President-elect Abelardo de la Espriella named Jorge Mario Velásquez, former head of Grupo Argos, to Ecopetrol’s board of directors. Vice president-elect José Manuel Restrepo stressed the need to restructure the company.
De la Espriella made the announcement on July 24 during the presentation of an alliance with CAF. Velásquez, who left the presidency of Grupo Argos on March 31 after 42 years, will join the board of the country’s main oil company.
Restrepo said Ecopetrol must be led by the most suitable professionals. “This means handing over to the best that company that must be a source of national pride,” he said.
The incoming government wants the oil firm to advance exploration contracts to stabilize energy security. Restrepo noted that management changes are needed to address operational, financial and corporate governance challenges.
