The business world offers many traps for the unwary. Even when someone is prepared, they may find themselves at the whims of sudden shifts in the winds of fortune. After spending 22 years at NABOR, a company that provides support for drilling to natural gas wells, geothermal energy installations, and oil wells, Antony Petrello is well acquainted with many of these traps. Sometimes these sudden shifts of fortune come from a change in the economic climate, or they come from shareholder pressure. One such change is how executives should be paid. Petrello led and agreed a growing movement that shifted the way top executives at NABOR should be paid.
The controversy occurred several years after the Great Recession started. Many people felt the US bankers who helped cause the event should have been punished with jail time. Instead, they were rewarded with bonuses. The money to pay for these bonuses often came from the bailout funds. It sparked ire. Several years later, shareholders demanded that executive pay be tied to the performance of the company.
Petrello saw the writing on the wall. Anthony Petrello decided to lead the way in the pay structure change. Like any good leader, he decided to set the example. He let his contract be bought out so new executives could take over his role as chief executive officer at the company. After 22 years, he found it hard to leave entirely, and the company welcomed his further input. Anthony Petrello continues to serve on the board of directors. In the past he served as a director for the Texas Children’s Hospital and a committee member and a director for Steward and Diesel. For more info about us: http://fuelfix.com/blog/tag/anthony-petrello/ click here.