Tony Petrello is the CEO of Nabors Industries, the biggest oil and natural gas drilling company in the United States. Nabors is an off-shore drilling company with headquarters in Texas and has the best drilling rigs in the drilling industry. The company was started as a contractor of geothermal, oil and natural gas equipment.
Over the years, it has grown into one of the greatest companies in the world. Tony Petrello joined the company in 1991 as the Chief Operating Officer. In 2011, he was appointed the CEO after overseeing a major transformation in the company in different capacities.
Tony Petrello’s role in this company cannot be underestimated. Since he joined the firm, it is no longer the same company. He came up with brilliant ideas of boosting business through acquisition. He was behind two major acquisitions of competing firms. These acquisitions enabled Nabors Industries to expand its operations. Currently, the company is operating in 25 countries and has hundreds of rigs in different locations. Petrello has managed to lead the company at probably the worst time. The economic crisis has messed up many companies which have been forced to close down due to a shortage of finances. Nabors Industries have however not been affected greatly. In fact, during the crisis, the company was doing very well. Post the 2008 financial crisis, Petrello has managed to take the company through the hardships and has seen the business do even better than it would be expected.
Anthony Petrello is not only prolific with business; he is doing very well in giving back to the community. Nabors Industries have created huge wealth which he is now using to supporting the weak and the needy. His main goal in philanthropy is to see the success of neurological disorders treatment research being carried out at the Texas Children’s Hospital. He has been supporting this research since his daughter was born with the neurological disorder. He tried going around the world looking for a facility that could treat her, but there was none. He decided to come back home in Texas and supported Texas Children’s Hospital research treatment of this problem.
Tony Petrello has contributed $5 million to the research center and has pledged to add $2 million later. Petrello is working closely with his wife who is also passionate to see the research succeed as it will solve the medical condition of her daughter as well as thousands of other children who suffer from similar conditions.
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You cannot mention Nabors Industries Limited without mention Anthony Petrello. Popularly referred to as Tony, Petrello has been with the company since 1991. He began his career as the Chief Operating officer in 1991 before progressing up the ladder to become the Chair of the Board in June 2012. His presence in the company has seen it grow in leaps and bounds, growing it from the Anglo Energy it was back in 1968 into being one of the biggest natural gas and geothermal drilling conglomerate in the world.
Tony Petrello earned a J.D. degree in the Harvard Law School and also has a bachelor’s and master’s in Mathematics at Yale University. After his studies, he signed up with Baker & McKenzie where he was the New York Managing Partner from 1986 to 1991. His steady and resilient work in crucial positions at different companies have contributed to his impeccable performance in Nabors and also have contributed to his being the best earning CEO in the world right now.
Anthony Petrello and his wife, Cynthia Carrafa are the parents to a lovely daughter, Carena who was born prematurely. She developed a cerebral palsy condition right after birth, something that forced Mr. Petrello into turning his philanthropic efforts into finding a cure or health care procedures to children suffering from the same condition.
While Mr Petrello could have easily used his money to give his daughter a better future, his happy heart led him to donate $7 million to the Texas Children’s Hospital to help further neurological research.This is a great gesture from someone who makes such an impressive amount per year. His 2015 compensation was especially remarkable. His earnings for Petrello’s position as the Nabors CEO totals to a whooping $27,512,939. His basic salary stood at $1,492,982. This coupled with bonuses and a stock share of up to $16,863,657 brought his compensations to this commendable count earning him a position in the list of best paid CEOs in the region.