There are only a handful of individuals who make their mark in the business world. The chances that an entrepreneur will become successful in their professional lifetime is very low. One such Canadian-based entrepreneur has made his mark in the business world. The story of Louis Chenevert is highlighted in a recent article by Brian Harris in Releasefact.com. We will recap the article below and we will focus primarily on his time at UTC.
Louis Chenevert was born in Montréal, Québec in 1958. Louis attended college at the University of Montréal and majored in Production Management. At college, he attended the HEC Montréal Business School. Louis got his first big break in the business world at General Motors (GM) in Québec. After spending 14 years at GM, Louis was influenced to enter the aerospace industry under the advice of another GM colleague by the name of Karl Krapek and he later joined Pratt and Whitney Canada (PWC) in 1993. He later became president in 1999.
Louis counterpart, Karl Krapek, was CEO of United Technologies Corporation (UTC) from 1999 to 2002. UTC was the umbrella company for PWC. UTC later found much potential with Louis and that led to Louis being Director of UTC in 2006. UTC also specialized in other products such as: security systems, HVAC systems, and airplane engines. Louis led the efforts to promote the GTF engine that would impact the airline industry. Under Louis’ direction, the GTF engine market was put back in the right direction and made PWS relevant again. In 2008, Louis was named President of UTC. Louis made significant changes upon his tenure as President. He moved UTC’s manufacturing back home instead of overseas. One other key goal under Louis’ watch was obtaining a U.S. Navy contract to work on the F135 aircraft engine. With these moves, UTC’s stock soared and eventually UTC was sold to the Goodrich Corporation.
Louis retired from UTC in 2014 and continued his education where he was honored for his contributions to the aerospace industry. As you can see, Louis has definitely made his mark as a true entrepreneur!