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Dramatic illustration of Ecopetrol board deliberating CEO Ricardo Roa's fate amid union protests and probes.
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Ecopetrol board to decide Ricardo Roa's future on March 30

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Ecopetrol's board will meet on March 30 to decide if Ricardo Roa remains CEO amid judicial probes and pressure from the USO union and President Gustavo Petro. Four of nine members backed his dismissal in Tuesday's meeting, with no decision reached. The oil workers' union USO threatens strike if he is not removed.

Ricardo Roa, Ecopetrol's president, stated he will not step down despite a formal charge of influence peddling by prosecutors. In an interview with Cambio magazine, he defended his position, saying it has not altered the company's risk matrix. He emphasized acting with full transparency toward international markets.

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The Standard Media Group has vowed to sue the government after the Communications Appeals Tribunal dismissed its appeal on licence revocations. The media house cites a Ksh 1.2 billion government debt for advertising. It plans to appeal to the High Court.

Fugitive tycoon Atong Ang has asked the Department of Justice to exclude him from the Manila Arena case involving missing sabungeros. His lawyer contested the affidavit of whistleblower Julie Patidongan, who now claims Ang masterminded the abduction of one victim.

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Super Micro Computer's stock fell more than 30% after US authorities charged employees, including a co-founder, with smuggling AI chips to China. The Department of Justice findings support the company's compliance and internal controls, with no charges against Super Micro itself. The incident involved an estimated $2.5 billion in smuggled sales, about 10% of the firm's FY25 revenue.

Colombia's Superintendencia Financiera issued a new sanction against Alianza Fiduciaria for the Sky Condominio project in Montería, Córdoba. The regulator ordered the repayment of $1.6 billion Colombian pesos to a group of buyers, finding that the fiduciary failed to verify the project's viability and the developer's financial capacity.

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A US federal judge has dismissed with prejudice Musi's lawsuit against Apple, ruling that Apple could delist the free music streaming app with or without cause. The judge also sanctioned Musi's lawyers for making up facts in their claims. The decision upholds Apple's removal of the app from its App Store in September 2024.

 

 

 

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