Ecopetrol appoints Joaquín Gutiérrez Caballero as permanent CEO

Ecopetrol ($EC)’s board unanimously appointed Joaquín Gutiérrez Caballero as chief executive, effective September 28. He succeeds interim leader Camilo Barco, whose temporary assignment ends the preceding day. The appointment puts a permanent executive in charge of the Colombian energy group after the interim management period.

The company cited Gutiérrez Caballero’s more than 30 years of experience and identified management, corporate governance and engagement with stakeholders among the priorities for the transition. The release establishes the leadership change rather than a new production target, asset transaction or earnings forecast. Investors therefore have confirmation of who will lead execution, but the announcement does not quantify changes to the group’s investment program or financial outlook.

Sources:

• Ecopetrol — board appointment, PR Newswire release