Louis Chenevert Drives Improvements at United Technologies Corporation

Louis Chenevert is one of the foremost business leaders in Canada. He has had a successful career working at various companies. He is the current CEO of United Technologies Corporation. During his time as CEO, Louis Chenevert has made numerous changes to the company.

Louis Chenevert took over as CEO several years ago. When he took over the company, sales were declining and many areas of the company needed to improve drastically. Louis Chenevert decided to focus on several areas to immediately improve. Not only did Louis Chenevert improve employee morale, but he also decided to increase the research and development budget drastically.

Employee Morale

One of the most significant costs of operating a business is employee turnover. Few business owners pay attention to employee turnover. Losing quality employees can cost a business in several ways. Not only does it cost money to replace an employee who left, but it also reduces productivity at the company.

Louis Chenevert implemented several policy changes to make employees more productive. He decided that employees could have unlimited vacation days. He also said that employees could be flexible about the times when they arrived or left the company. These changes helped employees feel more relaxed and excited about working.

Financial Changes

Louis Chenevert is an expert in financial planning at large companies. Some people do not realize how many decisions have to be made each day by prominent business leaders.

Louis Chenevert decided to decrease the total debt of the company. He wanted to increase cash flow and reduce the overall financial risk of the company. At one time, United Technologies Corporation had more debt than other companies in the industry. The company now has a strong balance sheet with record levels of cash to invest in the future. Louis Chenevert should be proud of the work that he has accomplished at the company.

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