Colombia ministry requests Ecopetrol meeting on board seats 7, 8 and 9

  • Ministry of Finance and Public Credit requested an extraordinary Ecopetrol shareholders’ meeting.
  • Seats 7, 8 and 9 went to César Eduardo Loza Arenas, Ricardo Rodríguez Yee and Luis Felipe Henao Cardona.
  • Ecopetrol completed corporate procedures before submitting the slate to shareholders.

Ecopetrol said the Ministry of Finance and Public Credit, acting for the Nation as the company’s majority shareholder, requested an extraordinary shareholders’ meeting to consider and decide on the Board of Directors slate. César Eduardo Loza Arenas was nominated for seat 7 after previously being elected by Ecopetrol employees. Representatives of the hydrocarbon-producing departments where Ecopetrol operates reaffirmed Ricardo Rodríguez Yee for seat 8, while representatives of minority shareholders with the largest equity interests reaffirmed Luis Felipe Henao Cardona for seat 9. The company said all applicable corporate procedures have been completed and that the slate will be presented at the forthcoming meeting, whose notice was published through the same channel. Ecopetrol, Colombia’s largest company, has more than 19,000 employees and operates across oil and gas, refining, logistics, petrochemicals, gas distribution, power transmission, road concessions and telecommunications. The release also warns that forward-looking statements (statements about uncertain future results) are subject to risks involving commodity prices, operations, regulation, exchange rates, competitiveness and Colombia’s economy, among other factors.

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