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since 2009
Tuesday, September 1, 2026

Colombia Energy

Ecopetrol Leadership Changes Reach Two More Vice Presidencies Before Board Vote

By · September 1, 2026 · 6 min read

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COLOMBIA · ENERGY

Key Facts

What happened: Ecopetrol changed two more top jobs on 31 August. Sergio Andrés Moreno Acevedo left the Corporate Vice Presidency of Science, Technology and Innovation, and the board formalised a new acting head of the Executive Vice Presidency of Transition Energies.

Who steps in: Diana Marcela Acero Rojas, previously innovation and portfolio manager, is acting head of science and technology. Henryk Manuel Porras Villamil, a project leader from the transition energies unit, is acting executive vice president for that division.

The wider shake-up: Days earlier, five vice presidents and senior executives left their posts, covering refining, strategy, administration, institutional relations and territorial transformation. All were replaced by internal acting appointees.

What comes next: On 15 September, an extraordinary shareholders assembly will elect all nine members of the board of directors and vote on a statutory reform of how the board is renewed.

Why it matters: Colombia’s largest company is replacing most of its executive layer and its entire board within weeks, under a new government that owns roughly 88.5 percent of its shares.

Ecopetrol leadership changes reached two more vice presidencies on 31 August, completing a sweep of the state oil company’s top ranks days before shareholders elect a new nine-member board on 15 September.

The Ecopetrol headquarters building on Avenida 13 in Bogota, Colombia
Ecopetrol’s headquarters in Bogotá. The state oil company has replaced most of its executive layer in the final days of August, ahead of a full board election on 15 September. (Photo: Felipe Restrepo Acosta, CC BY-SA 4.0, via Wikimedia Commons)
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The two changes announced on Monday

The first move closes the science and technology chapter. Sergio Andrés Moreno Acevedo left the Corporate Vice Presidency of Science, Technology and Innovation effective 31 August. From 1 September, Diana Marcela Acero Rojas runs the division on an acting basis. She was already inside the unit, as manager of Innovation and Portfolio CT+i, the company’s research and development arm.

The second move carries more strategic weight. The board formalised Henryk Manuel Porras Villamil as acting executive vice president of Energías para la Transición, the division that runs Ecopetrol’s shift into new energy businesses. Porras was previously a project leader in that same division’s project management office.

He replaces Ernesto Alfonso Gómez Cabarcas, who had held the vice presidency on a temporary basis until 30 August. According to the company, Gómez now takes a statutory rest period before moving on to new professional challenges.

Both appointments are acting roles, not permanent ones. Ecopetrol said it will announce the definitive designations in due course.

A sweep across the executive floor

Monday’s announcement follows a broader clear-out only days earlier. Five vice presidents and senior executives left their posts between 30 and 31 August, covering Territorial Transformation and HSE (health, safety and environment), Administration and Services, Institutional Relations and Communications, Strategy and New Businesses, and Refining and Industrial Processes.

In every case, the pattern has been the same: the departing executive is replaced, at least initially, by a manager already working inside the affected area. That keeps operations running while the company decides on permanent appointments.

The result is that Ecopetrol began September with acting leadership across most of its executive map, from the refineries to the energy transition portfolio. For a company that produces the majority of Colombia’s oil and anchors its public finances, that is an unusually fluid state of affairs.

Live Company IntelligenceEcopetrol SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
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◆ Live Company Intelligence
Ecopetrol
NYSE: ECECOPETROLEnergyOil & Gas Integrated
$33.92B
Market cap
Analyst target $13.73

Wall Street view

2.5Hold/ 5
1 Buy6 Hold4 Sell
Avg. price target $13.73  ·  +2% vs 200-day

Valuation & profitability

Market cap$33.92B
Revenue (TTM)$125.67T
P / E ratio10.5
Profit margin10.2%
Return on equity16.0%

Price & risk

52-wk low
$8.16
52-wk high
$18.19
Beta (volatility)-0.05
200-day average$13.52

Revenue trend · 6y

20202025
Latest $111.48T

Ownership

Institutions1.4%
Shares outstanding2.06B
Top holderBlackRock Inc
Institutional holders5+ funds

Dividend

Yield3.9%
Payout ratio60.1%
Fwd. annual$0.65
What Ecopetrol does. Ecopetrol S.A. operates as an integrated energy company. It operates through four segments: Exploration and Production; Transport and Logistics; Refining and Petrochemicals; and Energy transmission and Toll Roads Concessions. The Exploration and Production segment engages in the exploration and production of oil and gas. The Transport and Logistics segment is involved in…
Data: RT fundamentals (EC.US) · figures in USD · as of 31 Aug 2026More company intelligence →

The board vote on 15 September

The management churn runs in parallel with a full reset of the board of directors. On 15 September, an extraordinary shareholders assembly at the company’s Bogotá headquarters will elect all nine board members for the remainder of the 2025–2029 institutional period. The Rio Times reported on the slate and the statutory rewrite behind it earlier this week.

The assembly will also vote on a reform of the company statutes covering how the board is formed, renewed and elected, and on harmonising the succession policy for its members. Votes will be cast electronically, and shareholders may attend through written proxies.

The national government, which holds roughly 88.5 percent of Ecopetrol’s shares, has already presented its slate: six new candidates and three sitting members who would continue. The three are César Eduardo Loza Arenas, the workers’ representative; Ricardo Rodríguez Yee, who represents the hydrocarbon-producing departments; and Luis Felipe Henao Cardona, backed by the largest minority shareholders.

The six new names on the slate are Carlos Augusto Suárez, José Camilo Manzur Jattin, Jorge Alberto Jaller Jaramillo, Ludmila del Carmen Vergara, Betzy Patricia Martínez and Claudia Margarita Lafaurie Taboada.

What the Ecopetrol leadership changes signal

A new government has been in office in Bogotá since 7 August, and state enterprises are where new governments leave fingerprints first. Ecopetrol is the biggest of them all: Colombia’s largest company by revenue, its biggest single taxpayer and the anchor of the country’s energy supply.

The timing is delicate. The company is managing tight domestic gas supply, heavy investment commitments and an energy transition strategy that the new administration is expected to recalibrate toward more conventional production. Whoever holds the transition energies vice presidency, even in an acting role, sits at the centre of that debate.

Investors will read the 15 September assembly as the moment the new direction becomes formal. Until then, the acting appointments keep the seats warm and the options open.

Frequently asked questions

What changed at Ecopetrol on 31 August?

Two vice presidencies changed hands. Diana Marcela Acero Rojas became acting head of Science, Technology and Innovation after Sergio Moreno’s departure, and Henryk Manuel Porras Villamil was formalised as acting executive vice president of Transition Energies.

Are the new appointments permanent?

No. Both are acting roles filled by internal managers, as were the five executive replacements announced days earlier. Ecopetrol says permanent designations will be announced later.

What happens on 15 September?

An extraordinary shareholders assembly will elect all nine members of Ecopetrol’s board of directors for the rest of the 2025–2029 period and vote on a statutory reform of board renewal and succession rules.

Who controls Ecopetrol?

The Colombian state owns roughly 88.5 percent of the company. The government has proposed a slate of six new board candidates and three continuing members for the September vote.

Sources: Ecopetrol relevant-information notices; El Espectador, 31 August 2026; Semana and Blu Radio, 1 September 2026; El Espectador assembly notice, 29 August 2026.

Connected Coverage

Ecopetrol has had a turbulent year, from its union settlement in June to the statutory rewrite clearing six new board seats. Follow the company on our Colombia hub.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error

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