CEO Tony Petrello Is Among The Best-Paid CEOS
CEO Tony Petrello of Nabors Industries Ltd is a loving husband to Cynthia Petrello with whom they have a daughter called Carena Francesca. He is a mathematician and a lawyer by profession. Tony has worked at Nabors Industries for the last 26 years.
Tony’s Daughter, Carena Francesca
Being a premature infant, Carena Francesca was weighing 20 ounces and had a disorder identified as Periventricular Leukomalacia (PVL). PVL is characterized by inadequate or lack of oxygen supply to the brain. The doctors at Houston Women’s Hospital did all they could to save Carena’s sight and heart, but they were unable to save her from cerebral palsy. She now lives without speech and can’t feed herself.
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Tony Petrello was compelled by his daughter’s condition to start a philanthropic movement with the aim of finding solutions to childhood neurological diseases. In 2006, Tony and his wife mobilized funds to the tune of $7 million for the Texas Children’s Hospital. Dan Duncan and his wife, Jan Duncan, collaborated with Tony and Cynthia to donate hundreds of millions of dollars to many healthcare facilities in Houston. Some of the notable recipients of these donations include Baylor College of Medicine and the Texas Children’s Hospital.
Tony’s Total Compensation as at 2015
According to proxy statements from Nabors Industries, Tony received a total of $27.5 million in executive bonuses for the 2015 fiscal year. This figure was calculated by adding his salary, bonuses, stock, and all his other small compensations.
Why Tony was not the Top Earner In 2014
Tony Petrello topped the list of the best-paid CEOs in 2011, 2012, and 2013. However, in 2014, he did not appear on the list of highly paid CEOs since Nabors Industry revised its compensation traditions, slashing the severance pay for executives to only thrice their salary and bonus.