President, CEO and Chairman of the Board Anthony Petrello started his career with Nabors Industries in 1991, after previously working as a managing partner at the Manhattan law firm of Baker & McKenzie in New York. First elected to the Nabors Board of Directors, Tony Petrello became deputy chair in 2003, and in 2011, he was elected president and CEO of the company. Finally, in 2012, Petrello was elected to chair the board as well.
Petrello’s 2015 income of more than $27 million reflects his responsibility for leading Nabors, a global land-based drilling rig operator, in a highly competitive industry. His salary is tied to meeting operational and financial objectives and Petrello is rewarded for increasing shareholder value. Nabors offers drilling equipment and software, drilling and measurement systems and well site services as well and the company has a presence in almost all of the world’s top oil and gas producing regions. The board and Nabors’ investors are pleased with Petrello’s performance; the board renewed his 2009 employment contract for another five years well before it expired. In addition, Petrello serves as a director of oilfield equipment manufacturer Stewart & Stevenson and Hilcorp Energy Company.
Newark, New Jersey native Tony Petrello earned M.S. degrees in mathematics from Yale University; his former college roommate called him brilliant, with a promising career as an academic and a favorite of Professor Serge Lang. Instead, Petrello chose to attend Harvard Law School, where he earned his J.D. degree.
One of Petrello’s duties is a labor of love; he sits on the Board of Trustees of Texas Children’s Hospital. When Petrello and his wife Cynthia, who was his college sweetheart, had their baby girl in 1997, Carena was born prematurely and she developed cerebral palsy. After seeking help for Carena when she could not speak or feed herself any longer, Petrello realized that few researchers studied childhood neurological diseases, research focused on adult brain disorders. To spur research, he donated $7 million to the Texas Children’s Hospital in 2006 toward the founding of the hospital’s new Jan and Dan Duncan Neurological Research Institute.
Today, Petrello is a well-respected philanthropist. He and his wife founded the Petrello Family Foundation in 2001 to support the arts, health care and human service organizations in the Houston community, including the Assistance League of Houston, Crohn’s & Colitis Foundation of America and The Lazarus House. In 2011, Tony and Cynthia Petrello were the joint recipients of the Smithsonian’s Woodrow Wilson Award for Public Service.