August 3, 2017

Louis Chenevert’s Successor Following in His Genius Footsteps

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Louis R. Chênevert worked at General Motors for fourteen years as a Production General Manager. From there, he joined Pratt & Whitney in 1993. He was eventually elected to be the President and CEO of the United Technologies Corporation in March of 2006.

Chênevert‘s impressive financial performance is borderline genius and often saved the UTC from financial crises faced by other companies, such as choosing lower-cost options to avoid engineer layoffs. Chênevert’s genius could be partially accredited to his intense focus and dedication on only two markets: building technology and aerospace. In fact, that is what he made the company’s entire theme–focus.

Chênevert also promoted balance between the UTC’s different types of markets and users. By following the rhythm created by commercial and military markets, the UTC could optimize resource deployment and avoid stagnant periods and layoffs.

He also optimized company revenue by not only manufacturing products, but also providing maintenance services on delivered products. That way, UTC gains revenue in every stage of their products’ life cycles.

As United Technologies Company’s former CEO, Chênevert believed that long-term success initiatives were vital to the company’s growth and longevity. New CEO Gregory Hayes also firmly believes that the best path to success is to invest in the future and focus on long term results. He hopes to propel the company by investing in UTC’s technology innovation and their employees.

Hayes wants the company to to invest in its technology innovation, because he believes that is what will drive the company’s future growth as well as strengthen the US economy and manufacturing jobs. He also believes UTC should invest in not only their technology, but the people behind it. This is why the UTC is offering an Employee Scholar Program, which encourages employees to pursue higher education throughout their career. Hayes’s commitment to the company’s future is incredibly similar to Chênevert’s in that they both prioritize UTC’s long-term success and creating a healthy economy for the company to grow and flourish in.

Category : Business

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