Ecopetrol Names New Board Amid Governance Crisis and Profit Decline

Colombia's state oil company Ecopetrol has selected a new board of directors following a period marked by judicial scandals, governance concerns, and four consecutive years of declining profits. The board renewal signals an attempt to restore investor confidence, but the company faces structural challenges including falling production and political interference. The market impact will depend on the new board's strategic direction and ability to address governance issues.