When business executives think of success, no person comes to mind as quickly as Louis Chenevert. Louis Chenevert has been a grand success as Chief Executive Officer for the United Technologies Corporation. During his eight-year run with the company, he was able to increase their shares from $37 to $117 and cap the value of the company at $63 billion. His success earned him a compensation package totaling $22,032,175. This was sectioned off as $1.3 million for salary, a cash bonus of above $4 million, stocks totaling over $4 million, and options granted to nearly $12 million. Such achievement causes many businesses to inquire how Louis Chenevert was able to pull have such a great achievement. Read more about Louis Chenevert at Crunchbase.
Louis Chenevert’s greatness started when he laid a solid foundation during his time at HEC of Montreal, the extension school of the University of Montreal. During his time in University, he focused on obtaining a degree in production management.
Louis Chenevert’s greatness continued when he took his first job at General Motors. Louis Chenevert strategically chose where to work starting off. He knew the General Motors was not only a company that paid well but also was a great training ground for future Chief Executive Officers. Louis Chenevert would work here as a Production General Manager for fourteen years. Read more about Louis Chenevert at wingsjournal.com.
After his successful run at General Motors, he would be approached to work for Pratt & Whitney. After only six years at this company, he would be elected the President of the company, a role that he would hold for seven years. It was here that he cut his teeth in aircraft manufacturing, a sector he would excel in when he went to United Technologies Corporation.
In 2006, he left Pratt & Whitney for United Technologies Corporation and surpassed all expectations. He increased United Technologies Corporation’s market share through several key acquisitions. Louis Chenevert would lead the way in acquiring Pratt & Whitney, as well as Otis, which is the oldest elevator company in the world. However, the gem that put United Technologies Corporation on top was acquiring Goodrich for $16.3 billion.