Do you ever wonder how the people on top made it up there? Well, through the study of some prominent people in the society, we may learn what mechanisms they use to get there. Louis Chenevert is among the recognized individuals who have surprised the world with the legacy he left in UTC. Louis Chenevert voluntarily retired in 2014.
Many questions came with his retiring. Why would he leave at a time when UTC was doing so well? It is worthwhile to note that no scandals or disagreements prompt his retirement. Chenevert wanted to have to time off from the busy cooperate world. He now has time for his family as well as attending to his interests like designing yachts.
Here are some factors that led to the success of Louis Chenevert;
Louis Chenevert is known as the king of acquisitions. When he was working at Pratt & Whitney, he observed the GTF engine and knew it had a great future. He organized the purchase of the engine immediately he became CEO of UTC.
The GTF engine is now being used in more than 70 aircraft and 14 airlines. It is preferred because it is eco-friendly and reduces the consumption of fuel.
Louis Chenevert also made history by closing the most expensive aerospace deal in the USA. He bought the Goodrich at $16 billion.
These acquisitions have significantly contributed to the prominence of UTC. It led to the firm being listed as the most profitable company in the state.
Investing in the Future Technology.
Louis Chenevert is a visionary. He led UTC to invest in the future. He argued that investing in the high innovation future technology would help avoid future economic problems in the state.
The future investments worked as Chenevert expected. The UTC is approximated to accommodate 25000 more employees and has more than 5000 new slots of innovation.
He was also concerned with the human capital. He says that one can only be successful if the team they are working with is aligned with the vision of the company. He advises other investors to focus on empowering their teams because as much as they may have great ideas, they need their team to evaluate them.