Ecopetrol S.A. Strengthens Leadership with New Board Appointments and Committees

Recent Board Decisions at Ecopetrol S.A.



Ecopetrol S.A. has made significant strides in strengthening its governance framework as it announces new additions to its Board of Directors' committees. This move comes as part of their ongoing commitment to uphold the highest standards of corporate governance and operational excellence in Colombia's energy sector.

On November 29, 2024, the Board convened and decided to appoint several key figures, beginning with Álvaro Torres Macías taking the helm as Chairperson of the Audit and Risk Committee. Torres is recognized for his expertise in financial and accounting matters, which will be instrumental in the committee's oversight responsibilities. Joining him are Guillermo García Realpe and Ángela María Robledo Gómez, both seasoned professionals who bring a wealth of experience and insight to the table.

Guillermo García Realpe will also contribute to the Business Committee, which continues to be led by Mónica de Greiff Lindo. This committee plays a crucial role in guiding the company’s business strategies and ensuring operational alignment with its long-term goals. Other representatives on this committee include Álvaro Torres Macías and Gonzalo Hernández Jiménez, who underscores the collaborative approach of Ecopetrol’s governance structure.

Ángela María Robledo Gómez not only leads the Corporate Governance and Sustainability Committee but also brings her expertise to the HSE (Health, Safety, and Environment) Committee, reinforcing Ecopetrol’s commitment to environmental and social responsibility. This dual role ensures that sustainability is integrated into all levels of decision-making.

The Compensation, Nomination, and Culture Committee will be led by Mónica de Greiff Lindo as well, highlighting the company’s dedication to fostering a strong corporate culture and an engaged workforce. The committee is filled with crucial members such as Lilia Tatiana Roa Avendaño and Edwin Palma Egea, who will work towards developing equitable compensation structures and promoting a diverse environment within the organization.

In alignment with industry best practices, the Board of Directors has authorized hiring an independent financial advisor to enhance the functionalities of the Audit and Risk Committee. This decision reflects their commitment to maintaining transparency and accountability in their financial reporting and risk management processes.

Ecopetrol is Colombia's largest company and a critical player in the energy sector on the American continent. With a workforce of over 19,000 employees, it is responsible for more than 60% of the country's hydrocarbon production, and it leads the market in various segments including petrochemicals and gas distribution.

The company has expanded its horizons through strategic acquisitions, such as its controlling stake of 51.4% in ISA, which positions it prominently within global energy transmission networks. Additionally, Ecopetrol engages in drilling and exploration operations in key areas like the Permian Basin and the Gulf of Mexico, extending its impact from Colombia to broader international markets.

With these recent committee appointments, Ecopetrol is poised to navigate the dynamic landscape of energy production and distribution while continuously striving for operational efficiency and sustainability. This reorganization not only enhances operational governance but also exemplifies Ecopetrol’s dedication to leading by example in the corporate sector.

For any inquiries, stakeholders can contact Carolina Tovar Aragón, Head of Capital Markets, or Marcela Ulloa, Head of Corporate Communications, as they remain at the forefront of providing clarity and direction within this evolving corporate structure.

Topics General Business)

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