As far back as the 1990-1991 recession, Nabors Industries Ltd., a large oil and gas drilling contractor, performed well with the company earning tens of millions of dollars during a time when many businesses posted substantial losses. It was on October 1st, 1991 that Nabors wisely hired Anthony Petrello as its Deputy Chairman, President, and COO. Petrello’s previous position had been as Managing Partner of the New York office of the law firm, Baker and McKenzie until he resigned in 1991 to attend to his duties at Nabors. Petrello brought with him a stellar resume of experience and a J.D. from Harvard Law school, including bachelors and masters degrees in mathematics from Yale University.
The year 1992 saw continued earnings growth that nearly doubled the earnings from the previous year, and their stock value jumped significantly, earning a listing on the S&P MidCap 400 Index. Throughout the rest of the 1990s, Nabors’ stock doubled, with another 50% increase that followed shortly after that.
Nabors continues today as a thriving business, with Mr. Petrello as Chairman, President, and COO until 2011, and named President and CEO that same year. Since 2012, he has served as Chairman of the Board and Chairman of the Executive Committee of the Board. Mr. Petrello’s illustrious career exemplifies executive leadership and vision, the kind necessary to navigate a bustling company such as Nabors Industries, Ltd. through some of the most tumultuous worldwide economic conditions in recent memory.
Mr. Petrello’s extraordinary professional achievements were not without adversity. Mr. Petrello and wife, Cynthia, gave birth to a beautiful daughter, Carena. Carena, born at 24 weeks with chronically impaired motor skills, challenged the new family in a most dramatic way. The Petrello family committed themselves to caring for her, their very own miracle. Carena is a source of inspiration for Anthony and Cynthia and committed to donating a total of $7 million to the initiative to bring attention to much-needed research into childhood neurological conditions to which they are devoted to finding answers.
Fortunately for Carena, and other children like her, the Patrellos have the resources to make substantial donations to aid in the research to find a cure for PVL, or periventricular leukomalacia (PVL), a common neurological disease in premature infants. In fact, on the Texas Children’s Hospital’s website, the Petrellos are listed as one of several leading givers to the Jan and Dan Duncan Neurological Research Institute (NRI) at the Texas Children’s Hospital. Thanks to the commitment and devotion of the Petrellos and others like them, the NRI can begin to realize their mission to find a cure for PVL and other devastating neurological disorders. Their spirit of giving and their compassion for others demonstrates that when enough people get involved, miracles can, and do, happen.