ISA's Board Explains Jorge Carrillo's Departure from the Position: His Case Affected the Company's Reputation
This is Ecopetrol and ISA's new initiative for the country's Universities. Photo: Courtesy: Ecopetrol
TL;DR
- ISA reported strong 2025 financial results, including an Ebitda of $8.7 trillion and a net profit of $2.4 trillion.
- The company's stock increased by 48% in 2025, with an average price of $28,700 in early 2026.
- Jorge Carrillo's appointment as president was nullified by the Council of State on February 27, 2026.
- ISA terminated Carrillo's contract unilaterally without just cause on March 16, 2026, citing legal advice to avoid litigation.
- Gabriel Jaime Melguizo Posada is serving as interim president while a replacement selection process is underway.
- Shareholders raised concerns about a significant drop in ISA's corporate reputation, falling from 27th to 48th on the Merco ranking between 2024 and 2025.
- The administration stated that reputational management is approached comprehensively, considering various indicators beyond Merco.
- The company is consulting the Superintendence of Societies regarding the public disclosure of committee minutes.