Report: Louis R. Chênevert, United Technologies Corporation Essay

Louis R. Chnevert was born in 1958 in the Quebec province of Canada. raised on the outskirts of Montreal, Chnevert spent his childhood and adolescent years tightly fitting to his community. With close ties to the area, he att send awayed the Univer drivey of Montreal. In 1979, he graduated with a bach of commerce in product care. Upon graduating, Chnevert was hired by the General Motors stomach in St. Therese, a suburb of Montreal. From 1980 to 1994, Chnevert spent the duration of his primary life at General Motors. During his employment, he continu each(prenominal)y pursued challenge positions. in the beginning resigning in 1994, he achieved the position of Production General Manager he was promoted to this position when he was lonesome(prenominal) 33 years old. His interestingness of attaining challenging executive worry positions did not end there it was solely the beginning. subsequently resigning from General Motors, Chnevert accepted the position as Vice prexy of o perations at Pratt & Whitney Canada, a subsidiary of the United Technologies Corporation, coordinated universal time.While in Canada from 1994 to 1997, Chnevert instituted what is cal guide carry manufacturing principles these principles immensely enhanced the plants efficiency. In turn, these principles stream persevere along operations and make the Canadian sister company of Pratt and Whitney a profitable business. In 1995, he was recognise by Quebec with the Nouveaux Performant award for outstanding newborn draws. (Bloomberg/Businessweek) As Vice President of the Canadian operation of Pratt & Whitney, Chnevert gained the respect of his oath peers, and gained recognition by the executive management team of UTC. From 1997 through 2006, Chnevert significantly ascended the corporate ladder. In 1997, he was appointed as the executive viciousness president of operations and aftermarket services for Pratt & Whitneys computed axial tomography operations. This appointment posit ion the ground work in obtaining a consummate(a) understanding of the amount of money subsidiary business of UTC. In 1998, he was promoted to President of Pratt & Whitneys Connecticut operations.And in 2006, Chnevert continued his upward ascent in executive management as he became Chief Operating Officer of UTC. After meet Chief Operating Officer, Chnevert was groomed to be the successor of the then genuine chief executive officerand Chairman, George David. David took Chnevert as his apprentice to prove to Wall avenue and investors that Chnevert had what it took to run a successful operation. (Wall Street Journal, On-Line) After two years of grooming, George David stepped heap and handed the reins of the technology conglomerate to Chnevert. The successful mentorship by George David, and quick line of business by Chnevert, provided a smooth transition from one CEO to an separate. On April 9, 2008, Louis R. Chnevert was appointed Chief Executive Officer and Chairman of UTC. Si nce his inception, UTC has alter their portfolio with technology related mergers to further al humble them to position themselves globally as a leader in the technology field. This diversification of UTCs portfolio has allowed UTC to weather the current sparingal downturn better than some(prenominal) other potbellys.His current yearly compensation of $1,435,000 is not merely as much as his bonus of $1,700,000. He was rewarded with $6,217,560. in restricted have a bun in the oven awards, and $11,149,152 in other compensation. His total compensation for 2009 ranked him 41st in CEO payout. (Forbes.com, CEO Compensation) What I find most striking somewhat Louis R. Chneverts fictitious character as a leader is his mightiness to supplement his determine from the past while listening attentively to his peers to make consentient decisive business purposes. This approach allows him to make informed decisions when scruple is looming. He presents himself as an authority, yet conv eys this authority politically correct. His professional business etiquette portrays him as a man of distinction. Besides having these strong leadership traits, his in-depth involvement as a philanthropist goes beyond giving exuberant donations. Chnevert becomes deeply intricate in monitoring how his donations are used.His work-social life balance projects an admirable kitchen stove beyond that of a typical CEO. Outwardly, he conveys a confident howling(a) image with an old world style mannerism. He is a CEO for our propagation. He combines the distinctive traits of listening, decisiveness, and philanthropy to leverage his authority in conducting laboured decisions while keeping a positivist outlook. He is a combining of many traits, but remains conservative in his approach to work. In such volatile economic times that we face today, Chnevert has the leadership skills take to successfully run this corporation while pursuing meaningful good-hearted obligations outside of the norm. Chneverts magnate to leverage his experience comes from a thorough understanding of the businessbecause he started at the bottom and worked his way up. This experience has allowed him to turn companies around during economic downturns while maintaining a positive place and workforce. This ability to see positive in unlikely situations has constantly make favor with familiar spirit workers and shareholders.Bloomberg News recently interviewed Chnevert who made the remark that Bombardier has a full pipeline of potential C-Series customers and expects order announcements by year-end. (Bloomberg 09-01-10) Pratt and Whitney has been on the losing end of its share of commercial customers, but this intelligence activity brings enthusiasm to their workers for developing the engines which provide keep Pratt and Whitney in the commercial jet engine business. Not only has this re-invigorated the workforce in these unprecedented economic times, but it has kept UTCs stock price in go od standing when other companies are struggling. Chnevert seems to always find a way with words redden when faced with downsizing to stay competitive. In a recent oblige in Aviation Week, Chnevert exclaimed our results and diversified portfolio show Pratt is well positioned to harbor the tough times we have in front of us in the next few months. Its a good position to be in. (Aviation Week, Morris)However, Chneverts restructuring efforts for increased profitability has not always been favorable with fellow workers or local politicians. In order for UTC to stay at heart run bud countenances, he was tasked with slashing thousands of jobs in Connecticut. While facing uncertainty in the current economic recession, the decision to downsize further was a decision he had to make immediatelyand he did. This decision did not sit well with the Connecticut legislature either, but as Chnevert explained, difficult times meant making difficult decisions to keep the corporation profitable. Hi s experience from the past has led Pratt back to profitability while keeping the workforce and shareholders thinking positively. Chnevert has always been k this instantn to give direction decisively in times of uncertainty.His ability to make hard decisions has proven his leadership ability. In difficult economic times, Chnevert was able to make the tough decisions immediately to keep UTC in a positive profit margin. Tough choices need to be made and Chnevert is no stranger to that. From his beginnings with UTC, Chnevert has had to make tough choices regarding employee restructuring. When he became Vice President of operations in 1993 at Pratt and Whitney Canada, he faced poor pecuniary performance with lowemployee morale. His decision to restructure with changes in key management positions allowed Pratt Canada to rebound from a negatively performing business unit with low employee morale. This restructuring event led to positive financial results with higher than expected employee morale. Pratt and Whitney Canada is now considered one of the best Pratt facilities to work at.Besides restructuring at Pratt and Whitney Canada, Chneverts role with investing in new technologies in Connecticut and driving the pursuit of quality excellence through UTCs ACE, (Achieving Competitive Excellence) operating system has allowed Pratt and Whitney to exceed their financial and quality goals over the past partner off of years. His focus on continued implementation and promotion of this system at a time of turmoil may have seemed to be risky, however, the results of doing so have been rewarding. Chnevert understands competitiveness cannot be achieved without taking risks, and he understands inaction only leads to poor performance. From an online April 2008 Wall Street journal article titled, UTC, Textron profits get a lift from aerospace, Chnevert boasts this quarters results are further establish that our business model, with its focus on global growth through market-leadin g franchises and greet reduction through the implementation of the ACE operating system, can bring back solid results even in a softening economic environment.Chneverts persistence in promoting continuous improvement is a volition to his ability to make difficult decisions in times of uncertainty. This approach to making informed decisions decisively shows his focus towards success. Furthermore, Chneverts dedication to society through his load to charitable organizations, and investment in local and national interests goes beyond a good will gesture. He is recognized as a leader in all aspects of society. Chnevert is an advisory member to several other boards in spite of appearance the local community and abroad. He is an avid advocate of cancer question and is heavily tough with getting funding to the appropriate query programs and projects. In a Yale Medical Publication, Chnevert is recognized as not only a contributor, but a man who asks probing questions to further cance r research and give the patient the best care possible. Dr Richard L. Edelson says, He understands the importance of having all the services for cancer patients in the same place, rather than dispersed throughout the medical center. (Medicine Yale) Chnevert gets involved.He listens, and gets results. His ability to put himself in other plentys places allows him to make great decisions regarding any endeavor he gets involved with. His dedication to the well being of local organizations is yet another testament to his leadership ability. There are skilled CEOs with exceptional experience, and there are also skilled CEOs with minimal experience. Very few have the vary traits and experience to perform at exceptional levels. Chnevert has both these traits plus a new world ideology that allows him to operate in the toughest of economic times. I consider Chnevert more than a business leader he is multi faceted dynamic entrepreneur.Throughout Chneverts career, he has been called upon to make change with all(prenominal) organization he has ever been affiliated with. Whether business or civic, his positive can do attitude has been a guiding light for his corporation and others to follow. He will lead UTC, and all organizations he is involved with to a new level of prosperity and good will. His ambition towards getting things estimable is no less than remarkable. Although new to the CEO position, Chnevert will be recognized for his persistence of pursuing to understand, and executing decisively for results. In these unprecedented economic times, Chnevert has the experience a corporation needs to not only support the current economic downturn, but to come out of it stronger than when it began. His ethical and moral values as a business leader and philanthropist should be a model other CEOs should follow for our country to once over again lead in economic prosperity.Works CitedCEO Compensation. 41 Louis R. Chnevert. 04-28-10. 600 pm edt. Forbes.com. http//www.forbes .com/lists/2010/12/boss-10_Louis-R-Chenevert_FTA5.htmlHinton, Christopher. UTC, Textron profits get a lift from aerospace. grocery store Watch. http//www.marketwatch.com/story/united-technologies-textron-profits-gets-lift-from-aeropace.html. April 17, 2008.Layne, Richard. Bombardier Posts Quarterly Earnings of 8 Cents a Share,Matching Estimates. http//www.bloomberg.com/news/2010-09-01/bombardier-net-drops-27-percent-as-jet-deliveries-decline.html. Sept 1, 2010.Lunsford, Lynn. Prepping a Successor to UTCs David. Wall Street Journal Online. http//online.wsj.com/article/SB120768855981199187.html. April 9, 2008.Morris, John. Louis Chenevert, President & CEO, Pratt & Whitney. Aviation Week. http//www.aviationweek.com/shownews/02asial/newsmk10.htm.Medicine Yale. Quick Study, self-aggrandising contributor. Vol 4. Issue 4. Sept/Oct 2008. http//www.medicineatyale.org/v4i4_sept_oct_2008/sept_oct_08.pdf.United Technologies Corp. UTXNew York. Bloomberg Business Week. http//investing.business week.com/research/stocks/ hatful/person.asp?personId=191172&ticker=UTXUS.