Louis Chenevert is Essential to Everyone

The banquet hall was full. People who had worked in the business over the last few decades came to celebrate and honor the life of Louis Chenevert. He was the chief executive officer of United Technologies Corporation and it was only because of his hard work and his wisdom that the company is thriving today.

After enjoying the champagne and the hors d’oeuvres he returned to his corner office on the top floor and began to reflect on how the United Technologies Corporation became so successful. It is true that he was a wise chief executive officer and he knew his plan going in, but it was in the reflection that he realized just how strategic his ideas were.

The great recession nearly destroyed the United Technologies Corporation. When he was called to become CEO the stock price was tanking and falling by the second. He knew that something had to be done if this once great aerospace manufacturer was to survive.

The first thing he did was create extra income revenues that would help his company stay afloat. He worked with Pratt & Whitney to take their military contracts and worked with Otis to take over their corporate infrastructure contracts. Perhaps the most eyebrow raising was when he acquired the business Otis for a grand sum of $16 billion. Many people did not think that was a wise move during a time when businesses were struggling to stay together. However he knew that by diversifying in this way UTC would be able to not only survive, the company would be able to thrive.

The second thing he did was decrease the exuberant spending existed in the company. He saved his company $15 million a year just by transporting goods between his factories.

The third thing he did was regulate his company to abide by environmental law. This alone gave his company contracts that otherwise would have been out of reach.

Now retired from United Technologies Corporation, he works as a consultant for Goldman Sachs. He brings much to the table and is placed in the executive banking division.


Retired UTC Chairman Louis Chenevert

Canadian-born businessman Louis Chenevert received his education in Production Management at HEC Montreal, a business school that’s affiliated with the University of Montreal. After completing his studies there, and earning a Bachelor’s degree, he went on to work in management positions at several reputable companies such as Pratt and Whitney, where he was elected as President in 1999. He worked at the company for 6 years before moving on to the General Motors company, where he worked for 14 years. While there, he managed to acquire a deal with Goodrich for an estimated $17 billion.

After he joined the jet engine manufacturing company known as United Technologies Corp, or UTC, in 1993, Louis Chenevert maintained its stability during a time when the U.S. was experiencing a recession by choosing not to use outsourcing methods for the production of the company’s military and commercial planes, but to instead bring in a very skilled aeronautical team to its Connecticut-based operation so they could use their professional engineering talents where they were most needed. Because of this strategic move, the company’s yearly income increased substantially, and by 2006, the astute businessman was elected as UTC’s President and CEO.

UTC is not only a builder of advanced military planes, but it also operates the elevator and escalator company called OTIS. Since becoming the leader of the business, Louis Chenevert has been recognized by a number of organizations that honor excellence in the corporate world. One of those organizations was Aviation Weeks and Space Technology, who named him Person of the Year in 2011. He’s also received a Humanitarian Award from the FDNY Fire Commissioners, and a Pace Award for Leadership in Business Ethics, as well as a National Building Museum Honor Award.

Although Louis Chenevert is now retired from UTC, he continues to serve as a Senior Advisor for the Goldman Sachs Group’s Merchant Banking Division, where he searches for investment opportunities in the aerospace industry. Now that he has more time to enjoy pursuing his hobbies, he spends most of his time aboard his 110 ft. yacht, which has always been one of his passions.


OSI Food Solutions in Spain to Produce More Chicken

The OSI Food Solutions is an institution that was founded several decades ago. The company main headquarters were based in Aurora. The company was introduced to the consumers in the United States, and later on, it grew to offer its services to the communities in many parts of the world. When the founder of the company was starting the meat processing company, he only wanted to supply meat to the people living in Aurora. Several years later, the OSI Group local market expanded significantly, and it gave employment opportunities to hundreds of people living in the country. After realizing that customers liked the kind of products they were getting, the OSI Group chose to expand and cover the international market.

Running an international firm, especially one that deals with food products can be a very challenging affair. When Sheldon Lavin, the chief executive officer of the firm joined the company several years ago, he was only interested in ensuring that the company was in the right financial terms. The businessman had been in the finance consulting department for a while, and he had a lot of knowledge when it comes to handling large companies. The institution never knew that hiring Sheldon Lavin was one of the best things they did. Under the leadership of the businessman, the OSI Group has managed to expand so much, and it has increased the amount of products it offers its customers. Not long ago, the company started the production of chicken and other food products.

With the production of meat products, OSI Food Solutions is conquering the markets. This was evident just recently when the branch in Spain announced that they were going to double the amount of chicken produced so that they can meet the growing demands from the customers in the country. OSI Group understands that their success depends on the customer satisfaction, and this is why they have chosen to increase their chicken products. The organization food plant found in Spain has also made it clear that it will be increasing the number of employees working in the facility so that the chicken production is a success. The people living in Spain will have more reasons to smile. Apart from having great chicken products to enjoy, these people will have an opportunity to work with an international company that is doing so well. The company food plant has also been significantly increased to cater for the growing chicken production.

Learn More: branchenbuch.meinestadt.de/duisburg/company/8872003

Capital Group Company’s Board Elects New Leadership

Mr. Timothy Armour is an intelligent investor and talented executive. He is a graduate of Middlebury College, who holds a degree in economics. He became an employee of the Capital Group Companies, Inc. back in 1983. He was one of the participants of the renowned Associates Program. He committed his expertise and talents to facilitating the growth of the Capital Group, and his efforts were rewarded by earning a promotion to the position of equity investment analyst. As the Capital Group’s analyst, Armour handled international communications and service firms based in the United States. Currently, he is the chairman and equity portfolio manager of the company.

Capital Group Names Tim Armour as the Chairman

The Capital Group’s Board of Directors appointed Tim Armour as Capital Group’s chairman in 2015. Capital Group is the hub of American Funds and one of the greatest investment management companies in the world. Prior to this appointment, Armour was serving as the chairman of the management committee of Capital Group as well as Capital Research and Management Company.

Armour and other senior leaders of the company’s management committee will team up with other committee members to oversee the operations of Capital Group and formulate, communicate, and execute the firm’s business strategies. The senior members comprise of Rob Lovelace, who is the head of the Capital Research and Management Company and Capital Group’s president, Phil de Toledo. The transition mirrors a leadership succession plan, which has been in place for many years, and was implemented after Jim Rothenberg (former chairman) passed away.

Learn More: Capital Group Considers Armour as Successor to Chairman

Tim Armour’s statements

Speaking on behalf of Capital Group, Armour expressed his sorrow for the untimely demise of Jim Rothenberg. He described Mr Jim Rothenberg as a goal-driven leader, who had earned a reputation for addressing the needs of Capital’s clients, financiers, and associates by making wise decisions.

He attributed the success of Capital Group to the collective talents and experience of associates who support the firm’s mission of delivering high quality and excellent investment results to its customers and investors. Armour promised to work with other leaders in continuing Capital Group’s 85-year legacy of helping investors make smart investments.

About Capital Group

Capital Group is one of the biggest and oldest investment management firms in the world. It manages assets worth $1.39 trillion. The California-based company started its operations in 1931, and it has offices in America, Australia, Asia, and Europe. It has over 7,000 associates in various parts of the world.

Related: American Funds Flows on Track to Break Even – Executive