Louis Chenevert: Person of the Year
An employee asked CEO Gregory Hayes what he wanted his legacy to be at the United Technologies Corporation (UTC) during a meeting. Hayes said that the most effective CEOs are the ones who understand that they are the company’s stewards and their work is to leave the business better than where they found it. Hayes continued to say that CEOs can’t overlook the performance requirement in the short term, they should always keep their eye to the long term. United Technologies always invests in technology, and their people realize the decisions they make now will determine their future success.
Hayes always says that companies do not innovate, it’s the people who do. The company believes its essential investing in their people, that’s the reason UTC is continuing to encourage its employees to seek lifelong learning through their Employee Scholar Program. The program enables employees to get degrees in a field they want, and UTC pays for the course. Since 1996, the employees of UTC worldwide have received 39,000 degrees via the Program.
Louis Chenevert is a native of Canada, born in a province called Quebec. He studied at HEC Montreal (the business school attached to the University of Montreal), where he received his B. Com in production management. In March 2006, Chenevert was elected the CEO and President of UTC.
In 1999, he was named as Pratt & Whitney Canada president, after working with the company for six years. Before here, he worked at General Motors for 14 years. Chenevert decided to step down as UTC’s Chief Executive Officer on Dec. 8, 2014. He served as the Vice-Chairman of The Business Council Executive Committee for the years 2011 and 2012.
He took the position of Merchant Banking Division’s Exclusive Advisor at the Goldman Sachs, where he’s going to target opportunities in the industrial sectors and aerospace and he will advise other businesses. National Building Museum awarded Chenevert with the Honor Award for the year 2009. Aviation Week, which is the United States aviation trade magazine named him as Aviation Week Person of the Year for 2011.