Minority shareholders nominate candidate to integrate Ecopetrol's Board of Directors

Rhea-AI Summary

Ecopetrol S.A. announces the nomination of Dr. Juan José Echavarría Soto as a candidate for the Board of Directors. The company, a major energy player in Colombia and the American continent, boasts a significant market presence and diverse operations. Ecopetrol's recent acquisition of ISA's shares further strengthens its position in energy transmission and infrastructure development.

BOGOTA, Colombia, March 11, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs in accordance with the subscription of the Declaration of the Nation as majority shareholder and in accordance with the established procedure, the representatives of the minority shareholders, formally informed the Company that they had agreed to nominate Dr. Juan José Echavarría Soto as their candidate for Board of Directors.

The full text of the document signed by the minority shareholders can be consulted at the following link:

https://files.ecopetrol.com.co/web/esp/aga2024/postulado-accionistas-minoritarios.pdf  

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 forward-looking statements which are based on current expectations and assumptions about future events and which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "estimate", "intend", "continue", or "believe" or other words of similar import, and which forward-looking statements also include certain projections, forecasts, budgets and other estimates. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Ecopetrol's control. Ecopetrol does not undertake any obligation to provide any additional information or to update this press release or to correct any inaccuracies that may become apparent, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

For more information, please contact:

Head of Capital Markets (a)
Daniel Hurtado Mendoza
Email: investors@ecopetrol.com.co 

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

View original content:https://www.prnewswire.com/news-releases/minority-shareholders-nominate-candidate-to-integrate-ecopetrols-board-of-directors-302086031.html

SOURCE Ecopetrol S.A.

FAQ

Who has been nominated as a candidate for the Board of Directors at Ecopetrol S.A.?

Dr. Juan José Echavarría Soto has been nominated as a candidate for the Board of Directors at Ecopetrol S.A.

What is Ecopetrol's market presence in Colombia?

Ecopetrol is the largest company in Colombia and accounts for over 60% of hydrocarbon production in the country.

In which countries does Ecopetrol have operations outside Colombia?

Ecopetrol has operations in the United States, Brazil, Mexico, Brazil, Chile, Peru, and Bolivia.

What recent acquisition has Ecopetrol made?

Ecopetrol recently acquired 51.4% of ISA's shares, strengthening its position in energy transmission and infrastructure development.