Latest technology investments by a company give it a competitive edge in the modern business sector. With this regard, Louis Chenevert, who was the former CEO of UTC together with the current CEO Gregory Hayes have a strong belief in it. They exercise stewardship as an obligation of their roles as leaders. They run business that focuses on the future and invests in the most advanced technology.
To their company stewardship implies investments in innovative procedures as well as in people. Hayes wants to build his legacy by making improvements to make the company better than it was. He believes in the theory that it is the people who make innovations and not the company. Hayes cites the employee scholar program that pays for the workers the bill to take them through their degree of choice as a way to illustrate UTC’s philosophy.
United Technologies invested in the development of the GFT engine by Pratt and Whitney. It cost the $10 billion and a period of more than 20 years according to Chenevert. Chenevert, upon joining the UTC Pratt and Whitney engine business, he brought out ways to generate profit to the company through market shares. He led the company to greater achievements as the CEO in the year 2006 when the American economy was dwindling. The company even surpassed the once powerful industries such as Bethlehem Steel, RCA, and Zenith.
UTC assembles one of the most advanced jet engines in the world under Chenevert’s leadership. Moreover, it dominates in the heating and refrigeration and air conditioning and builds helicopters more than any other company in the U.S. The range of equipment produced by the aerospace unit include brakes and actuators, sensors, flight controls, landing gears among others
GFT engine technology comes with more improvements and a huge breakthrough as it is 16 percent more efficient in fuel consumption than the existing engines. It moreover produces 75 percent less noise than current engines and produces 50 percent less emission.
Chenevert presented big accomplishments as the CEO of the United Technologies Corporation and as the general production manager of the General Motors, St. Therese operation. Of French Canadian origin, Louis attained his bachelor of commerce in University de Montréal where he majored in production management.