US : Louis Chenevert Nominated As The Eighth Chairman of United Technologies
Published on General news | January 7, 2010, 13:40
On January, 1, 2010 Louis Chenevert took George David’s position as he became the eighth Chairman of United Technologies.
The 67-year old George David, retired after 34 years of service with UTC, of which 14 years as Chief Executive Officer. David will remain with UTC in 2010 as consultant and adviser.
“I am deeply honored by this appointment and privileged to serve as Chairman. I look forward to building upon the tremendous success UTC enjoyed under George,” declared Chenevert. “UTC revenues have nearly tripled during his tenure as President and CEO, and total shareholder return has greatly outpaced peers and market indices. The corporation today is dramatically different than the one he joined in 1975,” Chenevert added. “The most notable changes are UTC’s global expansion, with international revenues growing from 25 percent to more than 60 percent today, and its focus on process and research disciplines.”
“Today, UTC is a high-performance organization and I am excited to have the opportunity to lead it into the future. I’m confident in UTC’s future because of our market leading businesses, unmatched portfolio of products, and strong leadership team,” he added.
Chenevert integrated in UTC’s Pratt & Whitney division in 1993, and has been t Pratt & Whitney’s President from April 1999 through March 2006. He was appointed President and Chief Operating Officer, and also Director of United Technologies since March 2006. He was nominated President and Chief Executive Officer in April 2008, and Chairman in January 2010.
