Ecopetrol tumbles as CEO Ricardo Roa takes leave through June 28
Ecopetrol shares are sliding after the company confirmed CEO Ricardo Roa will step aside on a leave of absence through June 28, 2026, following a board meeting held April 6. The abrupt leadership disruption is amplifying governance and political-risk concerns into Colombia’s election season, driving a sharp selloff in the ADR.
1. What’s moving the stock
Ecopetrol (EC) is dropping sharply as investors digest a sudden leadership interruption at Colombia’s state-controlled oil producer. The company said its board, meeting on April 6, 2026, approved an unpaid leave of absence requested by President (CEO) Ricardo Roa, with a vacation period running from April 7 to May 27, 2026, and leave extending through June 28, 2026. (prnewswire.com)
2. Why it matters now
The timing puts corporate governance in the spotlight heading into Colombia’s election calendar, with the leave structured to run past the June vote window. That political overlay is a key risk premium for EC’s ADRs, and today’s move suggests the market is repricing uncertainty around decision-making continuity, board dynamics, and potential headline risk tied to leadership and legal scrutiny. (elpais.com)
3. What to watch next
Investors will be watching for clarity on acting leadership authority, any follow-on board actions, and whether additional developments around Roa’s situation emerge while the company is under interim management. Separate near-term corporate catalysts include the reduced 2025-earnings dividend approved at the March 27 shareholder meeting, with payment timing running into late April for shareholders. (marketscreener.com)