One of the factors directly related to this astounding success is Louis’ investment, not only in state of the art technologies, but people as well. He understands that the people working for a company play a major make-or-break role in the success of the company. He is often quoted as saying that investing in the right tech can take a company far; and investing in the right people can take it even farther.
Investing in the right technology is what encouraged Chenevert to undertake the Goodrich Acquisition (worth over $18 billion), as well as an offer to manufacture engines for the Air Force; even though prestigious companies such as Rolls-Royce and General Electric both declined. This isn’t United Technologies Corporation’s first foray into the avionics industry however. Their Sikorsky unit manufactures more helicopters than any other company in the United States, and some of the most advanced jet engines on the planet are assembled by UTC.
In 2009, Louis Chenevert was the recipient of the Honor Award from the National Building Museum. In May of 2001 he received an honorary doctorate from HEC Montreal, his alma mater, and the US aviation trade magazine “Aviation Week & Space Technology” named him its Person of the Year in 2011.
This is the legacy Louis Chenevert left to his successor Gregory Hayes upon his resignation from CEO in December 2014. He left behind a perpetually sustainable legacy of success-driven goal-setting; and a continued outlook to the future of technology. It is all thanks to Chenevert that UTC will dominate the market for years to come.