Decisions of the Board of Directors of Ecopetrol

Rhea-AI Summary

Ecopetrol (NYSE:EC) announced Board decisions regarding its Chief Executive Officer, Ricardo Roa Barragán. The Board authorized postponing the start of his previously granted 30-day unpaid leave.

Due to a 30-day medical leave beginning May 26, 2026 and remaining vacation, the unpaid leave will now run from June 27, 2026 for 30 days. Juan Carlos Hurtado Parra remains acting CEO, and Ecopetrol states it will continue operating under its business strategy and strengthening its international portfolio.

Positive

• Clear timeline for CEO medical and unpaid leave through at least late July 2026
• Board confirms continuity by maintaining Juan Carlos Hurtado Parra as acting CEO
• Company reiterates focus on executing business strategy and strengthening international portfolio

Negative

• CEO absent for consecutive 30-day medical leave plus 30-day unpaid leave
• Extended interim leadership period may add governance and execution uncertainty

News Market Reaction – EC

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In the May 28 session, EC declined 1.01%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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BOGOTÁ, Colombia, May 28, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL) (NYSE: EC) (the "Company") announces that its Board of Directors, at its universal meeting held today, authorized the postponement of the start date of the unpaid leave granted to the Company's Chief Executive Officer, Ricardo Roa Barragán, which had been disclosed on April 6, 2026. This decision was made considering a duly reported medical leave notified on May 26, 2026, for a period of 30 calendar days.

The unpaid leave, which was originally scheduled to begin on May 28, 2026, for a period of 30 calendar days, will now commence upon completion of the medical leave and the remaining vacation period, that is, on June 27, 2026, and will extend for 30 calendar days from that date.

Accordingly, the Board of Directors decided to maintain the appointment of Juan Carlos Hurtado Parra, First Alternate to the Chief Executive Officer, as acting Chief Executive Officer.

Ecopetrol will continue to conduct its operations in accordance with its business strategy, strengthening its international portfolio.

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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 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 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:

Investor Relations Office
Email: investors@ecopetrol.com.co  

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

 

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SOURCE Ecopetrol S.A.

FAQ

What change did Ecopetrol (NYSE:EC) announce about its CEO's unpaid leave on May 28, 2026?

Ecopetrol announced that its CEO’s previously scheduled 30-day unpaid leave has been postponed. According to Ecopetrol, the unpaid leave will now start on June 27, 2026, following a 30-day medical leave and remaining vacation period.

When will Ecopetrol CEO Ricardo Roa Barragán begin his unpaid leave and for how long?

Ricardo Roa Barragán will begin his unpaid leave on June 27, 2026, for 30 calendar days. According to Ecopetrol, this new date follows a 30-day medical leave starting May 26, 2026, plus his remaining vacation period.

Who is acting CEO of Ecopetrol (EC) during Ricardo Roa Barragán's leave periods?

Juan Carlos Hurtado Parra, First Alternate to the CEO, remains acting Chief Executive Officer. According to Ecopetrol, the Board decided to maintain his appointment while Ricardo Roa Barragán is on medical leave, vacation, and subsequent unpaid leave.

How long is Ecopetrol CEO Ricardo Roa Barragán's medical leave and when did it start?

Ricardo Roa Barragán’s medical leave is 30 calendar days starting May 26, 2026. According to Ecopetrol, this medical leave prompted the Board to postpone his unpaid leave, now set to commence after the medical and vacation periods.

Will Ecopetrol's operations be affected by the CEO's medical and unpaid leave in 2026?

Ecopetrol states it will continue operations in line with its business strategy despite the CEO’s leave. According to Ecopetrol, the company remains focused on strengthening its international portfolio while acting CEO Juan Carlos Hurtado Parra leads.