Company News Oct 27, 2021 4:26 PM
ISA appointed four new members to its Board of Directors.
This decision was made at an Extraordinary Shareholders’ Meeting, La Republica reported.
Among the four new members is Felipe Bayón Pardo, President of Ecopetrol (NYSE: EC).
Also on the board are Jaime Caballero Uribe, Ecopetrol’s Corporate Vice President of Finance, Andrés Felipe Mejía Cardona, a former member of ISA’s board from 2001 to 2011, and Internexa’s Jesús Aristizábal Guevara, who was also a member of ISA’s board for more than 20 years.
The remaining five members are maintained, considering that four are those appointed by other shareholders. However, Ana Fernanda Maiguashca Olano remains on the Board as an independent member nominated by Ecopetrol.
This new Board will be in charge of electing the new president of the company that was acquired by Ecopetrol and whose appointment will be made before the end of the year.
Bottom-Line: So the first question is answered. The new board of ISA is not from MinHacienda but from Ecopetrol. The NOC will actively manage its new subsidiary.
Hope that works out for the other shareholders (of both companies) and for Colombian taxpayers.