Category Archives: Innovation

Louis Chenevert: the Change Agent

Gregory Hayes says that he believes that CEOs are most effective when they understand that they are stewards in their companies and they ought to leave them better than they found them. As Gregory Hayes leads the United Technologies Company, he knows that he can only achieve the above objective by committing to continue being innovative and investing in the corporate employees. He says that the best asset that the organization has is its workers. Therefore, for the company to remain competitive, the management must invest heavily in the workers in terms of development and improvement. The management must equally ensure that the workers are offered a good working environment that keeps the turnover rate at almost nil.
Gregory Hayes says that as much as CEOs must focus on the long-term goals, they must also have their eyes on the long term goal as the decision made today determine the future direction of the firm. At UTC the management understands that the future of the company lies in the decisions that are made today. Case in point, the Turboffan engine that is Pratt and Whitney geared was an investment that will last more than 20 years. It took $10 billion to design it as it will change the industry. Albeit expensive, the engine will transform the industry by reducing the emission by 50% and fuel burn by 16%. Moreover, the technology will reduce the noise footprint by 75%. Although it only entered the market last year, the engine is employed by 72 aircraft and 14 airlines. Gregory Hayes says that when the company invests in such investments it directly supports the U.S economy as well as the manufacturing jobs.
Louis Chenevert
Louis Chenevert is a businessman who is based in Canada. He was formerly the President of Pratt and Whitney Canada, as well as the Chairman and CEO of United Technologies Corporation. Louis was born in Quebec where he held his elementary studies. Later he joined HEC Montreal Business School from where he graduated with a Bachelor of Commerce in production management.
Louis Chenevert spent the better part of his career working at General Motors before being elected President of Pratt and Whitney Company in 2006 after being in lower posts in the company for 6 years.
Watch Louis speak here: