Ecopetrol Announces Employee Elected to the Board of Directors on Slate Proposed by Government of Colombia as a Result of Voting Process

Rhea-AI Summary

Ecopetrol (NYSE: EC) announced on January 16, 2026 that employees elected Cesar Eduardo Loza Arenas as their candidate to the Board of Directors under the company's Articles of Association.

Mr. Loza is the seventh director on the slate proposed by the Government of Colombia; the formalization of the full government-proposed slate remains subject to completion of certain corporate procedures. The release reiterates Ecopetrol's scale: more than 19,000 employees, responsibility for over 60% of Colombia's hydrocarbon production, and ownership of 51.4% of ISA shares, which expands its presence in energy transmission and related businesses across Latin America.

Positive

• Employee-elected board member: Cesar Eduardo Loza Arenas
• Company controls 51.4% of ISA shares expanding transmission and regional operations
• Workforce size: more than 19,000 employees

Negative

• Full government-proposed board slate still pending completion of corporate procedures

News Market Reaction – EC

+4.88%

1 alert

+4.88% News Effect

On the day this news was published, EC gained 4.88%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOGOTA, Colombia, Jan. 16, 2026 /PRNewswire/ -- ECOPETROL S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol") reports that, in accordance with its Articles of Association, Ecopetrol's employees have elected Mr. Cesar Eduardo Loza Arenas as their candidate to the Board of Directors. He is the seventh director on the slate of nominees proposed by the Government of Colombia.

The formalization of the complete slate of nominees proposed by the Government of Colombia remains subject to the completion of certain corporate procedures. 

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
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-employee-elected-to-the-board-of-directors-on-slate-proposed-by-government-of-colombia-as-a-result-of-voting-process-302663454.html

SOURCE Ecopetrol S.A.

FAQ

Who was elected by employees to Ecopetrol's Board of Directors on January 16, 2026 (NYSE: EC)?

Cesar Eduardo Loza Arenas was elected by employees as their candidate to the Board of Directors.

What does it mean that Cesar Eduardo Loza Arenas is the seventh director on the government-proposed slate for Ecopetrol (EC)?

He is the seventh director listed on the slate proposed by the Government of Colombia; the full slate awaits completion of corporate procedures.

How large is Ecopetrol's workforce and domestic hydrocarbon role mentioned in the January 16, 2026 release?

Ecopetrol has more than 19,000 employees and is responsible for over 60% of Colombia's hydrocarbon production.

What stake does Ecopetrol hold in ISA and what activities does that include according to the announcement?

Ecopetrol owns 51.4% of ISA shares, giving it participation in energy transmission, XM real-time systems, and the Barranquilla–Cartagena highway concession.

Is the government-proposed slate for Ecopetrol's Board finalized after the employee election?

No; the release states the formalization of the full government-proposed slate is still subject to completion of corporate procedures.