Tony Petrello; The Man Behind the Success of Nabors
Anthony Petrello is the current chairman and CEO of Nabors Industries. The Bermuda-based company is one of the largest providers of offshore drilling rigs. It is also the top natural gas and geothermal drilling contractor in the world. Its major operating market is the US. It also offers drilling services in other parts of the world that produce significant oil and gas. Anthony plays a huge role in sustaining growth and profitability of the company. Anthony Petrello is also known as Tony. He started Anthony Petrello career in Baker & Mackenzie law firm immediately after completing his education at Harvard Law School. He worked at the law firm from 1979 to 1991. Tony had risen to the position of managing partner by the time he left the company.
Mr. Petrello joined Nabors as its chief operating officer in 1991. He did not last long in this position. He was appointed the president in 1992. He became the deputy chairman of the company after ten years in the position. He served in this position until June 2012 when he took over the role of chairperson. He was the CEO of Nabors Industries before this. Tony’s other senior roles outside Nabors include director of Texas Children’s Hospital, Hilcorp Energy Company, and Steward & Stevenson. He strongly advocates for an increase in clinical programs and research on children affairs at Texas.
Mr. Petrello’s cumulative compensation in 2015 amounted to $27,512,939 owing to various high-level roles that he holds in different organizations. This includes a bonus of $7,727,000 and a salary of $1,580,077. The remainder was stock and other compensations. He is one of the best-paid CEOs in the US. AP and Equilar ranked the top 50 paid CEOs in 2013.
Mr. Petrello made it to the top. He did not defend the title in 2014 due to the withdrawal of compensation plans by the company shareholders. The company’s share price went up by 180% since his elevation as the head of Nabors. The shareholders failed to back the generous bonus scheme for the executive even with this impressive growth.
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