There is a higher probability that the arrangement of the acquisition of Goodrich Corporation was one of the great achievement made by Louis Chenevert. Goodrich Corporation was an aerospace manufacturing company that has previously been one of the largest rubber manufacturing industry in the world. The ultimate decision in acquiring Goodrich was generally to get its hands on an aircraft component manufacturer that would, in turn, reduce the internal costs of production but instead expand their market share even more. The fact is that such a deal won’t be easy to handle.
However, Louis Chenevert spent a year investigating this purchase, negotiation in conjunction with the discussion on details with Goodrich to the point that they were finally at a point of agreement. In the year 2011, UTC paid 18.4 billion USD to take over the ownership of Goodrich and absorb it into their company and blend it with another property to turn it into UTC aerospace systems. This was meant to turn UTC into a multi-national conglomeration. This would, in turn, give them a higher probability of market dominance across the entire world.
In the year 2014, Louis Chenevert shocked the world when he announced that he was planning to step down as the CEO of UTC. Many people were surprised and had many questions towards this decision by Chenevert since the company was by then performing so well. On top of the excellent performance, there were no failures, no scandals, neither public humiliation. This brought the main question as to why he would decide to step down after being so diligence in his services on such an outstanding company. Louis chose to live the life of semi-retirement by getting involved in Goldman Sachs as an exclusive adviser. As a result, he left on high recognition with UTC for developing a company legacy that will be remembered forever.
This option has given Louis Chenevert an opportunity for him to pursue his passion especially designing yachts as well as engineering. He immediately ventured in designing the best possible yacht that he could. He managed to design and construct three different yachts. He does not only enjoy the retirement but also ventured on the various things that matter most to him. This incorporates production and design. His dedication and commitment will live to be remembered.