Report: Louis R. Chênevert, United Technologies Corporation Essay

Louis R. Chnevert was born(p) in 1958 in the Quebec province of Canada. Raised on the outskirts of Montreal, Chnevert spent his childhood and adolescent years constraining to his community. With close ties to the area, he attended the Univer tantalisey of Montreal. In 1979, he graduated with a bachelor of commerce in product counseling. Upon graduating, Chnevert was hired by the General Motors Corporation in St. Therese, a suburb of Montreal. From 1980 to 1994, Chnevert spent the distance of his primary career at General Motors. During his employment, he continually pursued challenging positions. Before resigning in 1994, he achieved the position of Production General Manager he was promoted to this position when he was just now 33 years ageing. His pursuit of attaining challenging executive management positions did not end there it was only the beginning. later resigning from General Motors, Chnevert accepted the position as Vice President of Operations at Pratt & Whitney Ca nada, a auxiliary of the United Technologies Corporation, coordinated universal time.While in Canada from 1994 to 1997, Chnevert instituted what is called lean manufacturing principles these principles immensely enhanced the plants efficiency. In turn, these principles float lined achievements and made the Canadian sister company of Pratt and Whitney a profitable business organisation. In 1995, he was accepted by Quebec with the Nouveaux Performant award for outstanding young leaders. (Bloomberg/Businessweek) As Vice President of the Canadian operation of Pratt & Whitney, Chnevert gained the respect of his gadfly peers, and gained recognition by the executive management team of UTC. From 1997 through 2006, Chnevert signifi go offtly ascended the embodied ladder. In 1997, he was appointed as the executive vice president of operations and aftermarket services for Pratt & Whitneys Connecticut operations. This appointment laid the ground work in obtaining a thorough understanding of the ve fitable marrow subsidiary business of UTC. In 1998, he was promoted to President of Pratt & Whitneys Connecticut operations.And in 2006, Chnevert continued his upwards ascent in executive management as he became Chief Operating police officer of UTC. subsequently becoming Chief Operating Officer, Chnevert was groomed to be the successor of the then latest chief executive officerand Chairman, George David. David took Chnevert as his apprentice to prove to Wall Street and investors that Chnevert had what it took to run a successful operation. (Wall Street Journal, On-Line) After devil years of grooming, George David stepped down and handed the reins of the technology conglomerate to Chnevert. The successful mentorship by George David, and quick study by Chnevert, provided a smooth transition from one CEO to an early(a). On April 9, 2008, Louis R. Chnevert was appointed Chief Executive Officer and Chairman of UTC. Since his inception, UTC has diversified their portfoli o with technology related mergers to further allow them to position themselves globally as a leader in the technology field. This diversification of UTCs portfolio has allowed UTC to weather the current sparing downturn better than many other dopes.His current yearly compensation of $1,435,000 is not plainly as much as his bonus of $1,700,000. He was rewarded with $6,217,560. in restricted stock 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 some striking about Louis R. Chneverts role as a leader is his ability to leverage his cognise from the past while listening attentively to his peers to contain solid decisive business findings. This get along allows him to make informed decisions when uncertainty is looming. He presents himself as an say-so, yet conveys this authority politically correct. His professional business etiquette portrays him as a man of distinction. Be sides having these strong leadership traits, his in-depth involvement as a philanthropist goes beyond giving exuberant donations. Chnevert becomes deeply involved in monitoring how his donations are used.His work-social life balance projects an estimable image beyond that of a typical CEO. Outwardly, he conveys a confident distinguished image with an old world style mannerism. He is a CEO for our times. He combines the distinctive traits of listening, decisiveness, and philanthropy to leverage his authority in conducting sound decisions while nurtureing a coercive outlook. He is a combination of many traits, but remains conservative in his approach to work. In such volatile scotch times that we face today, Chnevert has the leadership skills needed to successfully run this corporation while pursuing meaningful sympathetic obligations outside of the norm. Chneverts ability to leverage his experience comes from a thorough understanding of the businessbecause he started at the bot tom and worked his way up. This experience has allowed him to turn companies around during economic downturns while maintaining a affirmatory attitude and workforce. This ability to see positive in unlikely situations has endlessly found favor with fellow 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 news brings enthusiasm to their workers for developing the engines which will remain 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 uncorrupted standing when other companies are struggling. Chnevert seems to always find a way with words even when faced with downsizing to bewilder competi tive. In a recent article in Aviation Week, Chnevert exclaimed our results and diversified portfolio show Pratt is tumesce positioned to withstand the tough times we have in front of us in the next fewer 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 anesthetic politicians. In order for UTC to stay inwardly operate budgets, 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 extend the corporation profitable. His experience from the past has led Pratt back to profitability while keeping the workforce and shareholders cerebration positiv ely. Chnevert has always been known to give direction decisively in times of uncertainty.His ability to make exhausting 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 financial 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 a nd Whitney Canada, Chneverts role with investing in new technologies in Connecticut and driving the pursuit of quality faithfulness through UTCs ACE, (Achieving Competitive Excellence) operating system has allowed Pratt and Whitney to exceed their financial and quality goals all over the past couple 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 winning 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 evidence that our business representative, with its focus on global growth through market-leading franchises and cost reduction through the implementation of the ACE operating system, can deliver solid results ev en in a softening economic environment.Chneverts persistence in promoting continuous improvement is a testament 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 commitment to freehearted organizations, and investment in local and national interests goes beyond a good will gesture. He is recognize as a leader in all aspects of society. Chnevert is an advisory member to several other boards within the local community and abroad. He is an avid advocate of cancer research and is heavily involved with acquiring funding to the appropriate research 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 cancer research and give the diligent the best care possible. Dr Richard L. Edelson says, He understands the importance of having a ll the services for cancer patients in the same place, quite an than dispersed throughout the medical center. (Medicine Yale) Chnevert gets involved.He listens, and gets results. His ability to put himself in other peoples 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 varied 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. end-to-end Chneverts career, he has been called upon to make change with every organization he has ever been affiliated with. Whether business or civic, his positive can do atti tude 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 right 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 withstand the current economic downturn, but to come out of it stronger than when it began. His honorable and moral values as a business leader and philanthropist should be a model other CEOs should follow for our country to once 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. Market Watch. htt p//www.marketwatch.com/tarradiddle/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, grown 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.businessweek.com/research/stocks/people/person.asp?personId=191172&ticker=UTXUS.