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Ecopetrol Investors Ratify New Directors Assessed to Be Unfit [Financial Post (Toronto, Ontario, Canada)]

Ecopetrol S.A. American Depositary Shares (EC) 
Company Research Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Ecopetrol SA shareholders approved new board members despite an internal report that warned they lack the experience needed to oversee the company. In a meeting Friday, investors led by the Colombian government as majority owner, chose five new members for the board and re-elected four incumbents. Among the newly elected directors are an ex-union leader, two former senators and Deputy Environment Minister Lilia Tatiana Roa, whose LinkedIn profile describes her as “supporting community proposals to resist extractivism.” Article content Article content The board overhaul at the state-controlled oil company comes as President Gustavo Petro pushes to move the South American economy away from fossil fuels. He has refused to sign new drilling licenses even with oil and coal accounting for about half of the nation's exports. Ecopetrol is exploring for Show less Read more
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