2024-03-23 05:03:45
For nearly 10 hours, participants in the Ecopetrol shareholders meeting deliberated and discussed around 18 points that were included in the agenda, one of which was the election of a new board of directors.
Prior to the meeting of all investors in the oil company, held this Friday, March 22, the plan proposed by the government had been criticized, not to mention that it was returned on three occasions, by the company’s previous management team, which , headed by Juan José Echavarría, as president of the Ecopetrol Governing Committee, upheld the power they had to veto the plan. “Seven of the 9 members of the board sent a letter to the Minister of Finance, in which we expressed serious doubts that this group (the new members of the management team) has the necessary characteristics to comply with the policy that we are charged with in the board,” he said.
However, the Government, as the majority shareholder, with 88.5% of the shares, dominated and the board was made up of Mónica de Greiff, Ángela María Robledo, Lilia Tatiana Roa, Edwin Palma, Guillermo García Realpe, Gonzalo Hernández, Álvaro Torres, Luis Alberto Zuleta and Juan José Echavarría (the last two remain from the previous board). Likewise, de Greiff and Hernández continue now, after having been nominated by the Government some time ago.
Ricardo Roa President of Ecopetrol | Photo: Guillermo Torres
Statutory reform
The proposal to update the corporate purpose of Ecopetrol was also submitted to the assembly, so that it can enter into other businesses related to the energy transition. In addition, the idea of endorsing an authorization to reform other articles of the company’s Statute was put to the assembly members’ consideration.
In this way, now the corporate purpose of the oil company will not only be hydrocarbons, but the company will be able to carry out the research, development and commercialization of conventional and alternative sources of energy; in addition to producing biofuels, in addition to carrying out any related, complementary or useful activity for the development of the previous ones.”
Voices for and against were heard, while the quarrels were fueled, among those who warned that the door was left open for challenges, such as those who said that given the fact that “the crank is running out, now they will resort to legislation,” he said. a shareholder who intervened.
Who are the new managers?
Angela María Robledo Gómez
Psychologist, master in political science and international relations. She was a representative to the Chamber in the Congress of the Republic. She was director of the Department of Social Welfare in Bogotá during the Antanas Mockus Mayor’s Office.
Lilia Tatiana Roa Avendaño
Petroleum Engineer, Master in Latin American Studies. She currently serves as Deputy Minister of the Environment. She was Coordinator of the Energy and Climate Justice Area of Censat Agua Viva – Friends of the Earth Colombia and held other positions in the same entity. She was a consultant at the Vincent Price Art Museum, Rosa Luxemburgo Foundation, Heinrich Boll Foundation, Pax Christi, Ecofondo, Transnacional Institute and the Mining and Energy Planning Unit – UPME.
General assembly of shareholders of Ecopetrol | Photo: Guillermo Torres Reina
Monica Greiff Lindo
Member of the board of Ecopetrol since October 2022. She was a non-independent member until October 2023. Doctor in Jurisprudence and specialist in Administrative Law. She was ambassador to Kenya and permanent representative to the United Nations for Environment and Habitat. She chaired the Bogotá Chamber of Commerce and the Bogotá Energy Group, among other positions. Her time as legal and public affairs vice president of Shell Colombia stands out. She is a member of the board of directors of EPS Sanitas SAS, Lagos de Aurea, Aris Mining Corp., located in Canada, and One Young World located in London.
Gonzalo Hernandez Jimenez
Non-independent member of the board of directors of Ecopetrol since October 2022. He has a PhD in Economics. He was technical vice minister of the Treasury; member of the boards of directors of the Bicentenario Group, and of the Administrator of the Resources of the General System of Social Security in Health (ADRES).
He directed the economics and research department of the Javeriana University and is part of national and international boards of directors.
Ricardo Roa President of Ecopetrol | Photo: Guillermo Torres
Luis Alberto Zuleta Jaramillo
Independent member of the board since March 2023 and Chairman of the Audit and Risk Committee. Economist with a master’s degree in economic development sciences. He is a consultant on economic and financial issues, advisor to the Audit Committee of Bancolombia, Banco Agromercantil-Guatemala and Banistmo-Panamá.
Associate researcher at Fedesarrollo and university professor. He was the first director of the Financial Institutions Guarantee Fund, deputy development manager of the Bank of the Republic, Planning Director of Antioquia, among many other managerial experiences.
Edwin Palma Egea
He worked at Ecopetrol and led the company’s union, the USO. Lawyer, specialist in labor law; in constitutional law and master’s degree in labor law. He is vice minister of Labor. He is a university professor.
Guillermo García Realpe
Lawyer and specialist in socioeconomic sciences. He was a senator of the Republic, advisor to the DNP and planning director of Nariño, among others. He serves as an advisor and consultant on environmental and regional development issues.
General assembly of shareholders of Ecopetrol | Photo: Guillermo Torres Reina
Álvaro Torres Macias
Electrical engineer, with a master’s degree in electrical energy engineering and computer and systems engineering. He has a doctorate in electrical engineering. He serves as CEO of Electryon Power Inc. in Canada. He has managed multiple companies and served on boards of directors.
Juan José Echavarría Soto
Independent member of the board of directors of Ecopetrol SA since March 2023. He is President of the Governance Committee, since November 2023. Administrative engineer, he completed a master’s degree in economics in Boston and a doctorate in economics at the University of Oxford.
He was manager and member of the board of directors of Banco de la República, consultant to the Development Bank of Latin America (CAF), Inter-American Development Bank (IDB), the Ministry of Commerce and Finagro, Director of the Mission for the Restructuring of Coffee in Colombia, Executive Director and researcher of Fedesarrollo, Plenipotentiary Minister of the Colombian Mission to the Organization of American States (OAS), among a long list.
Juan José Echavarría Independent member of the Board of Directors of. Ecopetrol SA | Photo: Guillermo Torres
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