
BOGOTA, Colombia, February 1, 2025 — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that, in accordance with its “Energy that Transforms” 2040 strategy – aiming for regional leadership in energy diversification – its Board of Directors approved structural changes on January 31, 2025. These changes, part of a broader effort to create a more streamlined and efficient organization, aim to strengthen business line management, maintain competitive returns, and separate management and execution functions. The changes include:
- The Corporate Legal Vice Presidency, now incorporating the General Secretariat, is renamed the Corporate Legal Vice Presidency and General Secretariat.
- María Cristina Toro Restrepo has been appointed Corporate Legal Vice President and General Secretary, reporting directly to the President.
- Rafael Ernesto Guzmán Ayala has been named Executive Vice President of Hydrocarbons, continuing to report directly to the President.
- The Upstream Vice Presidency is now the Exploration, Development, and Production Vice Presidency, under the leadership of Juan Carlos Hurtado Parra, reporting to the Executive Vice President of Hydrocarbons.
Ecopetrol is Colombia’s largest company and a major integrated energy company in the Americas, employing over 18,000 people. In Colombia, it accounts for over 60% of hydrocarbon production and plays a key role in transportation, logistics, and refining, as well as holding leading positions in petrochemicals and gas distribution. Through its 51.4% stake in ISA, it’s involved in energy transmission, real-time systems management (XM), and the Barranquilla – Cartagena coastal highway concession. Internationally, Ecopetrol has holdings in key basins across the Americas, including drilling and exploration in the United States (Permian Basin and Gulf of Mexico), Brazil, and Mexico. Via ISA and its subsidiaries, Ecopetrol holds significant positions in power transmission in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.
This release includes forward-looking statements (as defined under Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934). These statements, whether in this release, future filings, press releases, or oral communications, involve risks and uncertainties. These include, but are not limited to, the Company’s growth prospects and ongoing access to capital to fund its business plan. Factors that could materially affect results include oil and gas market prices, exploration and production activities, market conditions, regulations, exchange rates, the Company’s competitiveness, and the performance of Colombia’s economy and industry. We do not undertake to update these forward-looking statements.
For more information, please contact:
Head of Capital Markets (A)
Cristhian Vicente Prado Castillo
Email:
Head of Corporate Communications (Colombia)
Marcela Ulloa
Email:
SOURCE Ecopetrol S.A.
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