In the postwar era, America’s manufacturing sector has remained in the woods, with a GDP barely half of the 25 percent that it registered in the 1950s. The once superior manufacturing brands like RCA, Baldwin Locomotives, Bethlehem Steel and Philco have all withered. However, a few manufacturing enterprises in the US have not only managed to survive, but also thrive in this postwar era. United Technologies Corporation (UTC) is a good example. UTC has beaten the odds of foreign competition, diverse popular culture and heavy regulation to emerge as an industry leader. UTC has stayed on top of the game in aerospace technologies without changing its original offices or compromising public matters such as environmental compliance. Louis Chenevert was the force behind the $100 billion conglomerate that has maintained a steady financial performance.
Until December 2014, Louis Chenevert led UTC as the chairman and CEO. After working for General Motors for over a decade, the visionary leader joined UTC’s unit, Pratt & Whitney. After six years of outstanding performance, Louis was promoted to serve as the president of Pratt & Whitney in 1999. His professionalism and unique leadership style earned him even higher positions. The board of the company named him as the president and CEO of United Technologies Corporation. His tenure at UTC is highlighted by impressive records like overseeing the acquisition of Goodrich by leading the negotiations. At the company, Louis focused on investing in the advancement of technology and growth of individuals.
His strategy of investing in the people is captured by the unique Employee Scholar Program. Chenevert invested in it for purposes of enabling workers to access scholarships and advance their studies. He is also credited for securing a contract on behalf of Pratt & Whitney to supply F-35 engines to the US Air Force. Under Louis’s visionary leadership, the company’s unit, Sikorsky, grew to become the leading manufacturer of helicopters in the US. The celebrated leader continued with his strategy of investing in advanced technologies. In a period of over 20 years, Louis committed $10 million in the development of the GTF engine by Pratt & Whitney. The executive delivered exceptional results in everything that he touched. Even after his departure, the company continues to benefit from his business strategies.