Ecopetrol Announces Minority Shareholders' Nominee to the Board of Directors on Slate Proposed by Government of Colombia

Rhea-AI Summary

Ecopetrol (NYSE: EC) said minority shareholders nominated Luis Felipe Henao Cardona as their candidate for election as the ninth director on the slate proposed by the Government of Colombia on Jan. 30, 2026.

The release highlights Ecopetrol's scale: >19,000 employees, >60% of Colombia's hydrocarbon production, and its 51.4% acquisition of ISA shares expanding energy transmission and infrastructure operations regionally.

Positive

• Continuity in minority representation: Luis Felipe Henao Cardona nominated again as minority shareholders' candidate
• Strategic asset control: Acquisition of 51.4% of ISA shares expands energy transmission and infrastructure footprint
• Market leadership: Responsible for >60% of Colombia's hydrocarbon production

Negative

• Government-proposed slate: Minority nominee to be elected on a slate proposed by the Government of Colombia, highlighting concentrated government influence
• Forward-looking risks noted: Company lists material risks including oil & gas price volatility, exchange rates, and access to capital

News Market Reaction

-1.57%

1 alert

-1.57% News Effect

On the day this news was published, EC declined 1.57%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOGOTA, Colombia, Jan. 30, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that the minority shareholders have once again nominated Mr. Luis Felipe Henao Cardona as their candidate to the Board of Directors. The minority shareholders' nominee will be submitted for election by the shareholders as the ninth director on the slate of nominees proposed by the Government of Colombia.

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 Department
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 did minority shareholders nominate to the Ecopetrol (EC) board on January 30, 2026?

Minority shareholders nominated Luis Felipe Henao Cardona as their candidate. According to the company, he will be submitted for election as the ninth director on the slate proposed by the Government of Colombia.

What position will Luis Felipe Henao Cardona hold if elected to Ecopetrol (EC)'s board?

If elected, he will serve as the ninth director on the board. According to the company, the nomination is part of the slate proposed by the Government of Colombia for shareholder election.

How does Ecopetrol (EC) describe its scale and operations in the January 30, 2026 release?

Ecopetrol highlights >19,000 employees and responsibility for >60% of Colombia's hydrocarbon production. According to the company, it also holds regional assets across transmission, refining, petrochemicals, and international basins.

What significance does the 51.4% acquisition of ISA shares have for Ecopetrol (EC)?

The 51.4% stake gives Ecopetrol a controlling position in ISA, expanding its energy transmission and infrastructure reach. According to the company, this includes participation in transmission, XM systems, and regional concessions.

What risks did Ecopetrol (EC) highlight in the January 30, 2026 announcement?

The company warned of forward-looking risks including oil and gas price volatility, exchange-rate shifts, and access to capital. According to the company, these factors could cause actual results to differ materially from projections.