Born in Canada, Louis Chenevert has built an enviable career in the aerospace industries. He’s worked on both sides of the border. Educated at the Business School at the Université de Montréal, he specialized in production management. Chenevert was primed from an early age to achieve success.
Louis Chenevert began his professional career in the automotive industry, for General Motors Canada. During his tenure at General Motors, he demonstrated a real knack for increasing production. He quickly found himself promoted to the position of Production Manager. He also learned a great deal that would take him even farther.
He made the leap to the aerospace industry in 1993. Pratt & Whitney Canada needed a change. They were struggling during a time of rapid economic change. Structural changes due to technology, and the effects of new global trade agreements, were having an unwelcome impact on their bottom line.
With Chenevert’s unique insight, however, they were able to make changes to some of their processes, and course-correct effectively. Soon, they were more efficient. Pratt & Whitney Canada’s share of the Canadian market was increasing noticeably.
Once again, Louis Chenevert found himself rising through the ranks. In 1999, after six years of service, he was elected President of Pratt & Whitney Canada. He was garnering lots of positive attention from parent company UTC. In 2006, he became CEO.
UTC was lucky to have Chenevert at the helm during the Great Recession. Where some corporations would have moved production overseas to save money, Chenevert took the long view. Offshoring would affect quality, and he believed that in the long run, this was the most important issue. Under his leadership, the stock price actually increased.
In 2011, Chenevert had his proudest moment as CEO, when UTC acquired Goodrich. This transaction required a great deal of tact and negotiating ability. Louis Chenevert carried it all off with aplomb. Today, Chenevert is semi-retired. Though he works as an Exclusive Advisor to Goldman Sachs, he now has time to enjoy the fruits of his success with his family and friends.