Ecopetrol informs the resignation of Vice President of Corporate Affairs and Secretary General

Rhea-AI Summary

Ecopetrol S.A. announced the resignation of Mónica Jiménez as Vice President of Corporate Affairs, effective August 18, 2022. She will pursue a new opportunity outside the company. María Paula Camacho, with 24 years at Ecopetrol, will serve as interim Vice President in her place. Ecopetrol is a leading integrated energy company in Colombia and the Americas, responsible for over 60% of the country's hydrocarbon production. The announcement emphasizes ongoing leadership changes but lacks immediate financial impacts or strategic shifts.

Positive

• Maria Paula Camacho's extensive experience of 24 years may bring stability as interim VP.

Negative

• Mónica Jiménez's departure could lead to uncertainty in corporate governance.

BOGOTÁ, Colombia, July 22, 2022 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, effective as of August 18, 2022, Mónica Jiménez, Vice President of Corporate Affairs and Secretary General, has decided to resign from the Company, to take on a new professional challenge with another company.

María Paula Camacho, current Legal Manager of New Business & Corporate, who has 24 years of experience within the Ecopetrol Group, will become the interim Vice President of Corporate Affairs and Secretary General, effective as of August 18, 2022.

The Company hereby thanks Monica Jiménez for her work and the achievements made for the Ecopetrol Group.

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy my and the industry, among other factors, and are consequently subject to change without prior notice.

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward -looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.

For more information, please contact: 

Head of Capital Markets
Tatiana Uribe Benninghoff
Email: investors@ecopetrol.com.co

Head of Corporate Communications
Mauricio Téllez
Email: mauricio.tellez@ecopetrol.com.co

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SOURCE Ecopetrol S.A.

FAQ

Who has resigned from Ecopetrol as of August 18, 2022?

Mónica Jiménez has resigned from her position as Vice President of Corporate Affairs at Ecopetrol.

Who will replace Mónica Jiménez at Ecopetrol?

María Paula Camacho will serve as the interim Vice President of Corporate Affairs.

What is Ecopetrol's role in Colombia's energy sector?

Ecopetrol is responsible for over 60% of Colombia's hydrocarbon production and is a major player in the energy sector.

What impact does the management change have on Ecopetrol?

The interim appointment of María Paula Camacho could provide continuity, though Mónica Jiménez's departure introduces some uncertainty.