Oil Company Ecopetrol Elected Its New Board of Directors

The newly elected board of directors for Ecopetrol, Colombia's largest oil company, was confirmed during an extraordinary shareholders' meeting on Tuesday, September 15th. The government of President Abelardo de la Espriella presented the slate of candidates, which included both returning members and new appointees. The 92% attendance reflected a strong showing by shareholders.

The new board comprises six independent members, with three women, three financial experts, and three current Ecopetrol employees. Retaining their positions are Cesar Loza, who represents workers, Luis Felipe Henao, who speaks for minority shareholders, and Rodrigo Rodriguez Yee, who advocates for the interests of hydrocarbon-producing regions.

The incoming members include Carlos Augusto Suarez, a political communications strategist for the president; civil engineer Jose Camilo Manzur Jattin; Jorge Alberto Jaller Jaramillo, with extensive experience at Grupo Exito; lawyer Ludmila del Carmen Vergara, with over 25 years of public, financial, infrastructure, and construction sector experience; lawyer Betzy Patricia Martinez, also with over 25 years of public and private sector experience; and lawyer Claudia Margarita Lafaurie Taboada, with over 20 years of energy sector experience.

The board's mandate includes defining the direction of Ecopetrol's hydrocarbon business, advancing the energy transition, and addressing financial control, audits, and shareholder confidence. They will also exercise corporate governance functions, oversee risks, and represent various sectors within Ecopetrol's shareholding structure.