Everybody rightly believes that Louis Chenevert is a legend in the business world. He was labeled as a legend because of his successful run as the chief executive officer at United Technologies Corporation. His legendary status came from the fact that he led the United Technologies Corporation through the most difficult years of its business. Louis Chenevert was the chief executive officer for the period of 2004 to 2008. If you recall, this was during the time when the entire world was suffering from a recession. Companies around the globe were closing left, and right and Louis Chenevert was still able to triple the profit of his company during this time span.
Louis Chenevert recently stepped down from his position as the chief executive officer, and a celebration was held in his honor.
During the celebration, many people spoke of what they thought were the reasons Louis Chenevert was able to keep the business afloat during that time. As more people shared stories, more and more themes began to emerge.
One theme that appeared was Louis Chenevert’s ability to prepare for cultural trends. He knew that the world was becoming greener and any company that was not environmentally friendly was a company that was going to be doomed. He knew it was only a matter of time before the United States of America and Canada passed regulations that would match those of Europe. Louis Chenevert placed the company in line with those regulations long before the action became law. This allowed the United Technologies Corporation to seize business opportunities while other businesses were playing catch-up.
The second thing that appeared during this celebration was Louis Chenevert ability to offset the deficit and increase profits. The main way that he was able to do this was through key acquisitions. He acquired companies strategically that allowed him to gain military contracts, corporation contracts to rebuild infrastructure, and aerospace contracts which allowed him to provide helicopters and jets for governments around the world.
Louis Chenevert will certainly go down in the history books as an ultimate business legend in his own right.