Ecopetrol
Petro demands resignation at Ecopetrol over corruption case
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President Gustavo Petro demanded the resignation of Ecopetrol's vice president for the Andean region, Bernardo Forero Duarte, amid investigations into illicit enrichment. This request occurs alongside changes in the company's board of directors and the CNE's sanction on the 2022 presidential campaign, which impacts current Ecopetrol president Ricardo Roa. Petro also distanced himself from the USO's stance on the Permian basin business.
Banco de Bogotá's Shareholders' Assembly confirmed Juan Carlos Echeverry Garzón as its new president starting May 6, replacing César Prado. Echeverry, with extensive experience in public and private sectors, takes over while Jorge Castaño Gutiérrez serves as interim president.
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Ecopetrol shares dropped 4.96% to $2,680 on the Colombia Stock Exchange on March 24, as the board debates Ricardo Roa's future as president after his imputation for alleged influence peddling. The USO union threatened a national strike if he is not removed. Analysts criticize the timing amid high oil prices.