Category: Canada

9 Feb

Louis Chenevert: The Power of Visionary Leadership

Great leaders do not come along every day. Preparation, circumstances, experience, and opportunity is what creates them. Ultimately though, they must be at the right place at the right time. Such was the case for Mr. Louis Chenevert, CEO of United Technologies Corporation (UTC) from 2006 to 2014.

When Mr. Chenevert, a native of Quebec, Canada, graduated from HEC Montreal with a Bachelor of Science in Production Management, General Motors (GM) then offered him a position. After 14 years with GM, he had achieved the title, manager of production. That is when he was lured away by the United Technologies Corporation’s subsidiary, Pratt & Whitney. Mr. Chenevert worked in Pratt & Whitney’s Canadian division, before emerging as president of the company.

As President of Pratt & Whitney, Louis Chenevert did not have much further to climb when he was named CEO of UTC in 2006. That was when Mr. Chenevert applied his vision of how a conglomerate like UTC should be structured. He had an idea which looked well beyond what he was given to build on. His view was to build a conglomerate that fit together seamlessly.

Thus as CEO Louis Chenevert acquired the Goodrich Corporation for $16.4 billion, and made similar smaller deals as a matter of forging synergies within the fabric of UTC. The purpose was to create a one-stop shop that could accommodate several of their customer’s needs in aviation and construction. The two primary revenue streams for the company.

Besides synergizing UTC, Mr. Chenevert also desired to centralize the company. By UTC bringing most of its skilled employees to work in Connecticut, the workforce would yield more significant technological innovation and make UTC more competitive. The development of the geared turbofan jet engine is a product of this process. These fuel-efficient quieter engines alone have virtually guaranteed UTC’s immediate future. No one can say what the talented engineers and technologist at UTC will come up with next.

Louis Chenevert provided an example of how a modern-day CEO must approach his or her business. The name of the game is to create an efficient structure and to depend on the talents of your human capital. It is not only visionary–it is logical to do so.

10 Jan

Obsidian Energy: Oil Producer and Manufacturer from Western Canada

Obsidian Energy is a company based in the city of Calgary, in the province of Alberta, Canada. The primary product of the company is natural gas and oil, and they are operating in the western part of the country. The company went through a rebranding process, and it was known before as the Penn West Petroleum. The restructuring and rebranding phase was conducted by the company’s executives and board of directors because they have seen that it might be the only hope that they have left in saving the dying company from complete bankruptcy.

 

The name Obsidian Energy was introduced to the public on June 26, 2017, and the return of the once largest and leading oil producer begins. Obsidian Energy was once known belonging to the top performing Canadian companies. They are also consistently included in the top 60 companies which can be traded on the Toronto Stock Exchange. The demise of the old Obsidian Energy was because the value of oil and petroleum crashed, and it resulted in a lot of consequences like being kicked out of the Canadian Royalty Trust and being devalued massively. During its peak, the company can make more than $9.5 billion profit per year.

 

 

Obsidian Energy was significantly affected by the surplus of oil which led to the crashing of its price. The original employees working for Obsidian Energy amounted to more than 2,500. Today, only 300 of them remained, and the number of dismissed employees is alarming because it has never happened in the history of Canada. David L. French, the present CEO of the company, assured the public that Obsidian Energy would survive any challenges that it is currently facing and that the value of the company will rise in the coming months or even years. Get Additional Information Here.

 

 

Now under the supervision of David L. French, Obsidian is doing everything that they can to ensure that the company would get back on track. Obsidian Energy is currently producing more than 31,000 barrels of oil per day, thanks to the cooperation that is taking place between the different departments under Obsidian Energy. They have also claimed that they can lead the country into an oil revolution if ever shortage would ensue.

 

Related: https://www.bloomberg.com/quote/OBE:CN

10 Jan

Obsidian Energy: Oil Producer and Manufacturer from Western Canada

Obsidian Energy is a company based in the city of Calgary, in the province of Alberta, Canada. The primary product of the company is natural gas and oil, and they are operating in the western part of the country. The company went through a rebranding process, and it was known before as the Penn West Petroleum. The restructuring and rebranding phase was conducted by the company’s executives and board of directors because they have seen that it might be the only hope that they have left in saving the dying company from complete bankruptcy.

 

The name Obsidian Energy was introduced to the public on June 26, 2017, and the return of the once largest and leading oil producer begins. Obsidian Energy was once known belonging to the top performing Canadian companies. They are also consistently included in the top 60 companies which can be traded on the Toronto Stock Exchange. The demise of the old Obsidian Energy was because the value of oil and petroleum crashed, and it resulted in a lot of consequences like being kicked out of the Canadian Royalty Trust and being devalued massively. During its peak, the company can make more than $9.5 billion profit per year.

 

 

Obsidian Energy was significantly affected by the surplus of oil which led to the crashing of its price. The original employees working for Obsidian Energy amounted to more than 2,500. Today, only 300 of them remained, and the number of dismissed employees is alarming because it has never happened in the history of Canada. David L. French, the present CEO of the company, assured the public that Obsidian Energy would survive any challenges that it is currently facing and that the value of the company will rise in the coming months or even years. Get Additional Information Here.

 

 

Now under the supervision of David L. French, Obsidian is doing everything that they can to ensure that the company would get back on track. Obsidian Energy is currently producing more than 31,000 barrels of oil per day, thanks to the cooperation that is taking place between the different departments under Obsidian Energy. They have also claimed that they can lead the country into an oil revolution if ever shortage would ensue.

 

Related: https://www.bloomberg.com/quote/OBE:CN