Tony Petrello started out his career working at the New York law firm Baker & McKenzie where he specialized in corporate taxes. He was with this law firm from 1979 to 1991 and was the Managing Partner of the company for the last six years he was there. In 1991 he was hired by Nabors Industries, Ltd. as their Chief Operating Officer. He is now Nabor Industries Chairman of the Board, President, and Chief Executive Officer.
Under Mr. Petrello’s leadership, Nabor Industries has grown into the largest land-based drilling fleet in the world with 500 drilling rigs in 25 countries around the globe. They are also a leader in the shale-fracking industry. The company is organizationally run from its offices in Houston, Texas.
In 2012 Tony Petrello was paid $68.2 million in compensation. In 2014 Nabors Industries changed its corporate governance and compensation bylaws. Due to this change, Mr. Petrello compensation dropped but he was still paid $27.7 million in 2015. While he has been with the company it has grown from one of the smaller players in the oil industry into one of the largest.
Tony and his wife, Cynthia, have a daughter that was born premature and was diagnosed with periventricular leukomalacia. This is a neurological condition that is caused by a lack of oxygen to the brain. Due to this condition, she has cerebral palsy which has symptoms that include development delays and impaired motor skills. As a result of this, the couple has themselves to helping children that suffer from cerebral palsy and research into therapies that can help with it.
Tony and Cynthia Petrello donated $5 million, and have a commitment for another $2 million, to the Jan and Dan Duncan Neurological Research Institute. This institute is located at the Texas Children’s Hospital in Houston, Texas. Additionally, Tony serves on the Texas Children’s Hospital Board of Trustees as a member. He has said that there are institutions that are focused on neurological conditions of adults but before the institute at Texas Children’s Hospital there was nothing to be found for children.