Anthony Petrello’s experience as chairman and CEO of Nabors Industries has been anything but a smooth ride. He was appointed CEO in October 2011 and has worked tirelessly ever since to steer the company in the right direction. He began his career as an associate at a law firm in New York but later moved to the oil and gas industry. Having worked with Nabors for more than 20 years, Anthony Petrello has extensive experience and expertise in the industry and is therefore well suited for his position as CEO.
Anthony’s experience as CEO
Anthony Petrello has faced a lot of challenges since his appointment as CEO of Nabors Industries. He has made a lot of changes to the company and has had to make very difficult decisions, but all these were in the company’s best interests. For instance, he had to lay off more than 3000 employees due to the poor performance of the U.S. oil industry. This was at a time when many U.S. oil companies were abandoning their operations because the industry was no longer as lucrative as it used to be. Many of the players in the industry suffered huge losses and had to make drastic changes to their operations, as was the case with Nabors.
Anthony also has to consider the needs and demands of all stakeholders and find a way to achieve a balance and keep them all satisfied. This was evident when he accepted a significant pay cut for both himself and other executives at the company to meet shareholders’ demands. His remuneration is mainly in the form of equity and this helps to keep him focused on the company’s performance as it directly affects his income.
Anthony Petrello is very passionate about his job. He does not let his personal life affect his job. He has an 8-year-old daughter, Carena, with Cynthia Petrello who suffers from a serious neurological condition, but he does not let this affect his performance at work. His position comes with a lot of challenges, but the fulfillment that comes with seeing the company perform well is what keeps him going. He has fostered a culture of excellence in the company, always having their clients’ best interests at heart. Leading a company requires someone who has all their wits about them; one who is able to conquer all the challenges of the company, and Mr. Anthony Petrello is just that.