How Tony Petrello Came To Lead Nabors Industries.

Nabors Industries is a publicly traded company that was formed in 1968. It is incorporated in Hamilton, Bermuda, and has its operational headquarters located in Houston, Texas. It is a firm in the oil and gas industry and it maintains the largest land drilling operations in this industry in the world with personnel in 25 nations worked on about 500 rigs.

Tony Petrello is the head of Nabors Industries and is one of the best paid chief executive officers in America. He earned about $15.37 million in 2016, for example, thanks to his salary and stock options. He was brought in to establish this company as one of the biggest in the industry and he has achieved this goal admirably.

Tony Petrello was born in Newark, New Jersey in a family of limited means. He set a goal of getting a full scholarship and he achieved this when he was able to attend Yale University at no expense. After earning both bachelor’s and master’s degree in mathematics he decided to attend Harvard Law School and graduated from there with a law degree in 1979.

For several years Tony Petrello was an attorney in law for a very highly regarded New York City law firm called Baker & McKenzie, eventually earning the status of being a partner. In 1991 Nabors Industries was one of this law firms clients and they were so impressed by his work they offered him a top executive job. He accepted the job offer and moved to Houston along with his wife.

When he first joined Nabors Industries he was their COO and president. He was offered to be named the deputy chairman in 2003 which he accepted. It was in 2011 that he earned his role as the company’s CEO. In this role he led the company to earn $2.2 billion in annual revenues in 2016. This was a substantial sum in a year that saw declines in the value of the price of a barrel of oil.

Tony Petrello is a philanthropist as well as a business leader. When his daughter Carena was born very prematurely she developed cerebral palsy. The more he learned about childhood mental disorders the more he knew he needed to help children with them. He gave a $50 million gift to the Neurological Research Institute at the nearby Texas Children’s Hospital so that vital research could be conducted into these types of mental disorders.

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