Ecopetrol Announces Changes in Senior Management

Rhea-AI Summary

Ecopetrol (NYSE: EC) has appointed Rodolfo Mario García Paredes as Acting Corporate Compliance Director and Interim Anti-Money Laundering Compliance Officer, effective June 4, 2025. García Paredes, a public management and institutions attorney, brings over 25 years of experience within Ecopetrol's Corporate Legal Vice Presidency. He previously served as Legal Manager of Hydrocarbons and held various senior positions including Legal Advisory Manager for Exploration and Acting Corporate Legal Vice President. Ecopetrol, Colombia's largest company, controls over 60% of the country's hydrocarbon production and holds significant positions in petrochemicals and gas distribution. The company has expanded internationally through its 51.4% stake in ISA and operations in the US Permian basin, Gulf of Mexico, Brazil, and Mexico.

Positive

• Appointment of experienced internal candidate with 25+ years at Ecopetrol's Legal Vice Presidency
• Smooth transition with internal promotion maintaining operational continuity
• Strong market position with 60% control of Colombia's hydrocarbon production
• Diversified operations across Americas including US Permian basin and Gulf of Mexico

Negative

• Interim nature of the appointment creates uncertainty about permanent leadership
• Potential compliance and regulatory risks during transition period

BOGOTA D.C., Colombia, June 4, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces that the Board of Directors appointed Rodolfo Mario García Paredes as Acting Corporate Compliance Director and Interim Anti-Money Laundering Compliance Officer at its June 3, 2025 meeting, effective as of June 4, 2025. Mr. García Paredes, who has most recently served as Legal Manager of Hydrocarbons, is an attorney specializing in public management and institutions. For more than 25 years he has belonged to Ecopetrol's Corporate Legal Vice Presidency, where he has held senior positions, including Legal Advisory Manager for Exploration, Legal Manager for New Business, Corporate Affairs, and Hydrocarbons. Moreover, he has served as Acting Corporate Legal Vice President and General Secretary for Ecopetrol on several occasions.

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:

Head of Capital Markets
Carolina Tovar Aragón
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

Who is the new Acting Corporate Compliance Director at Ecopetrol (NYSE: EC)?

Rodolfo Mario García Paredes has been appointed as Acting Corporate Compliance Director and Interim Anti-Money Laundering Compliance Officer at Ecopetrol, effective June 4, 2025.

What is Rodolfo García Paredes' experience at Ecopetrol?

García Paredes has over 25 years of experience in Ecopetrol's Corporate Legal Vice Presidency, serving as Legal Manager of Hydrocarbons, Legal Advisory Manager for Exploration, and Acting Corporate Legal Vice President.

What percentage of Colombia's hydrocarbon production does Ecopetrol control?

Ecopetrol is responsible for more than 60% of Colombia's hydrocarbon production and controls most transportation, logistics, and hydrocarbon refining systems.

What international operations does Ecopetrol have?

Ecopetrol operates in the US Permian basin and Gulf of Mexico, Brazil, and Mexico, and through ISA, has positions in power transmission in Brazil, Chile, Peru, and Bolivia.

What is Ecopetrol's ownership stake in ISA?

Ecopetrol owns 51.4% of ISA's shares, which gives it participation in energy transmission, real-time systems management, and the Barranquilla-Cartagena coastal highway concession.