Ecopetrol's Board of Directors Unanimously Appoints Joaquín Gutiérrez Caballero as the Company's New Chief Executive Officer
The board chose a political ally with no oil-industry background as profits fell 39.5% to COP 9 trillion in 2025, company figures show.
- On Thursday, Ecopetrol's board unanimously named Joaquín Gutiérrez Caballero as the new chief executive. Gutiérrez, a business administrator and former campaign manager for President Abelardo de la Espriella, assumes the role on Monday.
- Net income dropped from a record COP 33.4 trillion in 2022 to COP 9 trillion in 2025 as profits fell for three consecutive years. Management blamed exchange rates, lower oil prices, inflation, new taxes, and logistics challenges.
- While Ecopetrol cited his "exceptional capacity for articulation," Gutiérrez lacks oil-industry experience, having focused his career on business, law, health care, construction, and farming. The board skipped the headhunter search typically used for executive appointments since 2007.
- Martín Ravelo, president of the oil workers' union USO, urged the leader to "recover confidence in Ecopetrol, recover its credibility, especially with the markets." The New York receipt fell 1.92% to US$16.37 following the announcement.
- Gutiérrez inherits falling reserves and gas supply issues while tasked with building bridges with workers and investors. He formally takes charge on Monday at an event billed as "the rebirth of Ecopetrol," replacing interim chief Camilo Barco.
27 Articles
27 Articles
Ecopetrol announced that the board of directors unanimously appointed Joaquín Gutiérrez Caballero as its new director-president. Caballero takes office next Monday (28) and will replace Alfonso Camilo Barco Muñoz, who held office temporarily for a few weeks. The college recommendation prioritized an executive profile with strong capacity for coordination and institutional dialogue to lead the next phase of development of the Colombian state. Tra…
The Courier-Tribune
Ecopetrol's Board of Directors Unanimously Appoints Joaquín Gutiérrez Caballero as the Company's New Chief Executive Officer
BOGOTÁ, Colombia, Sept. 24, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (the "Company") announces that, at a meeting held today, its Board of Directors, acting unanimously and with the full participation of all its members, appointed Mr. Joaquín…
The president manages to place his great friend Joaquín Gutiérrez as president of the company, after positioning his strategist on the board of directors
Joaquín Gutiérrez, who has no experience in hydrocarbons, has the paved way to chair the company The post The Junta will elect Abelardo's friend as the new president of Ecopetrol appeared first on La Silla Empty.
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