Ecopetrol Announces Changes in the Board of Directors

Rhea-AI Summary

Ecopetrol (NYSE: EC) announced a change in its Board of Directors, with Dr. Edwin Palma Egea's resignation effective March 6, 2025. The Board appointed Ms. Angela María Robledo Gómez to replace Dr. Palma as a member of the Business Committee.

The updated Business Committee will consist of: Mónica de Greiff Lindo (Chairperson), Angela María Robledo Gómez, Álvaro Torres Macías, Gonzalo Hernández Jiménez, and Guillermo García Realpe.

Ecopetrol, Colombia's largest company, controls over 60% of the country's hydrocarbon production and leads in petrochemicals and gas distribution. Through its 51.4% stake in ISA, the company has expanded into energy transmission and infrastructure across Latin America, while maintaining international operations in strategic basins across the Americas, including the US Permian basin and Gulf of Mexico, Brazil, and Mexico.

Positive

• Maintains dominant 60%+ market share in Colombian hydrocarbon production
• Diversified operations across Americas through ISA stake
• Strong presence in strategic international basins

Negative

• None.

BOGOTA, Colombia, March 5, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announces the resignation of Dr. Edwin Palma Egea, which was submitted today to the Board of Directors and effective as of March 6, 2025.

As a result, the Board of Directors appointed Ms. Angela María Robledo Gómez to replace Dr. Palma as a member of the Business Committee during its session on March 5, 2025. As of March 6, 2025, the Business Committee will be composed of the following members of the Board of Directors:

• Mónica de Greiff Lindo (Chairperson)
• Angela María Robledo Gómez
• Álvaro Torres Macías
• Gonzalo Hernández Jiménez
• Guillermo García Realpe

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/ecopetrol-announces-changes-in-the-board-of-directors-302393966.html

SOURCE Ecopetrol S.A.

FAQ

When will the Board of Directors change at Ecopetrol (EC) take effect?

The change takes effect on March 6, 2025, following Dr. Edwin Palma Egea's resignation.

Who are the new members of Ecopetrol's Business Committee as of March 2025?

The Committee includes Mónica de Greiff Lindo (Chair), Angela María Robledo Gómez, Álvaro Torres Macías, Gonzalo Hernández Jiménez, and Guillermo García Realpe.

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

Ecopetrol controls more than 60% of Colombia's hydrocarbon production.

What is Ecopetrol's (EC) ownership stake in ISA?

Ecopetrol owns 51.4% of ISA's shares.

In which international markets does Ecopetrol (EC) operate?

Ecopetrol operates in the US (Permian basin and Gulf of Mexico), Brazil, and Mexico, with additional presence through ISA in Brazil, Chile, Peru, and Bolivia.