Updates from Ecopetrol S.A.'s Board of Directors

Rhea-AI Summary

Ecopetrol (NYSE: EC) reported board leadership changes after its November 27, 2025 meeting: Ángela María Robledo Gómez was elected Chairwoman and Álvaro Torres Macías was elected Vice Chairman. The company said Dr. Guillermo García Realpe submitted his resignation as Independent Director, to become effective December 12, 2025. The release reiterates Ecopetrol's scale in Colombia and internationally, noting it accounts for more than 60% of Colombia's hydrocarbon production and holds a 51.4% stake in ISA, giving it positions in energy transmission and related businesses.

Positive

• Board leadership updated on Nov 27, 2025
• 51.4% stake in ISA expands transmission and concessions exposure
• Controls >60% of Colombia hydrocarbon production

Negative

• Independent director resignation effective Dec 12, 2025 creates a board vacancy

News Market Reaction

-0.51%

1 alert

-0.51% News Effect

On the day this news was published, EC declined 0.51%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Employees: more than 19,000 Hydrocarbon production share: more than 60% ISA stake: 51.4% +2 more

5 metrics

Employees more than 19,000 Company-wide workforce mentioned in release

Hydrocarbon production share more than 60% Share of Colombia's hydrocarbon production

ISA stake 51.4% Ownership of ISA shares after acquisition

Board meeting date November 27, 2025 Date board elected new Chair and Vice Chairman

Resignation effective date December 12, 2025 Effective date of Independent Director resignation

Market Reality Check

Price: $12.25 Vol: Volume 1,781,226 is below...

normal vol

$12.25 Last Close

Volume Volume 1,781,226 is below the 20-day average of 2,346,613 ahead of this management update. normal

Technical Price at 9.81 is trading above the 200-day MA of 9.19, despite the management headline and a -1.9% daily move.

Peers on Argus

Pre-news, EC fell 1.9% while peers were mixed: CVE -0.84%, PBR -0.41%, YPF +0.11...

Pre-news, EC fell 1.9% while peers were mixed: CVE -0.84%, PBR -0.41%, YPF +0.11%, SU +0.07%, IMO +1.06%, suggesting stock-specific trading rather than a broad sector move.

Historical Context

5 past events · Latest: Nov 28 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 28	Renewables acquisition	Positive	+1.3%	Negotiations to acquire solar projects totaling up to 88.2 MWp.
Nov 28	Board leadership change	Neutral	-0.5%	Election of new Chair and Vice Chair; director resignation effective Dec 12, 2025.
Nov 28	Capex plan update	Neutral	-0.5%	Approval of COP 22–27 trillion 2026 investment plan with energy transition spend.
Nov 18	Management appointment	Neutral	-1.6%	Appointment of Alternate Legal and Commercial Representative by the board.
Nov 13	Q3 2025 earnings	Positive	+3.8%	3Q results with COP 29.8T revenue, COP 12.3T EBITDA and COP 2.6T net income.

Pattern Detected

Recent Ecopetrol headlines, including management and strategic updates, have generally produced modest, aligned price moves, with no strong pattern of selling into positive news.

Recent Company History

Over the last months, Ecopetrol has combined board-level adjustments with strategic and financial updates. A 3Q 2025 report showed revenues of COP 29.8 trillion and net income of COP 2.6 trillion, while a 2026 plan targeted COP 22–27 trillion in investments and 730–740 mboed output. Management releases on Apr 24, Aug 19, and Nov 18, 2025 similarly highlighted board reconfiguration alongside its dominant Colombian and regional footprint.

Market Pulse Summary

This announcement details board leadership changes and an upcoming independent director resignation,...

Analysis

This announcement details board leadership changes and an upcoming independent director resignation, without altering Ecopetrol’s broader strategic profile. The company remains Colombia’s largest, with more than 60% of national hydrocarbon production and a 51.4% stake in ISA supporting energy transmission and infrastructure exposure. In context of recent investment and earnings updates, investors may watch how ongoing governance adjustments interact with capital allocation and long-term transition plans.

Key Terms

hydrocarbon, forward-looking statements, u.s. securities exchange act of 1934

3 terms

hydrocarbon technical

"responsible for more than 60% of the hydrocarbon production of most transportation"

Hydrocarbon is a molecule made only of hydrogen and carbon atoms that forms the basis of fuels like oil, gasoline and natural gas as well as many industrial chemicals. Think of hydrocarbons as the raw energy “logs” and building blocks the economy burns or transforms into products; their abundance, quality and price directly affect company revenues, exploration value and investment risk, including exposure to regulatory and environmental costs.

forward-looking statements regulatory

"This release contains statements that may be considered forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

u.s. securities exchange act of 1934 regulatory

"and Section 21E of the U.S. Securities Exchange Act of 1934, as amended"

A U.S. federal law that acts as the rulebook for trading and reporting by public companies, securities exchanges and market participants; it created the agency that enforces those rules. It requires ongoing public disclosure of financial results and major events, sets standards to prevent fraud and insider trading, and governs how markets operate—think of it as the referee and scorekeeper that helps investors see reliable, timely information and trust the fairness of the market.

AI-generated analysis. Not financial advice.

BOGOTA, Colombia, Nov. 28, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company" and together with its subsidiaries, the "Ecopetrol Group") announces that, during its meeting held on November 27, 2025, the board of directors elected Ángela María Robledo Gómez as Chairwoman and Álvaro Torres Macías as Vice Chairman of the Board.

Additionally, Ecopetrol reports that, through a communication dated November 27, 2025, Dr. Guillermo García Realpe expressed his intention to resign from his position as Independent Director of the board for personal reasons. At the request of the other board members, his resignation will become effective as of December 12, 2025.

Ecopetrol extends its gratitude to Dr. Guillermo García Realpe for his leadership, integrity, valuable contributions, and his unwavering commitment and social vision. We wish him great success in the new personal and professional challenges he undertakes.

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/updates-from-ecopetrol-sas-board-of-directors-302628114.html

SOURCE Ecopetrol S.A.

FAQ

Who did Ecopetrol (EC) elect as Chairwoman and Vice Chairman on November 27, 2025?

Ecopetrol elected Ángela María Robledo Gómez as Chairwoman and Álvaro Torres Macías as Vice Chairman.

When does Dr. Guillermo García Realpe's resignation from Ecopetrol's board become effective (EC)?

His resignation as Independent Director will become effective on December 12, 2025.

What stake does Ecopetrol (EC) hold in ISA and what businesses does that affect?

Ecopetrol holds a 51.4% stake in ISA, providing positions in energy transmission, real-time systems, and road concessions.

How much of Colombia's hydrocarbon production is Ecopetrol (EC) responsible for?

Ecopetrol is responsible for more than 60% of Colombia's hydrocarbon production.

Will Ecopetrol (EC) make further announcements after the board change?

The company provided the effective resignation date and thanked the departing director; any additional governance updates would be announced by Ecopetrol as needed.