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Ecopetrol Board Meeting to Decide Ricardo Roa's Fate Amid Political and Worker Pressure

Bloomberg Markets •
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Ecopetrol SA's board will convene on March 30 to decide the future of Chief Executive Officer Ricardo Roa, a decision unfolding under intense pressure from both politicians and workers that threatens to paralyze Colombia's largest company. The board's meeting represents a critical juncture for the state-controlled oil giant, whose operations and strategic direction hang in the balance as internal dissent and external political demands mount. Ricardo Roa has faced mounting criticism over his handling of the company's operations and recent labor disputes, with unions and political factions increasingly vocal in their calls for his removal. The potential paralysis of Ecopetrol, a cornerstone of Colombia's economy and a major global oil producer, underscores the high stakes for the board's decision. March 30 marks the deadline for resolving this leadership crisis, with investors and the Colombian government closely watching how the board navigates the demands that could reshape the company's executive leadership and its relationship with both labor and political stakeholders.