Ecopetrol S.A., one of the leading oil and gas companies in Latin America, announced on April 11th, 2023, that it has appointed Ricardo Roa Barragán as its new CEO. This decision was taken after a rigorous selection process, which involved the support of the Compensation, Nomination and Culture Committee of the Board of Directors of Ecopetrol S.A. and an international headhunting firm specialized in recruiting senior executives.
The appointment of Mr. Roa, a mechanical engineer from the Universidad Nacional de Colombia and a specialist in engineering management systems from the Pontificia Universidad Javeriana, has been hailed as a strategic move by industry experts. He brings over 30 years of experience, having held prominent positions such as CEO of Grupo Energía de Bogotá S.A. E.S.P., Transportadora de Gas Internacional (TGI), and the General Management of Empresa Energía de Honduras EEH.
The appointment of Mr. Roa is expected to further enhance the growth trajectory of Ecopetrol S.A. and take the company to greater heights.
A Rigorous Evaluation and Selection Process
The selection process of candidates for the CEO position at Ecopetrol S.A. was carried out with utmost care and attention, ensuring that the best candidate was selected for the role. The process involved several stages, with the support of the Compensation, Nomination and Culture Committee of the Board of Directors of Ecopetrol S.A. and an international headhunting firm.
In the first stage, the headhunting firm identified a number of candidates who met the criteria defined in the profile of the position. Subsequently, the firm presented a reduced number of candidates who were interviewed by the Board of Directors. Finally, after extensive deliberations, the Board appointed Mr. Roa by consensus.
The selection process was in line with the Ecopetrol S.A. Chairman’s Succession Policy and other applicable regulations. The company has always been committed to upholding the highest standards of corporate governance, and this selection process is a testament to that commitment.
Expertise and Leadership of Ricardo Roa Barragán
Ricardo Roa Barragán is a seasoned professional with over three decades of experience in the energy sector. He is recognized for his expertise in strategic transformations and his leadership skills. As CEO of Grupo Energía de Bogotá S.A. E.S.P., he oversaw the company’s transformation into one of the leading energy players in the region.
Mr. Roa also served as the CEO of Transportadora de Gas Internacional (TGI), where he was responsible for expanding the company’s gas transportation infrastructure in Colombia and Peru. Under his leadership, the company became a key player in the region’s natural gas market.
As the General Manager of Empresa Energía de Honduras EEH, Mr. Roa was instrumental in improving the company’s operational efficiency and financial performance. He also led the company’s efforts to expand its renewable energy portfolio, thereby contributing to the sustainable development of the region.
A New Chapter for Ecopetrol S.A.
The appointment of Ricardo Roa Barragán as the CEO of Ecopetrol S.A. marks the beginning of a new chapter for the company. His experience, expertise, and leadership skills are expected to drive the company’s growth and enhance its competitiveness in the global energy market.
Ecopetrol S.A. has been a major player in the Latin American energy sector for several decades, and the appointment of Mr. Roa is expected to further strengthen its position. The company has been focusing on increasing its production capacity and exploring new markets, and Mr. Roa’s appointment is a step in the right direction. With his extensive experience and leadership skills, Mr. Roa is expected to lead the company to greater heights.
Ecopetrol S.A. has been committed to sustainable development and responsible business practices. The company has been working towards reducing its carbon footprint and investing in renewable energy sources. With Mr. Roa at the helm, the company is expected to further enhance its efforts towards sustainable development.
The appointment of Ricardo Roa Barragán as the CEO of Ecopetrol S.A. is a strategic move by the company. Mr. Roa brings with him a wealth of experience and expertise in the energy sector, and his appointment is expected to further strengthen the company’s position as a major player in the Latin American energy market.
The selection process of candidates for the CEO position was rigorous and transparent, and in line with the company’s commitment to upholding the highest standards of corporate governance. Ecopetrol S.A. has always been committed to sustainable development and responsible business practices, and Mr. Roa’s appointment is expected to further enhance the company’s efforts in this direction.
As the company enters a new chapter, industry experts are optimistic about its growth trajectory. With the appointment of Mr. Roa, Ecopetrol S.A. is expected to continue its journey towards becoming a leading energy company in the region, while also contributing to sustainable development.
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