Louis Chenevert truly took the United Technologies Corporation to the next level. It is hard to say exactly which skill of his made it happen but we are led to believe that it occurred because of his ability to create synergy through his innate skills. He did not focus his time on internal politics but instead invested his time in making sure the agenda was being completed. He delegated power and made sure each operational executive had the authority necessary to carry out their job. He had relentless follow-up in his focus and made sure that every project was done to his satisfaction.
Underneath his leadership, great things happened at United Technologies Corporation. The Sikorsky unit produced helicopters for the United States of America military at a rate twice as fast as the nearest competitor. On top of that, they became the highest producer of American military aircraft.
They continued to solidify their position with the United States government by focusing on research and development. He would go on to say that the most important thing for his company was not only producing products in the thirty-year cycle but also focusing on research and innovation. This led to the GTF engine development. This engine burns fuel more efficiently, produces less noise, and has a longer lifespan than its nearest rival. It was outfitted in the Bombardier C-Series and placed in the Airbus A320.
The United Technologies Corporation was also followed his leadership and take away the monopoly that Rolls-Royce had in the business sector. This was largely done by acquiring Goodrich. At the time that $18 billion investment was the largest acquisition ever recorded.
As the chief executive officer, Chenevert was able to more than triple the stock price and raise the value of the company to $63 billion. Working so he efficiently it is no wonder that his compensation package was $22,032,175.
He would step down for United Technologies Corporation 2014 and retire as a consultant with Goldman Sachs. His compensation package with them is undisclosed at this time but we can be sure it is a handsome sum.