Ecopetrol board ratified Ricardo Roa as president despite pressure from USO and shareholders
Ecopetrol's board of directors ratified Ricardo Roa as president of the company, after evaluating several requests related to his continuity in office amid ongoing investigations.
TL;DR
- Ecopetrol's board ratified Ricardo Roa as president.
- The decision was made despite requests for his removal from the USO union, minority shareholders, and a former Hocol president.
- The board conducted a "judicious" analysis, consulting internal and external advisors on risks associated with the investigations.
- The board found no breaches of regulations or contracts related to Roa's situation.
- Ecopetrol committed to maintaining constructive dialogue with stakeholders and upholding transparency and corporate governance standards.