All throughout the years there have been numerous industries that have failed to keep their footing let alone grow in the economy. One of the largest industries has seen a particular decline since the end of the second world war, industrial manufacturing. With technological advancements being made, many of the once common products were no longer necessary and many industrial manufacturers would fall.
One of the largest companies that has managed to continue to grow throughout the economical roller coaster of the global economy, is United Technologies Corporation, a multinational conglomerate that is based in Farmington, Connecticut. Much of the success of UTC is due to the hard work of former CEO, Louis Chenevert, a man who would one day lead the company to see vast growth through one of the toughest economic times.
Louis Chenevert was educated at HEC Montreal, an affiliate school of business that is with the University of Montreal. He earned his bachelor of business administration in production management in 1979. Additionally, in 2011 Chenevert also received a doctorate honoris causa from both Concordia University as well as HEC Montreal.
Chenevert began his career in business management and production by 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.
Six years of working for Pratt & Whitney allowed Louis Chenevert to 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 tenure as the president of UTC enterprise, Chenevert would see some of the toughest economic times, since this was 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, something that was seldom done at the time.
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 ability to lead a company is nearly unmatched.