Anthony Petrello Remains Most Valuable CEO

Anthony Petrello leads Nabors Industries, owners of the world’s largest fleet of oil drilling rigs that operate on land. Because Nabors Industries is not a high tech company selling Internet equipment or social media, few Americans have heard of it. It doesn’t often make the news. It doesn’t run commercials on TV or banner ads on Yahoo.

However, Petrello topped Associated Press list of most highly compensated corporate executives for 2013. He made $68.2 million that year. That’s despite living in Houstin, Texas, not Silicon Valley or Seattle, Washington. And his business is anything but glamorous. Nabors Industries leases out its rigs to dig oil and provides related services. It’s a drilling contractor for natural gas, oil and geothermal operations on land throughout the Western Hemisphere, Africa, Asia and the Middle East. It also services both onshore and offshore drilling rigs. And it works in the shale-fracking industry.

The company hired Petrello in 1991. Before that, he had spent five years as Managing Partner of the New York City office of Baker & McKenzie, a law firm. Nabors Industries was one of Baker & McKenzie’s biggest clients, so that was the beginning of his exposuure to the energy services industry. Going from the practice of law in corporate taxes to servicing oil rigs must have been quite a transition, but Petrello made it. He became President, Deputy Chairman and Chief Operating Officer of Nabors.

Nabors Industries grew through the decade, and it was added to the S&P 500. Petrello became President and CEO of Nabors Industries in October 2011. In June 2012 he became Chairman of the Board.

Petrello came from Newark, New Jersey. A math whiz, in his freshman year of college Petrello became the protege of Professor Serge Lang, a renownked mathematician. He is active in philanthropy. He gave $7 million to the Texas Children’s Hospital. For more info about us: http://executives.findthecompany.com/l/18290/Anthony-G-Petrello click here.

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