Honorary doctorate degrees are not handed out freely. They are a unique honor reserved for individuals who have accomplished much in their life. With that criteria, it’s not surprising that leading businessman Louis R Chenevert has two. His first was awarded in 2011 from HEC Montreal and his second was awarded in 2014 from Concordia University. His Formal education also began at HEC Montreal where he earned a Bachelor’s degree in business administration. After graduation, he took his skills to General Electric where he perfected them and rose to the position of general production manager. However, Louis Chenevert was interested in furthering his career and putting his skills to more use. So after 14 years of service, he moved on to Pratt and Whitney Canada where he was named the president of the company by 1999. Read more about Louis Chenevert at Affiliate Dork. However, the position didn’t provide enough of a challenge for Chenevert so in 2006 he moved on to United Technologies Corporation. There he was assigned as the President, Chief Operating Officer, and Director. Read more about Louis Chenevert at wingsjournal.com.
If a test of his business acumen was what Chenevert wanted, he found that during his time at UTC. When he was placed in charge of the company stock prices were $37 a share and the country was going through a crippling recession. Many companies were focused on their struggle to survive the storm and could not fathom striding for growth during this time. However, Chenevert was not interested in being an average CEO of an average company. He chose to look for the opportunity amid all the distress and believed that growth was possible even during the most financially strenuous of times. The methods Chenevert employed were not traditional but they were effective in growing UTC. During his time running the company, he turned the small initial buy-in of $37 to $117 for his investors. This growth of around 200% was not only impressive for its monetary value but the methods Chenevert took to achieve them speak to his out of the box thought process. Chenevert accomplished growing his company during a recession by restructuring production to be more efficient, not moving it overseas or to cheaper operating areas.