How Louis Chenevert Achieved Profound Success

Many people are known to change the business landscape as we know it. They leave a path to follow, which we refer to as a legacy. Canadian businessman Louis Chenevert is one such man who left a prominent legacy.

It is amazing what Chenevert did with his time at United Technologies Corporation. It was his time as Chief Executive Officer, as well as his time as Chairman of the Board, that allowed the stocks of the United Technologies Corporation to begin at $37 a share and then rise over a period of eight years to a little over $117 a share. Chenevert accomplished this through several ways.

Firstly, he spent much needed time educating his workers and spreading his vision to the executives. His workers were known, that if the slacked, to receive additional training so that they could be more productive in the plants. Also, he would spend one on one time with his executives, ensuring that they believed his vision of integrity and excellence for the company. He was so successful in this regard that his vision exists even after his departure.

Secondly, Chenevert made sure that his company bettered the environment. He was able to decrease the dreadful gas emissions by an astounding 26%. He followed up this accomplishment by lowering the consumption of water by another 53%.

Lastly, he greatly benefited the company by acquiring two of the most valuable companies he could his hands on. He purchase the largest elevator and escalator company in the world. You might know them as Otis. Then, in a move that shocked the industry and cause stocks to go skyward, he acquired the lucrative company Goodrich. This cost his company $16.3 billion. Of course, this move raised Chenevert’s company’s worth to $63 billion. Chenevert did a marvelous job at the United Technologies Corporation.

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