Louis R. Chênevert

Louis R. Chênevert is a Canadian businessman. He served as the Chairman and Chief Executive Officer of United Technologies Corporation[5] and was also President of Pratt & Whitney.

Louis R. Chênevert
Born	1958 (age 62–63) Canada
Alma mater	Université de Montréal
Occupation	Chief executive officer of UTC (Retired)
Predecessor	George David
Successor	Gregory J. Hayes
Spouse(s)	Debra Chênevert[1]
Awards	2060 FDNY Fire Commissioner’s Humanitarian Award[2] 2010 Pace Award for Leadership in Business Ethics[3] 2009 Honor Award[4]

Early life and education

Chênevert was born in Montreal, Quebec. He earned a bachelor of business administration degree in production management from HEC Montréal, an affiliated Business School of University of Montreal, in 1979. In May 2011, Chênevert received a doctorate honoris causa from HEC Montréal.[6] He was awarded a doctorate honoris causa from Concordia University in 2014.[7]

Career

Chênevert worked for General Motors for 14 years where he became general production manager before joining Pratt & Whitney Canada in 1993.[8] He was named vice-president of operations and later president of Pratt & Whitney in 1999.[6] In March 2006, he joined United Technologies Corporation and became chief operating officer, president, and director.[9] In 2008, he was named CEO.[10] Chênevert became chairman of the board in January 2010.[6]

In June 2011, Chênevert joined the board of Cargill Inc.[11] Chênevert previously served as vice-chairman of the executive committee of The Business Council in 2011 and 2012.[12] In 2013, he received the United Service Organization's (USO) Distinguished Service Award.[13]

On December 8, 2014 Chênevert "abruptly resigned"[14] as CEO of United Technologies Corp. and was replaced by director Edward Kangas,[8][15] until Gregory Hayes acquired the post in November 2014.[14]

Chênevert was voted co-chairman on the Congressional Medal of Honor Foundation Board of Directors in March 2015 after serving on the board since 2008.[16] In September 2015, he took up the role of an Exclusive Advisor in the Merchant Banking Division at Goldman Sachs for an undisclosed compensation; where he will be targeting opportunities in the aerospace and industrial sectors and advise other businesses.[17][18][19][20]

Chênevert is a founding member and director of the United States Friends of HEC Montréal Foundation and chairs the HEC Montréal International Advisory Board.[6] He is also chairman of the Yale Cancer Center Advisory Board.[7]

Personal life

While CEO of United Technologies Corporation in 2008, Chênevert earned a total compensation of $22,032,175, which included a base salary of $1,318,974, a cash bonus of $4,294,844, stock granted of $4,376,921, options granted of $11,774,710, and other compensation of $266,726.[21]

In 2005, Chênevert was inducted as a Fellow of the American Institute of Aeronautics and Astronautics (AIAA).[22]

He is the 2009 recipient of the Honor Award from the National Building Museum.

U.S. aviation trade magazine Aviation Week & Space Technology named Chênevert its Person of the Year 2011.[23][24]

References

1. "Louis Chênevert" (Press release). NNDB. Retrieved 2008-04-10.
2. UTC. "Louis R. Chênevert Acceptance Remarks at 2010 FDNY Foundation Dinner for Fire Commissioner's Humanitarian Award".
3. "United Technologies Corp. and CEO Louis Chenevert Win ERC's 2010 Pace Award for Leadership in Business Ethics" (Press release). Ethics Resource Center.
4. "A Salute to Visionaries of Sustainability". National Building Museum. Archived from the original on 2011-03-05.
5. "Louis Chênevert". UTC. Archived from the original on 2011-06-28. Retrieved 2011-02-04.
6. "Louis R. Chênevert and C. R. Hinings Awarded Honorary PHDs". HEC Montreal. 26 May 2011.
7. "Honorary degree citation – Louis R. Chênevert". Concordia University Montréal. June 2014.
8. "United Technologies CEO Louis Chenevert Retires". Fox Business. 24 November 2014.
9. "United Technologies Corp" (PDF). SEC. 8 February 2007.
10. "How United Technologies Became a Top Gun". Fortune. 2 June 2014.
11. "UTC's Chenevert joins Cargill board". Hartford Business. 14 June 2011.
12. The Business Council, Official website, Executive Committee Archived 2013-07-21 at the Wayback Machine
13. "United Technologies Support of U.S. Armed Forces and Military Families Recognized by USO". United Technologies. 17 December 2013.
14. SINGER, STEPHEN (4 March 2016). "UTC Chief Greg Hayes Received $10.8M In Compensation Last Year". courant.com. Retrieved 28 June 2019.
15. Clough, Richard. "United Technologies CEO Left Amid Director Concern on Priorities". Bloomberg. Retrieved 8 December 2014.
16. "Congressional Medal Of Honor Foundation Announces Election Results". PR Newswire. 27 March 2015.
19. "Goldman Hires Former United Technologies CEO as Aerospace Adviser". The Wall Street Journal. 8 September 2015.
20. "Louis Chênevert, Former UTC Chief, Retained By Goldman Sachs". Hartford Courant. 9 September 2015.
21. 2008 CEO Compensation for Louis R. Chênevert Archived 2009-11-01 at the Wayback Machine, Equilar.com
22. "Notice & Proxy Statements, United Technologies Corporation". sec.gov. 2010. Retrieved 2020-01-02.
23. AW & ST, 14 January 2013 issue, p. 47
24. "AIAA Congratulates Louis Chenevert On Being Named Aviation Week Person of the Year". The American Institute of Aeronautics and Astronautics.