Both Louis Chenevert, the former boss of United Technologies, and Gregory Hayes, the CEO of UTC, are confident that investing in the modern technology can help a firm outshine its competitors. They praise companies that have the courage and ability to put their hard-earned money into the future. The two executives believe the role of a leader in a company is to provide strategic direction to the employees and other stakeholders.
Establishing a Legacy of Stewardship
According to United Technologies, stewardship translates to focusing on heavily investing in invention and people. Hayes aims to shape his legacy such that it demonstrates that his leadership fostered continuous growth and improvement of the firm. Hayes proves that UTC invests in its workers by citing the Employee Scholar Program that sponsors employees to pursue degrees in their preferred fields. This program has been successful because UTC’s employees have received over 39,000 degrees since 1996. UTC’s investment in educational courses of over $1 billion, especially in the U.S. seems to be bearing fruits.
Who is Louis R. Chenevert?
Louis Chenevert is a terrific investor and prominent entrepreneur hailing from Canada. He acted as the CEO and chairperson of United Technologies Corporation (UTC) as well as the boss of Pratt & Whitney Canada. The 59-year-old executive has a production management degree from HEC Montreal, which is a branch of University of Montreal’s business school.
UTC hired Chenevert as its Chairman back in March 2006. After six years of service at Pratt & Whitney Canada, Chenevert secured a high-profile post at Pratt & Whitney. Initially, he had spent more than a decade as a senior employee of General Motors. In late 2014, Chenevert relinquished his CEO post at United Technologies Corp., and director Edward Kangas succeeded him. Between 2011 and 2012, Chenevert was the vice-chair of the governing council of The Business Council. In 2015, he assumed an executive advisory post at the Goldman Sachs’ Merchant Banking Section for an unrevealed compensation. In this position, Chenevert will focus on tapping into new opportunities in the industrial and aerospace industries.