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Nabors CEO Anthony Petrello’s Story On Supporting The Texas Children’s Hospital

Cerebral Palsy is often the cause of an illness affecting young children known as periventricular leukomalacia, a situation that often leads to extensive brain damage. Currently, there is no cure for it, but medical researchers are getting help from certain businessmen who’ve had a newfound interest to fund them, including Nabors Industries CEO Anthony Petrello. Petrello has had this particular situation affect him and his family.

Petrello and his wife Cynthia’s young daughter Carena was born with PVL, and Petrello who had up till that point been focused on advancing career, now had a new passion to help his daughter in any way he could. He took her to many of the nation’s most advanced doctors who provided guidance on how to care for her, but explained that no cure existed. But amidst the search, Anthony Petrello met Dan and Jan Duncan who had recently helped start a research center at the Texas Children’s Hospital that was then renamed in their honor. Together with their help, Petrello began a fundraiser to bring in new study technology and contributed $7 million of his own funds to it. His hope is that more people from the Houston business community join this effort and understand how important the work is.

Anthony Petrello at one time landed the title of the nation’s highest paid CEO when Nabors Industries restructured his contract at $68 million a year including his equity and bonus compensation. As CEO of Nabors, he leads the development of oil drilling technology and contracting equipment out to oil companies. Nabors Industries is on record as having the largest drilling fleet both in offshore modular rigs and land-based fleets. Petrello has managed not only developments, but also oversees shareholder relations and the overall direction of the company.

Prior to becoming the CEO and Chairman of Nabors industries, Petrello had a career in law. His roommate at Yale University where he attended first recalls how he was a mathematics genius, and he was even mentored by world-renowned mathematician Serge Lange. But instead of following in the footsteps of his mentor, Petrello became interested in financial numbers which he eventually turned into a legal career and became a lawyer that specialized in corporate law. He was an associate and later partner at Baker & McKenzie in New York in which he helped many billionaire clients in internal audits and overseas investments. In 1991 he left law and joined Nabors as Chief Operating Officer, later becoming CEO upon the passing of former CEO Eugene Isenberg.

To know more visit @: www.wsj.com/articles/SB10001424127887324392804578358772612205556

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