Tony Petrello Supports A Noble Initiative At Texas Children’s Hospital
Recently, Texas Children’s Hospital launched Neurological Research Institute (NRI), an initiative seeking to provide solutions to brain disorders in children. Tony Petrello together with his wife Cynthia donated $7 million and offered to lead the fundraising efforts to ensure that the institute realizes its goals. Their overwhelming support and dedication to lead the process was inspired by adversity. Tony and Cynthia Petrello are parents to Carena, an eight year old girl, who was born with a neurological disorder. Over the years, they couple has visited various hospitals to search for a cure of the disease. Carena is now learning to eat, walk, and talk. Inspired by the progress of their daughter, Tony and Cynthia hope that the launch of NRI at Texas Children’s Hospital will develop a cure to the disease for different children around the globe. Tony Petrello is a member of the board of trustees of Texas Children’s Hospital.
About Tony Petrello
Tony Petrello serves as the president of Nabors Industries, a leading oil drilling contractor. Nabors operates close to 500 rigs in 25 countries. The highly demanded drill contractor boasts of having the biggest fleet of land-based drilling rigs in the world. Tony started working for the company in 1991 when he was appointed to serve as a member of the board. His commitment to duty and demonstration of professionalism earned him a promotion to serve as the CEO of the corporation in 2011. The visionary leader was appointed to serve as the chairperson of the board in the following year. Under his transformative leadership, the company’s share price shot up by 180 percent. According to AP and Equilar’s list of 50 top-paid CEOs in the nation in 2013, Tony Petrello ranked as the highest paid CEO in America. In that year, Tony Petrello was paid 68.2 million, a sharp increase of 246 percent from 2012.
Despite of the excellent performance of the company, majority shareholders of Nabors were against the board’s compensation plans. In 2014, the board agreed to make changes in its corporate governance and compensation plans. These changes included splitting the roles of CEO and chairman, thus giving shareholders the power to elect any member with at least 5 percent stake in the company to the board of directors. In addition, the management deemed it fit to limit the executive severance payment and bonus. Previously, Tony Petrello worked for a renowned law firm, Baker & McKenzie. He specialized in corporate taxes. Tony has extensive managerial and leadership experience.