How Louis Chenevert’s Commitment to Technology Contributed to the Growth of UTC

According to Gregory Hayes, the current CEO at United Technologies, investing begins immediately. An employee recently asked him what he wanted his legacy at UTC to be, and he responded that effective chief executive officers must first of all realize that they are the stewards of the companies they head. They have a responsibility of leaving their offices in better shape than before. He further explained that the only way to achieve this is to invest intensively in innovation.

In as much as CEOs cannot ignore their immediate responsibilities, they must also keep an eye on long term goals. Consequently, UTC continues to invest in technology, recognizing that the decisions they make today will have a long term effect on the company’s performance. Hayes gives an example of the Turbofan engine, which was invented over twenty years ago by Pratt and Whitney (the engine was recently on display on Capitol Hill). It reduces fuel burn by 16% and footprint by 75%. Hayes believes that the willingness of companies to invest in such technology is what drives future growth. Not only do such investments grow the business but they also support the country’s economy and creates employment opportunity in the manufacturing sector.

Innovation investment also grows the suppliers of the business due to a rise in demand. The suppliers of UTC play a major role in ensuring that the company meets the customer needs and expectations. So far, the company has spent close to $40 billion on supplies within three years. The company also encourages its employees to continue learning and improving their skills, allowing them to earn degrees in different fields and taking care of the cost.

Louis Chenevert was born in 1958 in Quebec, Canada. The businessman is the former chief executive officer at United Technologies Corporation, and also served as the president of Pratt and Whitney Canada. The performance of Louis Chenevert was remarkable when he worked for the organization.

His rise to the top rank was due to his significant contribution to UTC gaining larger market share over time. Despite the fact that Louis Chenevert was appointed during a recession, his leadership saw the company share market price rise from $37 to $117.

No doubt, Louis Chenevert had an outstanding performance during the time he led the company. His contribution will always be remembered. Louis Chenevert is also a role model to many CEOs who have led the company after he left.