Why Louis Chenevert’s Indelible Contributions Established a Legacy at UTC

Louis Chenevert is undoubtedly an accomplished entrepreneur. His towering 6’5’’ stature is symbolic of his unrivaled accomplishments spanning across years of sheer hard work as CEO of United Technologies Corporation (UTC) and a general manager at General Motors. The French-Canadian native is an alumnus of the Universite` de Montreal with a Bachelor’s degree in production management.

Chenevert’s Meteoric Rise in UTC

Having gained over a decade in experience at General Motors, Chenevert deemed it necessary to advance in his career by working at Pratt & Whitney, which is an affiliate of United Technologies Corporation. After exuding unwavering dedication and commitment for the next six years, the board’s management opted to elect Chenevert as its President in 1999, a position he successfully held for seven years before taking over the CEO’s position at UTC.

While at the helm, Chenevert is credited with attaining stellar achievements to the $100 billion conglomerate. In essence, it took Chenevert a single year to achieve what most corporate executives take years to do. A case in point is UTC’s acquisition of Goodrich courtesy of Chenevert’s insightful leadership and keen business acumen. More impressive was the CEO’s influence and expertise in securing the purchase of the company valued at $18.4 billion.

The Role of Technology Advancement in Promoting Individual Growth

Successfully steering UTC depends heavily on groundbreaking technology coupled with efficient service delivery by its staff. Once appointed as CEO, Chenevert made it his life’s mission to harness his personal experience and knowledge to take UTC to greater heights. More important is the fact that he invested in the right technology to promote synergy with his staff.

According to Chenevert, the key to dominating the industry lies in investing in his staff; therefore, he developed the Employee Scholar Program. Through the program, employees can pursue further education at the company’s cost with the sole intention of creating the most skilled labor force in the market. Despite spending over $1 billion in educational programs, the benefits have been limitless.

Apart from the Goodrich acquisition, Chenevert also played an active role in securing the government contract for the supply of F-35 engines which effectively earned the company a “monopoly” status. Louis Chenevert is also credited with championing for regular improvements that can lead to consistent growth.

October 4, 2017

Posted In: Business, Industry, Investing

Talos Energy Discovers Gold in Offshore Waters

If you’re unfamiliar with Talos Energy LLC, it is an oil and gas company that has recently entered into a business venture with Premiere Oil and Sierra Oil. The business venture has afforded Talos Energy the opportunity to sink a new offshore oil well in Mexican waters, which constitutes a significant resumption after an almost 80-year break, from private company offshore oil wells in Mexico. According to WorkBoat (an online resource for commercial marine professional), the business endeavor will likely drive foreign competition in the Mexican energy market.

The first offshore exploration well drilled by Talos, and its business partners, was the Zama-1 well, which is located in 546 feet of water and 37 miles from the Port of Dos Bocas. The well reached an initial vertical depth of 11,100 feet. In a Market Watch article, Tim Duncan (President and CEO of Talos Energy) stated: “We believe this discovery represents exactly what the energy reforms intended to deliver: new capital, new participants and a spirit of ingenuity that leads to local jobs and government revenues for Mexico.” When asked about the future for Talos Energy, Duncan states that the company is excited to appraise the discovery of the Zama-1 well, and they look forward to not only continued drilling but also maintaining their momentum, by adding new drilling opportunities as well.

Talos Energy is a privately held company founded in 2012 by Tim Duncan; the company got its start as a result of 600 million in equity, generated from private equity investors Apollo Global Management Riverstone. Talos Energy boasts a workforce of 120 employees and is headquartered in Dallas, Texas, and according to Chron.com, since entering offshore well drilling in Mexico, the company has produced more than 16,000 barrels of oil daily. These oil barrels translates to energy for homes, cars, businesses, and spurs the creation of jobs. Although the success of the Zama-1 well was immense, it was a joint effort; according to Market Watch, a financial information website, the offshore exploration that discovered oil is comprised of diverse participation interest:

35% participation interest from Talos Energy·

40% participation interest from Sierra Oil and Premiere Oil·

President and CEO Tim Duncan cites hard work on the part of Talos Energy’s operation team and the successful collaboration with Sierra Oil and Premier Oil, as the basis for the company’s success. To know more about Talos Energy click here.

August 31, 2017

Posted In: Business, Industry