Tony Petrello Pays Employees For Volunteer Time During Hurricane Cleanup

Hurricane Harvey may always be remembered as the storm that shook the Texas coast and inflicted over $126 billion in damages, and certainly Texas citizens have as much mental and emotional recovery to do from the hurricane as they do physical damage. But there are many happy stories even among the tragedy of people selflessly giving of their time for physical rescues, and emptying their wallets to help victims receive the care they need. Among some of Houston’s most generous people is Nabors Industries Chairman and CEO Tony Petrello. Petrello decided not to just go back to business as usual after the hurricane hit, but instead he compensated every employee who pitched in with the recovery. Nabors Industries employees engaged in recovery activities ranging from physical repairs to helping trapped victims in rubble, and some made and served hot meals. Petrello donated over $170,000 of his own money to a relief fund that was matched by other donors.

Tony Petrello runs a tight schedule as CEO of Nabors Industries, one of the world’s most prominent oil drilling and technology development companies. He’s been with the company for over 25 years and at one point earned the recognition as America’s highest-paid CEO when his contract was restructured and he earned several bonuses for $68.7 million. Even though Petrello’s company has been a major employer in the Houston area and he’s given back millions of dollars to the community, he actually is not a Texas native.

Tony Petrello is originally from New Jersey and was better known as a math whiz in his younger days because he could be found solving complex math problems in his free time according to what his former roommate, Lloyd Grove at The Daily Beast said in a piece. Petrello appeared to be headed towards a career as a mathematician, but instead he surprised everyone by finishing his bachelor’s and master’s degrees in math at Yale University and getting his JD in law at Harvard. Petrello became an associate and later partner at Baker & McKenzie law firm where his practice centered around issues like tax compliance, offshore accounts, securities trading and other financial matters.

Petrello won over Nabors Industries’ executives with his financial law knowledge so they asked him to become Chief Operating Officer in 1991. When former CEO Eugene Isenberg passed away in 2011, Petrello took over his role and also became Chairman. In addition to managing billions in company assets and advanced drilling rig fleets, Petrello is also on the boards of several non-profit groups including the Texas Children’s Hospital and is a $7 million donor to their neurological research department.

Find more about Anthony Petrello: https://gazetteday.com/2017/07/the-real-story-behind-anthony-petrellos-success-as-ceo-of-nabors-industries/

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