Louis Chenevert: Bucking Business Trends
Louis Chenevert boasts an impressive resume. Over the course of his career, he has proven to be a thinker not confined to the traditional methods of driving profits. His unconventional techniques are the product of decades of experience. The framework for this innovation was erected at HEC Montreal where Chenevert attended college. This university was conveniently located near Chenevert’s place of birth in Montreal Quebec. However useful this foundation everything cannot be learned in a classroom. So right after receiving his Bachelor’s degree Chenevert rolled up his sleeves and went to work for General Electric. His time with this company only solidified the framework set by his education and after 14 years of dedicated service, Chenevert was ready to try his skills against the world. Read more at Forbes.com.
He began his exploration in the early 1990’s at Pratt and Whitney Canada. By the end of the 90’s, he was accepting a position as president of the company. Still, Chenevert knew he could achieve more if given an opportunity. So in 2006, he moved to fill several leadership roles at the United Technologies Corporation. Those positions included acting CEO, Director, and President of the company. His work at UTC would later inspire two universities to award him honorary doctorate degrees for his achievements. Read more at Bloomberg.
Such a bright future was not obvious at Chenevert’s time of joining UTC however. The Country was suffering from a recession and many businesses were unable to keep their doors open much less drive a profit. Louis Chenevert quickly won over stockholders by paying out regular dividends and during his time at UTC raising stock prices from $37 to $117. This major jump was achieved in an unconventional manner. While other Companies fled to cheaper operating markets overseas Chenevert saw the potentials in a well-organized company. He knew that by moving one of his manufacturing centers closer to another he could take advantage of quality employees by placing them where they are needed most. This move was also unprecedented because he actually relocated employees from a cheaper market to a much more expensive one. This is just one example of how Chenevert spent his time at UTC bucking trends and delivering unconventional results.