Louis Chenevert will go down in history books as a great businessman of our time. He will be listed up there with people such as Steve Jobs and Bill Gates. He may not be a household name, but if you look at his run as the chief executive officer at United Technologies Corporation, you will see why many of the greatest minds of our time were calling him for economic advice.
Louis Chenevert took the helm of United Technologies Corporation when the recession was ransacking and destroying businesses across the globe. Even though other businesses were not able to keep their doors open, he was able to take the stock price of United Technologies Corporation and raise it from $37 a share to over $127 a share.
When he finally stepped down from the role of chief executive officer, the executive team held a four hour celebration of his honor. They invited previous CEOs to speak at the event, and each executive prepared something to tell the audience about why Louis Chenevert was great.
One executive officer told the story about how Louis Chenevert worked with him to make UTC more safe to the environment. Running an airline manufacturing company is not exactly at the top of the list of green energy sources. He knew that it was only a matter of time before such strict regulations came which would prevent the United Technologies Corporation from doing business. Working together, this CEO and executive officer were able to decrease emissions to such a large extent that when the government of Canada passed environmental regulations, they were one of the only companies who could compete. On top of that, they were the sole producer of the parts that allowed the other airlines to stay in business. When you factor in supply and demand, you can be sure that the United Technologies Corporation made a lot of money.