Louis Chenevert enjoyed a successful career in the C Suite that culminated with his tenure as the Chairman and Chief Executive Officer at United Technologies (UTC) where he served until his retirement in 2014. In a recent interview, he gave some timely answers regarding his innovative career in the corporate world. He also had successful stints with General Motors and Pratt & Whitney and his wealth of experience offer unique insights to today’s business leaders.
The game-changing approach that Chenevert helped initiate at United Technologies was the development of a strategic small group of key executives. This led to notable successes that included the F135 engine, the GTF engine development, as well as the development of new technology that doubled the speed of helicopters. These are just a few in a long list of innovative products and processes.
The GTF engine technology was a leapfrog when compared to standard engines that were in place before its arrival. It is more fuel efficient as it burns 20% less fuel and it also substantially reduces the noise output as well. Additionally, the engine is composed of 30% fewer parts which is another jump forward in engine technology. The GTF engine program has been nothing short of a home run for United Technologies.
During Louis Chenevert’s tenure at UTC, he strongly focused on operational talent and engineering to bring ideas to life. Small teams with sufficient budgets were put in place and tasked with bringing into existence game-changing products like the GTF engine and many others. He is also excited at how technology and the speed of change are creating opportunities for UTC into the future.
The bold stroke of forgoing the common trend of outsourcing is another signature achievement ushered in by Louis Chenevert. Bucking the trend, UTC utilized U.S. workers and considered it a wise business decision in light of their proximity to their operations and the highly skilled labor force.
The retirement of Louis Chenevert has seen him keep busy with fun and interesting projects like engineering his own yacht. He has completed three designs and also finds that he has more time for friends and family as well. He is also a Senior Advisor for Goldman-Sachs when he is not enjoying the yacht life.
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