Ecopetrol CEO Faces Probe Amid Influence Peddling Allegations
Ecopetrol CEO Ricardo Roa has been granted an extended holiday and leave amid investigations into influence peddling. The attorney general's office has charged Roa with pressuring an Ecopetrol subsidiary for contract awards, while he also faces separate election finance violation probes. Ecopetrol named Juan Carlos Hurtado Parra as acting president.
Ecopetrol, Colombia's state energy giant, announced on Monday that its CEO, Ricardo Roa, is on extended leave due to an investigation by the attorney general’s office into influence peddling allegations.
The board has authorized Roa's leave to start after a holiday from April 7 to May 27, continuing until the end of June. Roa's leave coincides with Colombia's presidential election, during which a new Ecopetrol board is expected with the country's new president in August.
The attorney general accused Roa of pressuring Hocol, an Ecopetrol subsidiary, to grant a contract to Gaxi ESP, linked to alleged personal dealings. Separately, Roa is under investigation for potential breaches of campaign finance laws during the 2022 presidential run, which brought President Gustavo Petro to power.
Amidst legal battles, Roa denied any misconduct. In his absence, Ecopetrol's board appointed Juan Carlos Hurtado Parra, executive vice president for hydrocarbons, as acting president.
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