In 1991, Tony Petrello joined the board of directors in Nabors. He had just come from Backer & McKenzie where he was handling corporate law. Petrello began as the chief operating officer and president. He also served as deputy chairman and chairman of the board. As a person experienced in operations, Petrello formulates strategies and initiatives for Nabors. Adopting new approaches is an essential business requirement since the business environment is competitive and dynamic.
Being a leader in Nabors is a major achievement in the corporate world. Nabors is the owner and operator of big drilling rigs in the world. Although it is not an oil producer, the company acts as a contract driller. Nabor owns about five hundred rigs in twenty-five countries and all these rigs are active. Due to its top position in the oil business, it pioneers in innovative technologies and tools of performance. These high standards are aimed at delivering quality and expected results in the industry.
Before Tony Petrello began career, he attended Harvard Law School. He also pursued a degree in Mathematics from Yale University. Apart from Nabors, Petrello also serves as a director of Hillcorp Energy Company and Stewart and Stevenson. The strong education background gave Petrello a robust start in his career. Companies preceding Nabor were suitable in giving Petrello rich experience.
Petrello’s top position came with highly rewarding salary. Tony Petrello is among the highest paid bosses in America. He earns so much because of the roles and responsibilities he has in Nabors. He is the chairman, CEO, and president. In 2014, Nabors changed its compensation approaches. Some of the money was directed to shareholders and it negatively affected Petrello’s salary.
Cynthia and Tony Petrello have a daughter with periventricular leukomalacia. Carena was born with this condition but has managed to live with it until now. Carena’s parents were motivated by this condition. They decided to support research that will bring remedy to such disorders and others. So far, Cynthia and Tony have donated a total of seven million to Jan and Dan Duncan Neurological Research Institute. In future, this institute hopes to discover curative approaches for developmental disorders. Carena and other children will recover and continue to grow like normal children.