Technology is quickly advancing and successful people in business like Louis Chenevert know that it’s important to stay on top of it. From 2008 till 2014, he served as CEO and President of United Technologies Corporation until he decided to retire. This multi-billion dollar company has offices and manufacturing facilities in different countries around the world. One of their main focuses is engines for aircraft of different sizes through their main company and their subsidiaries.
You may not have heard of Louis Chenevert or UTC, but they have been an integral part of the NASA space program as they have supplied the fuel cell power plants for every mission they have flown since 1966. They have also large contracts with both the military and organizations in the private sector as well. They strive to be able to improve the performance of aircraft through advancing technology.
When Louis Chenevert took the positions of Chief Executive Officer and President of UTC, the company saw an impressive period of growth. The stock price of the company had tripled by the time that he made the decision to retire from the company in 2014. One of the main reasons that the company experienced this type of growth was the importance that Louis Chenevert placed in advancing the technology behind aircraft. While there were a lot of risks involved when it came to changing up some of these engines, in the end, it paid off dramatically for the company, their clients, and Louis Chenevert.
He attributes a lot of the success that he had with United Technologies Corporation to the satisfaction of the employees of the business. The company focuses on making sure that they have the best talent available and the resources that they need to be successful with their goals. By taking care of the employees, the outcome is almost always better than it would be with people who don’t want to be there. This is why UTC and Louis Chenevert have always placed so much value in making sure that their small teams have the money, tools, and freedom to create their vision.