Anthony Petrello Career Life and Philanthropy

Anthony G Petrello chairs the board at Nabors Industries. He got elected as the chairman in 2012. However, since 1991, he has acted as a director in the company. He held the deputy chairman position for 10 years. Anthony became the president and chief executive officer in 2011. In 1991, he got promoted to become the chief operating officer until 2011. Besides his contributions to Nabors Industries, Petrello holds a position as a director at Stewart & Stevenson LLC and Hilcorp Energy. Mr. Petrello holds a degree in law from Harvard University. Additionally, he has a bachelors and master’s degrees in mathematics from Yale University. Petrello role in Nabors Industries is to provide strategic planning that ensures the company provides a competitive edge in the dynamic market.

In 1997, Petrello and his wife Cynthia got blessed with a baby girl at Houston Women’s Hospital. She was born weighing 20 ounces and had periventricular leukomalacia, a condition affecting premature infants due to lack of oxygen to the brain. Carena underwent a series of operations, and later, it became evident she would live with cerebral palsy. It was clear that the child was entering a life of challenges. According to Petrello, that moment was the turning point in their lives. During her life, she began losing some of the most basic abilities like talking, feeding and walking. With the challenges at hand, Petrello had to adjust his responsibilities. As they tried to help their daughter, Petrello realized there was little information in regards to the disease. Therefore, he founded an institute with Texas Children Hospital and committed $ 7 million to the research of the factors contributing to neurological affliction in children.

Petrello career propelled him to the top of the best-paid CEO in the world. In 2013, he became the top earning CEO and took home $ 68.2 million, a 246 percent increase from 2012. However, in 2014, things changed as the stakeholders demanded a review of the payment and re-numeration plan for the top executives in the company. After much discussion, the company changed its corporate governance and compensation practice. Severance pay to executives got cut to thrice their executive salary. The stakeholder also got the right to vote anyone with a five percent stake to the board. All these events sought to affect Petrello pay. His net pay went down, and most of it flows back to the shareholders. Learn More.

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