Louis Chenevert became the president of Pratt & Whitney in 1999 after serving for about six years in other levels within the company. He had earlier made a switch from the auto industry to the aerospace industry after spending 14 years at General Motors plant in Montreal. Under his management, P&W Louis Chenevert oversaw the company become profitable again since, by the time he was taking over as the president, it was not doing well at all. Chenevert used his experience to work on technology that would bring efficiency to the company. One of the things he did was to shorten the production time of engines from 2 years to nine months. With better efficiency, the company started making profits. At a time when the market was not doing very well, Louis Chenevert put in place measures that cushioned it from losses.
P&W is an aircraft engine manufacturer for both commercial and military planes. It is one of the leading companies globally in this field. The company has over 33,000 employees and the fact that he was given the mandate to lead the company after spending a short time in the company was approval of his accomplishments. With the good results he had produced with P&W the parent company United Technologies Corporation came looking for his services. P&W is a subsidiary of UTC.
At the time he was leaving P&W he had initiated the pan of building an advanced jet engine known as geared turbofan engine. As he transitioned to take up the role of CEO at UTC, he kept this idea in his mind. UTC would not only require him to deal with matters in the aerospace industry but even other technical products such as elevators and escalators, HVACs, and security systems.
Oracle’s profit, cloud growth forecasts drag down shares https://t.co/FfhnGGr2y8
— Louis Chenevert (@louis_chenevert) September 14, 2017
AT UTC, Louis Chenevert brought back the idea of the GTF engine. He invested $10 billion in the development of this engine which despite being criticized for its huge cost at the beginning now forms the biggest budget of the company’s revenue. The engine offers some unique advantages such as less environmental pollution and low fuel consumption. It has become one of the most sought after engines in the aerospace industry.