During the decline of America’s manufacturing sector after the war era, one manufacturing company was able to thrive, even with the competition of foreign markets. This company was United Technologies Corporation. This company has been an American mainstay since then. In March of 2006, Louis Chenevert was elected Chairman and Chief Executive Officer of United Technologies Corporation. UTC was able to remain on top through the legacy of Chenevert as he brought together the interests of stakeholders, shareholders, and customers until stepping down from the role in 2014.
Based in Hartford, Connecticut, UTC is responsible for the sophisticated engines all around the world, and are the largest manufactures of elevators and escalators. With both commercial and military clients, they are the leading helicopter manufacturer in the United States. Chenevert was at the realm of the company when the revenues rose to unbelievable heights. Shares went from $37 to $117, which represented a 200 percent increase in shareholder value. One aspect of the success of UTC was the fact that Chenevert did not participate in the outsourcing of products, which was very unpopular at the time. In an effort to achieve this, Chenevert moved many aerospace engineers from a low cost community back to the home base of Conn. in order to have more room for skill application in respect to commercial and military contracts. Louise Chenevert is a very strong thinker who was comfortable with the complexities of running a world wide business.