While not quite topping the list of best paid bosses for 2014 and receiving a 10% cut to his base salary as well, Anthony Petrello of Nabors Industries Ltd., still managed to accrue a total compensation package of $27,512,939 for fiscal year 2015.
This also despite an 80% reduction in total compensation when Anthony Petrello topped the list as highest paid oil executives in 2013.
The move was the result of an initiative the company began in 2014 to overhaul pay practices in regards to executive compensation. The company also took to the normal industry practice of linking top executives pay to the overall financial performance of the company. The move was finalized with a clinching vote by company shareholders at an annual advisory meeting in 2015.
Tony Petrello has been with Nabors Industries since 1991. Prior to his joining the company, Tony focused on international arbitration, taxation and general corporate law at the law firm of Baker & McKenzie and was Partner of it’s New York base office.
In 1991 he left Baker & McKenzie and was elected to Nabors Industries Board of Directors and the Executive Committee of the Board as well as serving as it’s President and COO until 2011. That same year he was named CEO of Nabors Industries after then CEO Eugene Isenberg stepped down.
In 2012 he was named Chairman of the Board and Chairman of the Executive Committee of the Board. However, since overseeing the operating functions of the company is not enough work for him, Tony also strategizes planning initiatives that allow the company to compete more prosperously in the market.
Anthony Petrello also serves as director of Stewart and Stevenson, LLC and Hilcorp Energy Company. His most important and personal work though, is as a member of the Board of Trustees at Texas Children’s Hospital where he advocates for the research and development of clinical programs for the needs of children suffering from neurological disorders.