BOGOTA, Colombia, July 19, 2015 /PRNewswire/ -- Ecopetrol S.A.
(BVC: ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that, at the
Board of Directors' meeting on Friday, July
17, 2015, the Board of Directors decided as follows:
- To accept the resignation of Mr. Gonzalo Restrepo Lopez as member and chairman of
the Board of Directors.
The Board of Directors gave special recognition to Mr. Restrepo's
work as chairman, in which he placed his unique human, managerial
and leadership qualities at Ecopetrol's service. The Board of
Directors wishes him success in his new endeavor as a member of the
government's negotiating team in the peace process in Havana.
- To appoint Mr. Luis Fernando
Ramirez, an independent Director, as the new chairman of the
Board of Directors.
- To appoint the engineer Hector
Manosalva Rojas, currently Ecopetrol's Vice President of
Development and Production, as the second alternate to Ecopetrol's
President.
- To appoint Ms. Juliana
Alban as Corporate Vice President of Compliance, who will
also act as the company's Compliance Officer.
The Corporate Vice Presidency of Compliance is a unit that was
recently approved within Ecopetrol's organizational structure with
the purpose of ensuring the highest standards of compliance and
internal controls on the management of the company.
---------------------------------------
Ecopetrol is the largest company in Colombia and is an integrated oil and gas
company; it is among the top 40 oil companies in the world and
among the top four oil companies in Latin
America. Besides Colombia –
where it generates over 60% of the national production – it has
exploration and production activities in Brazil, Peru,
and the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia, most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
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
and gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, Ecopetrol'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 Corporate Finance and Investor
Relations
Maria Catalina Escobar
Hoyos
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
Logo - http://photos.prnewswire.com/prnh/20090209/ARM001LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ecopetrol-announces-decisions-by-the-board-of-directors-300115357.html
SOURCE Ecopetrol S.A.