Ecopetrol's Board of Directors Announces Succession Plan for the Company's Presidency
December 12, 2014 at 08:15 AM EST
The board of directors has decided to initiate a succession process for the presidency of the company, which has been held by Javier Gutierrez since 2007
The process of selecting the next president of Ecopetrol will be led by the Board of Directors, with the assistance of an international executive search firm
BOGOTA, Colombia, Dec. 12, 2014 /PRNewswire/ -- The Board of Directors of Ecopetrol announces that:
Ecopetrol is the largest company in Colombia and is integrated into the oil chain; it is among the 50 major oil companies in the world and among the four main ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it is present in exploration and production activities in Brazil, Peru & US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.
This report contains statements associated with the business perspectives, estimates for operational and financial outcomes and affirmations associated to Ecopetrol's growth. All the above are projections, and as such are solely based on the expectations of its directors with respect to the future of the company and its ongoing access to capital to fund the company's commercial plan. The realization of such estimates in the future depends on market conditions, regulations, competitiveness, performance of Colombia's economy and industry, to mention a few; therefore, they are subject to changes without previous notice.
For further information, please contact:
Investor Relations Director
Media Relations (Colombia)
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SOURCE Ecopetrol S.A.