What Walmart stores are to mom-and-pop shops, the United Technologies Corporation is to every other company in the aerospace manufacturing business. They are the dominant giant and many companies fear coming up against them. They control the vast majority of the market share and the only reason why other companies are still able to compete is that the United Technologies Corporation cannot acquire them or else it will be accused of becoming a monopoly.
While the strength of United Technologies Corporation is well documented now, there was a time when the company was so weak not too long ago that business analysts thought it would close its doors. The great recession of 2006 to 2011 severely weaken the aerospace manufacturing industry and the United Technologies Corporation in particular.
As they saw dwindling stock prices and executives leaving for more prominent businesses the United Technologies Corporation knew the writings on the wall. They put a phone call into Louis Chenevert and asked Louis Chenevert to come to the United Technologies Corporation and run as the chief executive officer.
Louis Chenevert knew that United Technologies Corporation could get through this recession as long as the Their wits about them. The first goal was to stabilize the company. He did this by managing the current costs the company was spending to create their product. In other words, he wanted to decrease internal spending. This was accomplished by adhering to environmental regulations, which save them $150 million over three years span, and transporting their own goods to their factories, which save them an additional $95 million over five years span.
Louis Chenevert would be crowned as the greatest chief executive officer of United Technologies Corporation ever seen. His hard work and determination cause the stock price of United Technologies Corporation to rise $37 a share all the way to a grand total of $117 a share. Not only was he able to accomplish that, but I several key acquisitions he was able to increase the net worth of the company to a total of $63 billion. He is now a consultant at Goldman Sachs.