as colleagues by not obtaining these results in the traditional way.
This growth wasn’t built on steep new investments in the workforce or technology nor did he engage in the common practice of outsourcing production. In fact, in some cases, he went against traditional wisdom and even moved some production to more expensive areas. Although it seemed like madness to those unfamiliar with Louis Chenevert’s unconventional techniques, this move ultimately paid off in spades. Chenevert knew that by moving the production to this new location he would be able to capitalize on the company’s workforce being together. This allowed UTC to take advantage of having production together. Check him out on Yachtingmagazine.