Category: CEO

UTC is Alive Today because of Wisdom

The United Technologies Corporation is by far the most dominant aerospace manufacturer in all of North America. They single-handedly equip the majority of corporate and privately owned airlines with fly sensors, autopilot mechanisms, landing gear, and jet engines. While it is the most dominant company in its industry today, this was not always the case.

Between the years 2006 and 2011 the world faced the great recession. As the housing market imploded in the United States of America it sent ripples worldwide. Countries such as Greece and Portugal ended up declaring bankruptcy because of what happened here.

Many industries were affected by the global recession and that included the aerospace manufacturing industry. Many business analysts thought that the clock was counting down concerning the United Technologies Corporation. In their times of desperate need they brought in the big guns. They hired the Chief Executive Officer Louis Chenevert.

Chenevert was able to not only keep United Technologies Corporation afloat, but he was able to nearly triple the stockholder price.

When Chenevert arrived at United Technologies Corporation he merely set to work with three strategies to secure this company’s future. The first strategy was cost-cutting. He knew that during this time of recession, increasing profits would be a very difficult task. Rather than increasing the input, he knew the best strategy would be to decrease the output. By moving several factories close to one another and internally moving their own supplies, he was able to save the company $150 million over a span of five years.

He also stabilized the company by offsetting the deficit. To do this he acquired companies that held strategic value and military contracts and corporate infrastructure.

These wise business moves enabled him to take United Technologies Corporation and move their share price from $37 a share to $117 a share. During his time, he increased the company’s value to the $3 billion. In return for this work, he was awarded a $14 million compensation package.

Chenevert now works for Goldman Sachs as a consultant working in the executive branch division to provide them great Council.

https://www.crunchbase.com/person/louis-r-chenevert#/entity

Tony Petrello; leading by example

Giving is far more than receiving. This is common wisdom. However, the number of people holding it close to their hearts and practicing it is incredibly low. In as much as giving is quite rewarding, it is also the most difficult principle to master. For those who manage to practice it, it becomes a source of joy and fulfilment to them. Tony Petrello, the CEO of Nabors Industries Ltd, is among the few who practise this wisdom and actively tries to influence others to do the same.

As the CEO of Nabors Industries Ltd, Mr Tony Petrello has taught his employees the art of giving. This he has done by being at the forefront of philanthropy in Houston. For those who frequent Philanthropic events in Houston, you will hear of his donations and participation in many projects. At Nabors Industries, MrPetrello has set up a foundation called Nabors Charitable Foundation. Through this foundation, the employees get to give towards giving educational scholarships to employee’s children and employees themselves. Tony also ensures that every year, the employees at Nabors Industries undertake a project that focuses on giving back to the society in which they work.

As a result of this giving back culture Mr Tony Petrello has cultivated in Nabors Industries, the employees found it very easy to leave their work stations to go and help those affected by Hurricane Hervey. MrPetrello says that he didn’t have to convince his employees to go help out. When called upon, the employees gave a total of 173,622 dollars towards the rescue mission through the Nabors Disaster Relief Fund. This sum was matched by MrPetrello thus seeing the company give a total sum of 347,224 dollars towards helping those affected.

Apart from the donations given by employees, MrPetrello gave them paid off to go help out. This was done despite the fact that only 10% of the 1,200 Nabors employees were affected. Instead of insisting they all go to work, Nabors CEO paid his team to go out and help. He also had the Nabors Industries’’ on site kitchen cook large volumes of hot meals which were supplied to families affected. This was done three times a day.

MrPetrello is truly a giver at heart. Apart from the influence he has on his employees to give in cash and in kind, he also has a desire to help solve the world’s problems. Having done some research on neurological disorders in children, he discovered that not much had been done in that regard. So he gave 7 million dollars of his own fortune to help put up a hospital in Texas that takes care of people suffering from these disorders.

Learn More: fuelfix.com/blog/tag/anthony-petrello/

Roc Nation Celebrates the Success of Desiree Perez

The Roc Nation brand has grown up over the last decade to include a wide variety of different endeavors across the entertainment industry with the aid of Desiree Perez as one of the most important executives at the company. Desiree Perez has recently been named to the list of most influential female entertainment industry executives as she works her way through the different departments of the Roc Nation brand to provide support and stability to all.

Over the course of its life which began in 2008, Roc Nation has tied itself to a number of existing brands to quickly establish a new way of working in various sectors of the industry; in many cases, Desiree Perez is given the responsibility to oversee the first stages of the new areas of development sought by founder, Jay-Z. In 2013, Desiree Perez and Jay-Z worked together to found the initial incarnation of Roc Nation Sports, a talent agency for athletes which has already attracted many of the biggest names in U.S. and international sports. Working with the already established Creative Artists Agency, Desiree Perez has managed to bring high-profile athletes to the agency including basketball’s Kevin Durant and wide receiver, Dez Bryant of the Dallas Cowboys.

Developing the Roc Nation brand has allowed Desiree Perez the opportunity to create a new way of creating strategic partnerships with existing brands such as that established with the Creative Artists Agency. Among the decisions and contracts, Desiree Perez has played a major role in are those regarding the recent partnerships between Roc Nation and music publisher, the Universal Music Grou, and the development of the partnership between Jay-Z and leisurewear corporation Puma. These partnerships are among the many reasons Desiree Perez has been named one of the most influential female executives in the entertainment industry.

https://www.crunchbase.com/person/desiree-perez#/entity

Philanthropist and Law expert-Erick Lefkofsky

Lung cancer is associated with several environmental factors which contribute to the condition among them smoking of tobacco. However, it is not the environmental factors which cause lung cancer, but also the generic factors. A team of cancer experts led by Dartmouth researchers among them Yafang Li, Ph.D., has carried out a study to determine the effects of tobacco smoking on causing lung cancer. During their study, it was decided that there is a Single Nucleotide Polymorphism (SNP) which lies in the human DNA and is vulnerable to disease was identified. However, the experts did not only recognize the SNP that cause lung cancer, but they also discovered another small cell which is non-cancer as well as one squamous lung cancer risk. The three SNP discovered have been published in carcinogenesis.

Erick Lefkofsky can well be described as an American successful entrepreneur who has a particular interest in cancer. Mr. Erick was born on September 1969, Erick has co-founded and founded not one organization but several successful firms among them; Light Bank a Chicago based venture Capital institution, MediaOcean, InnerWorkings, Echo Global logistics, Groupon where he is the Chairman, as well as the co-founder of Tempus. He has been an entrepreneur and an investor since he was young.

Erick began by selling carpets at the University of Michigan. After his law studies, Mr. Lefkofsky together with his friend wanted so much to buy Madison, Wisconsin but did not have enough money. With money borrowed from friends and family, they were able to realize their dream of purchasing the apparel firm. His investment spirit did not end there instead to get her with another friend; they co-founded an internet company; Starbelly in 1999. Starbelly specialized in promotional products. The digital firm experienced a tremendous expansion, and a year later after its creation, it was sold to Hola industries in January 2000. Mr. Erick did not leave the company; instead, he joined Hola Industries becoming the Chief Operating Officer.

Erick Lefkofsky is a charitable man, and in 2006 together with his wife Liz the decided to found Lefkofsky Family Foundation which is a private non-profit organization founded with a purpose of positively impacting the community Erick is also a leader who since he began serving, has shown a positive impact in his management. He is a Trustee at Lurie Children’s hospital based in Chicago, Industry and World Business Chicago, the Museum of science and industry, as well as the Art Institute of Chicago. Erick is also a published author.