Anthony Petrello’s Excellent Leadership Skills

Anthony Petrello has had an interesting career which began at the Baker & McKenzie law firm in 1979. He dealt with corporate law, specializing in taxation and in 1986, he was appointed managing partner at the firm. His excellent leadership and expertise in corporate law saw the firm perform exceptionally well and attract many more clients. His career took an interesting turn in 1991 when he left Baker & McKenzie for Nabors Industries, an oil and gas drilling company.

Anthony Petrello joined the company as Chief Operating Officer and soon afterwards, he also took up the position of deputy chairman. He quickly rose through the ranks and in 1992, Mr. Petrello was appointed president of the company. He worked closely with Mr. Eugene M. Isenberg who was then the CEO and together they helped the company grow by leaps and bounds. In 2011, Mr. Petrello took over as CEO. His tenure as CEO has been a successful one so far as seen from the fact that the price of Nabors’ shares has gone up by over 150% ever since he took over. Anthony Petrello has served on the board of directors at Stewart & Stevenson, LLC and has held this position since 2011. He has held many other high-profile positions in various firms in the US.

Nabors Industries

Nabors was founded in 1968 and has grown exponentially over the years it has been in operation. The company employs seasoned professionals who provide excellent services and guarantee 100% customer satisfaction. Besides striving to provide their clients with the highest standards of service, the company’s leadership is also very concerned about its shareholders’ interests. This was evident from back in 2013 when shareholders were not very pleased with Anthony Petrello’s pay package and benefits when he was named among the best paid bosses.

Read more: Nabors Industries (NBR) CEO Tony Petrello on Q1 2015 Results – Earnings Call Transcript

Mr. Petrello did not take this lightly and had the company’s non-executive directors review his compensation package. His pay was significantly reduced and the proportions of different rewards in the package altered to be in line with the shareholders’ interests. This meant more than half of his compensation would comprise stock awards to ensure he always had his interests aligned with that of other shareholders. Anthony Petrello’s compensation for the 2015 financial year was $27.6 million, with about 60% of this being stock awards. The roles of CEO and chairman of the board were also split and shareholders were given the right to appoint anyone with a 5% or higher stake in the company to the board of directors. The company’s shareholders were pleased with these corporate governance reforms.

Conclusion

Mr. Petrello enjoys what he does and this clearly shows through his numerous achievements. He is married to Cynthia Petrello and they have a lovely 8-year old daughter, Carena. He is also passionate about giving back to the community as seen from his huge donation of $7 million to the Texas Children’s Hospital Jan and Dan Duncan Neurological Research Institute (NRI) to fund research on various neurological conditions. He was inspired to do this by Carena who suffers from a neurological condition known as periventricular leukomalacia. Anthony Petrello enjoys spending his free time with his lovely family.

See more about Anthony Petrello on Wikipedia
Read more about Anthony Petrello on Bloomberg

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