The former CEO and chairman of United Technologies Corporation (UTC) and Canadian businessman Mr. Louis R. Chenevert shocked a lot of people when he decided to resign from his position in 2014. He had been the CEO for four years, and he has been at the company for almost nineteen years. Following his resignation, the board, investors as well as analysts were left in an uncertain position given he had given very little signs to his resignation. There was also a wide speculation as to the reasons following his decision. Personal matters, as well as possible disagreements regarding the company’s strategic direction, were cited as the most probable reasons for his departure.
During his time at the helm of the company, he was seen as a visionary who oversaw bold and strategic moves that steered the UTC to the right direction. For instance, he is credited with consolidating company divisions that manufactured rocket engines, wind turbines, and fuel cells and steered the company towards the aerospace direction. He also oversaw the Goodrich Corp. acquisition. He is also credited with overseeing the company through the recession while galvanizing customer interests with the shareholders and stakeholders.
While he was still the Chief Executive Officer at UTC, Mr. Chenevert received an honor award presented to him by the National Building Museum as a salute for his visionary ideas in sustainability in 2009. In 2010, he was awarded the Pace award for his contributions in leadership in business ethics. One year later in 2011, he received an honorary doctorate awarded to him by HEC Memorial which is a business school in Montreal Canada. In the same year, Mr. Chenevert was named the person of the year by US aviation trade magazine earning him global recognition.
It is no doubt that during his years at UTC Mr. Chenevert made notable contributions that did not only earn him respect among his peers, but he is regarded as a visionary giant in his field. The many awards that he received due to his contributions in different areas are also a testimony to his notable achievements.