Louis Chenevert is a Canadian businessman was born in Montreal, Quebec. In 1979 he graduated from HEC Montreal Business School with a degree in production management. He started his professional career at General Motors where he was a general production manager. He stayed with this company for 14 years before leaving to join Pratt & Whitney. He was hired as their vice president of operations and then became the company’s president.
In March 2006, Louis Chenevert became one of the top executives at United Technologies Corporation. He was named as the firm’s president, director, and chief operating officer. He was elevated to the role of chief executive officer in 2008. In 2010 he also became the company’s chairman of the board. He left this firm in December 2014 and is now an exclusive advisor at Goldman Sachs.
While serving as the CEO of United Technologies Corp. Louis Chenevert put together the biggest merger and acquisition deal in the history of the aerospace industry. It was in 2010 that, after a year of negotiations, his company acquired Goodrich for $16.3 billion. The market was depressed at that time so he was able to buy Goodrich for a very good price. As United Technologies is the largest engine-maker in the world the company now owns the biggest supplier of plane landing gear and breaks. This also made United Technologies a company that can make every part that goes into an airplane outside of avionics.
Louis Chenevert was very innovative when it came to the plane engines that his company built. He had put together a revolutionary plane engine that is called a geared-turbofan. This fan reduces the use of fuel used during flights by about 16%. It also reduces by 75% the amount of noise that is generated when an airplane is taking off or landing.
While Louis Chenevert was leading United Technologies is was also the most profitable company in the S&P 500. In the last year of his leadership the annual profits had soared by 11.4%. The next closest company that year was General Electric which had profits increase by 8.2%.