Chenevert has completely changed the aerospace manufacturing industry forever. Never again would any other company in the sector be able to hold a candle to the United Technologies Corporation. He has led them to be the most dominant force and completely own the production of aircraft for both the military and commercial sectors.
The United Technologies Corporation works on a 30 year product cycle. This cycle is based on consumer needs and a passion to create life-changing products. They had worked with a small group of executives which have allowed them to create the most efficient cycle ever known. They also would go out to acquire key businesses that allow them to both diversify their portfolio and enhance their innovation.
While the main business for the United Technologies Corporation is to produce jet engines and sensors in flight controls and systems it is not as simple as that. They have gone further than any other company and created the most efficient engines in their field.
First of all, they took it right to Rolls-Royce and invaded their territory by taking away the monopoly they had for the large business luxury sector. They created the Gulfstream G 500 and the G 600. They also enhanced the GTF engine. This would fit in the F1 35, Bombardier C-Series, and the Airbus A320. This engine requires 30% fewer parts while also having a 20% more fuel efficient burn.
They would continue working with the United States government to produce the best aircraft and also at a rate that could not be matched. Their Sikorsky unit produces over 80% of the helicopters for the United States of America Military and does at a rate faster than any other industry. For all of his hard work, Chenevert receive a compensation package of 22 million annually.
The United Technologies Corporation is also known for its environmentally conscious ways. They spent immense resources reducing their own carbon footprint. Water consumption at the factories decreased by 53% and they also watched as gas emissions reduced by 24%.
Chenevert has left a legacy that’s difficult to follow well.
Randal Nardone has a net worth of over $1.8 billion and is ranked 557th on Forbes’ billionaires list. This isn’t what people expected when Nardone was at the University of Connecticut working on his English and Biology undergraduate degrees. Even when he completed law school at Boston University and got his jurisprudence doctorate, few, if any, of the people that knew Randal Nardone imagined he would be a billionaire soon. However, when Nardone gave up practicing law and began to work in the financial services industry, he had gotten on a path that would lead to him becoming very wealthy.
For Randal Nardone, the journey to a lucrative career in finance began when he left Thacher Proffitt & Wood, the law firm where he was a partner and an executive committee member, and began to work with Blackrock Financial Management. Nardone left Blackrock in 1997, spent a year as managing director at UBS, then co-founded Fortress Investment Group Rob Kauffman and Wes Edens in 1998. The company enjoyed a meteoritic rise and by the time Fortress Investment Group held their IPO in 2007 and became America’s first publicly traded large private equity firm, the company had a valuation of between $5 billion and $7 billion.
On paper Randal Nardone and all the other co-founders were billionaires at that point. But such great wealth was not simply given to Nardone and the Fortress Investment team. It took years of hard work and long hours for the value of Fortress Investment Group to rise to such a high level. During that time Randal Nardone has honed his managerial, directorial, executive and financial services skills by spending an inordinate amount of time holding leadership positions in almost a dozen companies. He has also been a top executive in many of Fortress Investment Group’s subsidiaries.
Now a husband and father, Randal Nardone’s schedule is even more hectic. Plus, in 2013 he was named CEO at Fortress Investment Group. Nardone was also named director of Fortress Transportation and Infrastructure Investors LLC in 2015. But Nardone has long proven he can handle with aplomb the responsibilities that come with those positions. He’s now a financial services professional with over 25 years experience. Nardone has used his financial acumen, experience, knowledge and expertise to help companies in several industries to thrive. His background in English, biology, law and finance has helped to make Randal Nardone very successful.
For details: www.marketswiki.com/wiki/Randal_A._Nardone
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