Facts About Tony Petrello
Tony Petrello attended Yale University for his bachelor’s degree and then master’s degree in Mathematics. He then joined Harvard Law School for J.D. degree. Petrello started his profession as a consultant in the office of the attorney general in the state of Massachusetts from 1976 to 1979. In 1979, he joined Baker & McKenzie LLP where he occupied various positions until 1986 when he became a managing partner, a position he held up to 1991.
Tony Petrello joined Nabors Industries Incorporation and became a member of the Board of Directors in 1991. From 1991, he had been the President and COO until 2011 when he became the Deputy Chairman, President and COO of the Company in 2003 and then CEO in 2011. In October 2011, Eugene Isenberg stepped down, and Tony rose to become the Chairman, President, and CEO of Nabors Industries Ltd in 2012. He has maintained that position even as the company changed back to Nabors Industries Inc. in 2013.
In 2015, Tony earned $1,580,077 as his annual salary and $16,863,656 as stock. He also made a bonus worth $7,727,000 and $1,342,206 from other sources totaling $27,512,939. This made him the highest paid oil executive in America. However, in 2014, the prices of oil dropped leading to reduced earnings for the company. In December 2014, Nora Olabi, Digital associate editor for Houston Business Journal, wrote that Tony Petrello was to receive a significant pay cut of up to 10% the following year.
Nabors Industries offers a lot of job opportunities in the regions it operates in, notably USA, Canada, Middle East, and Africa. The Company has played a significant role in exporting oil exploration technologies to other regions and countries. It also offers investment opportunities.
Lloyd Grove and Tony were roommates during their first year in college. On May 30, 2014, Lloyd wrote an article in the Daily Beast highlighting about his encounter with Tony. He says Tony was so excellent in mathematics that he became a protégé of their lecturer Prof. Serge Lang. Lloyd was shocked to learn that Tony is now among the highest paid executives in America.
Tony Petrello has a daughter, Carena. She was born prematurely and suffers from periventricular leukomalacia (PVL). This condition is caused by lack of enough oxygen in the brain leading to delay in development. At the age of 8 years, Carena was learning how to chew solid food, evidence of delayed development. In addition, she needed to be taught how to walk and talk.
Tony and his wife have been very supportive of the overall health of children. In particular, they have given donations to Texas Children’s Hospital Jan and Dan Duncan Neurological Research Institute. They have been successfully heading the Texas Children capital campaign. One time, they assisted in raising over $500 million. Also, Cynthia chairs several other fundraisers to help the mentally ill. The family associates their inspiration for the support they give to their daughter’s spirit, desire and purity of heart.
Click here to learn more about Anthony Petrello’s busines career.