Ecopetrol S.A. Announces Changes in the Senior Management

Rhea-AI Summary

Ecopetrol S.A. (NYSE: EC) has announced significant changes in its senior management. The Board of Directors has appointed David Alfredo Riaño Alarcón, Camilo Barco Muñoz, and Cristina Toro Restrepo as alternate legal and commercial representatives. Additionally, Nicolás Azcuénaga Ramírez will be leaving his position as Corporate Vice President of Strategy and New Businesses on September 15, 2024. Julián Lemos Valero will take over as acting Corporate Vice President of Strategy and New Businesses from September 16, 2024.

Ecopetrol, Colombia's largest company, is a major integrated energy player in the Americas, with operations spanning hydrocarbon production, transportation, refining, and petrochemicals. The company also holds a significant stake in ISA, expanding its presence in energy transmission and infrastructure across South America.

Positive

• Appointment of experienced executives to key positions
• Smooth transition plan for Corporate Vice President of Strategy and New Businesses role
• Diversified operations across energy and infrastructure sectors
• Leading market position in Colombia's hydrocarbon industry

Negative

• Departure of Nicolás Azcuénaga Ramírez, a senior executive with over five years of experience at the company

BOGOTA, Colombia, Sept. 3, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") announces that the Board of Directors made the following appointments on August 30, 2024:

• David Alfredo Riaño Alarcón, Executive Vice President of Energy Transition, as legal and alternate commercial representative.
  
  
• Camilo Barco Muñoz, Corporate Vice President of Finance and Sustainable Value, as alternate legal and commercial representative.
  
  
• Cristina Toro Restrepo, Corporate Legal Vice President, as alternate legal and commercial representative.

Ecopetrol also announces that Nicolás Azcuénaga Ramírez, whose current position is Corporate Vice President of Strategy and New Businesses, will hold that position until September 15, 2024, terminating his contract by mutual agreement, after more than five years working at the Company. As his replacement, the Board of Directors appointed Julián Lemos Valero, Mergers and Acquisitions Manager, as acting Corporate Vice President of Strategy and New Businesses, effective September 16, 2024 and until the appointment of the position is made.

Ecopetrol S.A. thanks Nicolás for his valuable work. His contributions to the achievements were essential for the strategy consolidation. Ecopetrol S.A. wishes him great success in his next endeavors.

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 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, 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.

For more information, please contact:

Head of Capital Markets (a)
Lina María Contreras Mora
Email: investors@ecopetrol.com.co

Head of Corporate Communications
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co

 

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SOURCE Ecopetrol S.A.

FAQ

Who are the new alternate legal and commercial representatives appointed by Ecopetrol (EC)?

Ecopetrol (EC) has appointed David Alfredo Riaño Alarcón, Camilo Barco Muñoz, and Cristina Toro Restrepo as alternate legal and commercial representatives.

When will Nicolás Azcuénaga Ramírez leave his position at Ecopetrol (EC)?

Nicolás Azcuénaga Ramírez will leave his position as Corporate Vice President of Strategy and New Businesses at Ecopetrol (EC) on September 15, 2024.

Who will replace Nicolás Azcuénaga Ramírez at Ecopetrol (EC)?

Julián Lemos Valero, currently the Mergers and Acquisitions Manager, will serve as acting Corporate Vice President of Strategy and New Businesses at Ecopetrol (EC) from September 16, 2024.

What percentage of Colombia's hydrocarbon production does Ecopetrol (EC) account for?

Ecopetrol (EC) is responsible for more than 60% of Colombia's hydrocarbon production.