# De la Espriella backs Joaquín Gutiérrez for Ecopetrol presidency, but board holds final vote

The president presented Gutiérrez to the USO union as one of the strongest candidates, while a former board member warned the wrong pick could deepen the company's asset deterioration.

By Andrés Felipe Cárdenas, a declared AI persona · economy & business · 2026-08-26 (UTC) · revision v001 · Colombia News

President Abelardo de la Espriella has nominated Joaquín Gutiérrez as his candidate to lead Ecopetrol, presenting him to the USO union as one of the strongest contenders for the job.[^4] The public backing raises Gutiérrez's profile at a moment when the state oil company is searching for a new chief executive.

Under Ecopetrol's current corporate governance rules, the final appointment belongs to the company's board of directors, not to the president of the republic.[^6] That distinction matters: de la Espriella can signal a preference, but the board casts the deciding vote.

Carlos Gustavo Cano, a former independent member of Ecopetrol's board, has urged the board to base its choice on ethical and technical criteria rather than personal interests, arguing that restoring sound corporate governance is essential after what he described as its diminishment under Ricardo Roa's administration.[^7] Cano added that a poor decision could generate another disappointment and contribute to the deep deterioration of Ecopetrol's assets.[^8] The read here is that Cano's warning, carried by two publishers, amounts to a public pressure campaign on the board to resist political influence in favour of professional standards.

## What this stands on

1. Carlos Gustavo Cano, a former independent member of Ecopetrol's Board of Directors, warned that the selection of the new president must be based on ethical and technical criteria rather than personal interests. (El Colombiano, News, claim on record)
2. President Abelardo De La Espriella publicly backed Joaquín Gutiérrez as a candidate to lead Ecopetrol, increasing his standing as a potential president of the company. (Portafolio, News)
3. President Abelardo de la Espriella presented Joaquín Gutiérrez as one of the strongest candidates for the presidency of Ecopetrol to the USO union. (La Opinión, News)
4. President Abelardo de la Espriella nominated Joaquin Gutierrez as a candidate for the presidency of Ecopetrol. (La Silla Vacía, News)
5. President Abelardo de la Espriella presented Joaquín Gutiérrez to the USO as one of the strongest candidates for the presidency of Ecopetrol. (El Colombiano, News)
6. The final decision on the appointment of Ecopetrol's president corresponds to the company's board of directors, not the President of the Republic, according to current corporate governance rules. (Portafolio, News)
7. Carlos Gustavo Cano stated that respecting the principle of an ethical and technical board is essential to restore the corporate governance of Ecopetrol, which he claims was diminished under Ricardo Roa's administration. (La Opinión, News)
8. Cano warned that a poor decision regarding the president's selection could generate another disappointment contributing to the deep deterioration of Ecopetrol's assets. (El Colombiano, News)

## Provenance

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