After Harvey, The Houston Area Benefitted From Nabors CEO Tony Petrello’s Corporate Philosophy

Prior to Hurricane Harvey people in Houston Texas were already familiar with the generosity of Nabors Industries CEO Tony Petrello and his wife Cynthia.

Previously, the couple had made a $7 million dollar donation to the Texas Children’s Hospital. That contribution was the seed money that helped to found the Jan and Dan Duncan Neurological Research Center.

Neurological disorders in children is a cause that hits home with the Petrellos. Their daughter Carena has Cerebral Palsy. Tony and Cynthia’s efforts to find help for their daughter brought them to the conclusion that more needed to be done in terms of research and developing treatments for children like their Carena.

While studying mathematics at Yale University the mathematician Professor Serge Lang became Tony’s mentor and friend. When Lang passed away in 2016 Tony Petrello decided to preserve the memory of his deceased friend by creating an endowment in Lang’s name.

Tony’s initial contribution to the endowment was $150,000. Other Yale Alumni who had studied under Lang began to contribute as well. This prompted Tony Petrello to start matching other donations up to $150,000.

Tony Petrello became the CEO of Nabors Industries in 2012. The company handles drilling operations for oil companies. Their 500 drilling rigs are operating in over two dozen countries.

Recently, Tesco a company specializing in oilfield services became one of Nabor Industries’ holdings. While commenting on the acquisition Tony revealed his corporate philosophy. He stated that as Nabor’s fortunes grow the company’s obligation to the community grows proportionately.

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Philanthropy is a part of Nabors’ corporate culture. They support Bike MS and the Susan G. Komen Foundation. The company’s own charitable foundation funds education for its employees and their progeny. To date, the Nabors Charitable Foundation has paid out $3 million in scholarships.

When Hurricane Harvey wrought havoc on the Houston area earlier this year, Nabors lost no time in contributing to the relief effort. Approximately 120 Nabor’s employees were among Harvey’s victims. Other employees volunteered to aid in the recovery.

This meant losing time from work. Nabors paid their salaries as they helped people in their own and surrounding communities. The company’s mobile kitchens were in operation providing hot meals to the displaced.

When employees began raising money to facilitate the recovery Nabors pledged to match the results of their efforts. The sum of the employees’ efforts added to the matching funds from their employer totaled 347,244 dollars.

Find more about Tony Petrello: http://releasefact.com/2017/09/tony-petrello-helps-to-launch-the-neurological-research-institute-at-texas-childrens-hospital/