According to many CEOs, the most difficult part of the job is determining how you want your legacy to be remembered. However, an effective CEO is the one who understands that he/she is the steward of the company. In that case, he/she must leave the company in a better state than the way it was. This means that the CEO must show commitment for future growth.
At the United Technologies Corporation, or UTC, the top management believes in investing in innovation
and people. According to United Technologies Corporation, the CEO cannot ignore the demands of the company because he/she is holding an office for a short term. The CEO must comply with the demands because the company depends on his/her service delivery for future growth. In that case, investing in the future always start with the person who is currently holding the big office. For example, Pratt & Whitney Company invested in the production of a Geared Turbofan Engine more than twenty years ago. The amount invested in the design of the engine was $10 billion. The jet engine is currently changing the industry of aerospace. It can reduce emission by 50%, fuel burn by 16%, and the footprint of noise by 75%. The engine was introduced in the market last year, and it is currently used by 14 airlines in more than 72 aircraft
About Louis Chenevert
Mr. Louis Chenevert
is a businessman from Canada. He previously worked
as the CEO and Chairman of UTC (United Technologies Corporation). Louis also served as the President of Pratt & Whitney Company. Louis Chenevert was brought up in Quebec and attended the University of Montreal, from where he received his Bachelor Degree in Production Management. After completing his studies, Louis started his career journey with General Motors, a company where he gained 14 years of experience in production management.
Louis joined Pratt & Whitney Company in 1993 as a production manager. He held the position for six years before he was appointed as the company’s president in 1999. He left Pratt & Whitney in 2006 to become the CEO and President of United Technologies Corporation
. Mr. Louis also worked for The Canadian Business Council as the Executive Committee and Vice-Chairman for one year. This was from 2011 to 2012.
In 2009, Louis was honored by National Building Museum with the Honor Award. He was also awarded a doctorate honoris by HEC Montréal in 2011.
See Mr. Chenevert speak here: