Louis Chenevert dedicated his entire life to being a productive businessman. He was born and raised in Montréal, Québec and he knew of the prestigious University of Montréal and its business affiliate program. He would gain a bachelors of production management from the HEC Montréal school of business.
His professors would pull some strings and would get him a job working as the Pontiac production general manager. He would stay with General Motors for 14 years before he was hired as the vice president of Pratt & Whitney.
His skills in business became evident at Pratt & Whitney and when their president step down in 1999 he was offered the role to lead the company. After working there for seven years he was picked up by the juggernaut the United Technologies Corporation.
The United Technologies Corporation was the world’s largest aerospace manufacturer. They were known for their high quality jet engines, sensors, aerospace systems, and flight controls. Their highest clients were the military in the United States of America as well is commercial airlines both in the United States and abroad.
He was able to command the compensation package from United Technologies Corporation upwards of $23 million. $1.3 million was his base salary but he was given a cash bonus of $4.3 million every year. Here’s granted stock options up to $11 million and given other company benefits around $4.3 million.
A worthwhile, quick watch on maintaining momentum with innovation: https://t.co/t0aA5Z7TVu
— Louis Chenevert (@louis_chenevert) October 16, 2017
He was able to command such a package because he was able to get this net worth of the company to $63 billion. Forbes.com reports that this is a hard thing to do in the state of Connecticut. However, even running the business in Connecticut he was still able to outpace the Dow Jones industrial and the S&P 500 when it came to generating shareholder returns.
The United Technologies Corporation has faithfully paid its dividends for over seven decades has increased the dividend payments year-by-year.
Since stepping down from United Technologies Corporation he became the vice chairman of the executive committee for the business councils in 2011 and 2012. He works asa consultant at Goldman Sachs for retirement.