Louis Chenevert clearly did a phenomenal job during his time at United Technologies Corporation as the chief executive officer. In 2009 he was granted a prestigious award by the National Building Museum. He was also given an honorary doctorate by his alma mater which was the HEC Montréal. He was named “Person of the Year” by two separate magazines. These magazines were Space Technology as well as Aviation Week. What exactly made him such a well-known businessman that was highly credentialed?
He earned the respect of the business world because of his successful run as the chief executive officer at United Technologies Corporation. Some of his achievements there are as follows. He was able to acquire three of the biggest companies to diversify the portfolio area of the first company he acquired was Pratt & Whitney. The second company he acquired was the longest running elevation company Otis. Lastly, he was able to acquire Goodrich for $16.3 billion. This would end up raising the stock prices from $37 a share two $117 a share. On top of this, the value of the business with skyrocket to $63 billion.
Forbes magazine is reporting that United Technologies Corporation has outpaced some of the most prestigious companies in the world. It was able to generate shareholder returns that were 100 times greater than any other business on the Dow Jones industrial or the S&P 500. This increase in net worth allowed them to increase the dividend payments which they have not missed in 77 years.
He was able to make United Technologies Corporation more conscious of the environment. He lowered the gas emissions by 26% and even got the products to consume 53% less water. This made him an ally to the environmental movement and acting as a liaison to Congress, he began encouraging other companies to follow suit.
He gave United Technologies Corporation military contracts the United States government and led the Sikorsky unit to produce high-quality helicopters. These decade-long contracts gave United Technologies Corporation consistent income so they could go into more risky ventures and make more money which they have done.