Anthony Petrello is the CEO and President of Nabors Industries. Nabors Industries is a contract driller and field service company that operates in sites all over the world. Some of the services and products that the firm offers include offshore drilling, rig equipment, land drilling, and drilling software.
The company’s stock price has nearly tripled in a few years with Petrello as CEO. The company’s success led to an increase in his compensation. This resulted in him becoming the highest-paid CEO in 2013.
The shareholders of the company decided to limit the compensation paid to executives at the firm so that it could be re-invested in the business. They did this by limiting severance payment to three times the salary of an executive and by splitting the roles of CEO and chairman. This is the reason why Petrello fell on the list of highest-paid CEOs in the world.
Petrello earned a Bachelor’s degree and a Master’s degree from Yale. He also has a J.D from the Harvard Law School. He started his career at Baker & McKenzie as a lawyer after completing school. His work focused on taxation, compliance, and corporate law. Petrello was appointed the managing director of the New York office in 1986. He served in this role until he retired in 1991.
Tony Petrello was appointed the President and COO of Nabors Industries in 1991. He was also elected to the executive committee of the board and the board of directors in the same year. Petrello was promoted to CEO in 2011. Petrello was appointed the Chairman of the board in mid-2012.