Boos at Ecopetrol Assembly over Ricardo Roa's Management and Debate on His Continuity: Will He Remain in Office?
Boos at the Ecopetrol Assembly Photo: Nestor Gómez, El Tiempo
TL;DR
- Shareholders booed President Ricardo Roa Barragán at the Ecopetrol General Assembly, demanding his resignation.
- Criticisms focused on the company's financial performance, including a 31% drop in gross profit per barrel and increased debt.
- A proposal to debate Roa's continued role in the company was not approved.
- The state's 88.49% ownership limits the influence of private investors on board decisions.
- The Board of Directors, led by Angela María Robledo, defended Roa, citing due diligence and the presumption of innocence.
- Roa defended Ecopetrol's financial results, comparing them favorably to national and international peers, and explained the company's debt levels in context.
- Union Sindical Obrera (USO) has also called for Roa's departure, citing reputational risks.