As United Technologies Corporation continues to grow, further cementing itself as one of the premier corporations in the United States, the reference to its turning point cannot be mentioned without discussing the career of the former Chief Executive Officer, Louis Chenevert. During the course of his career with United Technologies Corporation, Louis Chenevert created a blueprint for sustainable and repeatable success that Gregory Hayes, the current CEO, has continued to endorse. One of the most important practices implemented by United Technologies Corporation is its consistent investment in people, as well as technology. While investing in the latest forms of technology is instrumental in a company’s ability to stay ahead of the curve, without investing in the people who use it, it will never operate with full efficiency.
It was in 1999, while the President of Pratt & Whitney Canada, that Louis Chenevert developed an idea that would change the trajectory of the company, as well as the manufacturing industry in the United States forever. Pratt & Whitney was developing a new geared turbofan engine that Mr. Chenevert believed had enormous potential, and when he ascended to the position of Chief Executive Officer of United Technologies Corporation in 2006, he brought it with him. After two decades of research and development, and an investment that exceeds $10 billion, the unprecedented geared turbofan engine was complete. The specs of Pratt & Whitney’s geared turbofan engine set it apart from any other GTF engine due to the fact that it was able to cut fuel consumption by sixteen percent, while also reducing emissions by fifty percent. Today it is one of the most widely used geared turbofan engines in existence, being utilized by fourteen airlines and 70 aircraft across the world.
Louis Chenevert’s decision to bring along the geared turbofan engine has not only resulted in incredible gains for United Technologies Corporation, but as an affiliate of Pratt & Whitney, which has manufacturing plants throughout the United States, it has also helped to bring a number of jobs to states such as Georgia, Florida, Maine, Michigan, New York, and Connecticut. Over the next three years, United Technologies Corporation expects to create 5,000 new positions, bringing in 25,000 new employees.