BOGOTÁ, Colombia, Aug. 17, 2017 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC) informs that its Board of Directors, in
a meeting held on August 16, 2017,
accepted the resignation of Juan Carlos Echeverry Garzón, current
president of the Company, submitted for family reasons, and
appointed as his replacement Engineer Felipe Bayón Pardo, current
Executive Vice President. The transition in the presidency will be
made on September 15, 2017.
The appointment of Bayon is based on the process completed by a
subcommittee of the Board of Directors, advised by an international
firm specialized in the selection of high-level executives, after a
rigorous analysis of the proposed candidates.
The Board of Directors made a special recognition to
Juan Carlos Echeverry for the
achievements during its management of Ecopetrol, in which he
successfully met the challenges of the international oil market and
maximized the value of the company for the benefit of its
shareholders and all Colombians.
Echeverry formed a talented management group that surpassed the
efficiencies and savings goal, and laid the foundations for the
Company's growth in the long term. Among its achievements is the
discovery of a new hydrocarbon province in the Colombian Caribbean,
strengthening ethical and compliance management in the company, and
a new strategy in key areas such as finance, projects, supply,
human talent, environment and relationship with communities, among
others.
The new president of Ecopetrol, Felipe Bayón Pardo, is a
mechanical engineer from the University of Los Andes with more than
25 years of experience in the oil and gas industry, both in
Colombia and abroad.
For more than 20 years he worked at BP PLC, where he held senior
positions such as Senior Vice President BP Americas and Director of
the Deepwater International Response Group. Since February 2016, he has led Ecopetrol's operations
as Executive Vice President.
Dr. Bayón received the mandate from the Board of Directors to
continue the transformation process and focus on profitable
growth.
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This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Capital Markets
Maria
Catalina Escobar
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: (+571) 234 4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.