Nabors Industries has 1,200 employees within Houston, Texas. When many of those employees decided to help with the pain-staking recovery efforts from Hurricane Harvey, their CEO Tony Petrello was standing right by their side in support.
Hurricane Harvey left a trail of destruction in its path causing the worst damage the state has seen since 1970. Texas Governor Greg Abbot determined from the very beginning that the storm was going to be a long recovery period for the state. Because of the extensive flooding in the area, there was a reduction of resources as well as delays for food supplies and other necessities for families. The recovery efforts were going to take more than the typical agencies that were already sent into Texas.
Tony helped the employees of Nabors Industries begin a relief fund for the community to help with essential needs. Together with Tony, the employees were able to raise $173,000 which included a dollar for dollar match from their CEO. Tony saw the project implemented by Nabor Industries employees as an occasion to further his passion towards helping others as well.
Although many of the employees were suffering from the effects of the Hurricane Harvey themselves, they wanted to do more to help with the recovery efforts.
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In an unfrequented act of compassion by a CEO of any company, Tony Petrello arraigned for the employees to receive compensation for service completed with a recovery project to help their Houston community. Since giving back to the community is an integral part of the Nabor Industries presence within Houston, Texas, it was fitting that Tony would support the project with employees being paid. And, it was also the act of kindness that is typically done by the Newark, New Jersey native.
Although Tony did not grow up in Houston, Texas, his roots are established within the community through philanthropy service. Tony supported the community when there was a need for a research center for neurological diseases. Through his personal donation of $7 million, the Jan and Dan Duncan Institute was established. The institute is now developing ground-breaking research and testing for many neurological diseases.
Tony discovered the need for a research center after his eight-year old daughter Carena was born with cerebral palsy. Tony and his wife Cynthia were astounded to find the limited research and quickly sprang into action to support families in similar situations as they were. Tony also supports the Museum of Fine Arts in Houston which he donated $1.85 million.
Find more about Anthony Petrello: https://analystoffinance.com/2017/10/tony-petrellos-nabors-industries-will-purchase-tesco-this-year/