“Out, resign!”: Ecopetrol Assembly Ends with Boos Against Roa, $121 Dividends, and Union Fracture
The Ecopetrol General Shareholders' Meeting, held this Friday, March 27, concluded amidst a tense atmosphere marked by boos and strong questioning against its president, Ricardo Roa.
TL;DR
- Ecopetrol's General Shareholders' Meeting was tense, featuring boos and strong criticism against President Ricardo Roa.
- Minority shareholders protested Roa's leadership amid investigations into alleged influence peddling.
- Roa declared he will not resign, citing his clear conscience and ongoing legal processes.
- The assembly approved an increase in dividends to $121 per share, totaling nearly $4.9 trillion.
- The government urged Ecopetrol to pay $4 trillion in dividends by April 30.
- The Oil Workers' Union (USO) leadership called for Roa's removal, threatening national mobilization.
- A division within the USO emerged, with one member questioning the institutional basis for planned protests.
- The meeting concluded with an atmosphere of division within the company and uncertainty regarding its institutional future.