In the oil business Nabors industry is among the leading companies with one of the biggest oil drilling rigs in the world, the company has about five hundred rigs that are spread out to twenty-five countries. Nabors business in not only in North America but extends over continents like Africa, the Middle East, the Far East and the Americas. The industry, however, is not in the business as a producer but as contractors deal with drilling services and drilling tools, in addition, Nabors is the best when it comes to advanced computerized technology which they sell to all their markets all over the world. The company trains its employees on how to use this advanced machines thus putting Nabors at the top with the most highly trained personnel.
The company has had a few notable CEO who have brought it to the high level of standard that it’s at. One among this CEOs is Anthony Petrello a genius mathematician from Texas who has worked hard to bring Nabors to its glory. Tony Petrello as he is referred to by many people around him is the CEO and chairman of Nabors Industries. While working for a law firm called Baker & Makenzie dealing with corporate taxes, Tony got Nabors as his client and did some work for them, after the managers went through his work they were very impressed and decided to hire him. Later on, in 1991 Anthony Petrello joined the board of directors and after this, he went on to replace Eugene Isenberg as the CEO and Chairman of the Board.
After Petrello became president of Nabors the share prices went up to one hundred and eighty percent which was not good for the company and the shareholders. However, his time as CEO was not all that smooth with concerns rising about his vast paycheck. Anthony, regardless of the pressure he was getting from shareholders he managed to change a few things like the corporate governance and compensation practices and dividing the roles of CEO with that of the chairman. Finally, to solve the salary issue Anthony’s paycheck was linked to the company’s performance. However, despite the difficulties that Tony has faces he still emerged as the best CEO Nabors Industries has had.
The success story of Anthony Petrello is an amazing one, from a humble background to become one of the highly paid business executives is no little achievement. To make juicier is that he became the head of one of the largest companies there is in the whole world.
Anthony Petrello info: www.inc.com/profile/nabors-industries