The untold story of Louis Chenevert ‘s revolution
Louis Chenevert is a Canadian citizen, who prides himself on a legacy of having brought a revolution in the aerospace industry. Initially, after he graduated with a Bachelor of Commerce in production management, and his experience at General Motors (production manager), it appeared like his main line of career advancement would be in production management. However, this took a complete turn when he became president of Pratt & Whitney, an aerospace company.
Initially, when he went to Pratt & Whitney, he went there just as a junior member of management. However, Louis Chenevert, being the charismatic leader, he is, made great efforts to bring the very much needed changes in the management of the company. these efforts worked well and helped the company out of an economic crisis they had previously gotten into. Naturally, Louis ascended the ranks and was later president of the company prided for being a successful aerospace manufacturer.
Pratt & Whitney was a subsidiary of the UTC (United Technologies Corporation). The decisions that Louis made as the president of Pratt & Whitney attracted a lot of attention from UTC. His charisma could not be ignored, neither would be his undivided effort. The changes he had made in management and in the financial stability of the company made him rise and get elected as chairman of UTC.
At this point, he got a platform to implement the many things he had learned from his experience in the past. Having in mind that production is the most prominent process of any company, he chose to enhance the same in UTC. Other companies in the industry outsourced cheap production (especially labor) but he moved his to the USA, making it more expensive. However, the minds were brilliant and with brainstorming, they were able to come up with products of very high quality, compared to those of other companies. Their performance improved to an extent they were able to acquire the Goodrich Corporation, previously the leading aerospace manufacturer. The shares of the company rose from a market price of $37 to $116, an indication of the success of efforts made. This is how he revolutionized the aerospace industry.