Gustavo Petro’s message on social networks responds to a recent article published in the newspaper La República in which the latest changes within the board of the state oil company are reported shortly before the term of the still president ends. Ivan Duke.
The shareholders’ meeting of Ecopetrol, which is the main energy company in Colombia and the second in Latin America, approved extending the term of the board of directors from two to four years and thus be present at least until the first legislation of Petro.
“The changes during this period can only be made through a new reform of the statutes,” says the article in which this maneuver is justified as a form of “protect minority shareholders” and bondholderswhich would clash with Gustavo Petro’s foreseeable intention of having greater “representation of the people” on the board of directors.
The article points out that the Government already has representation from the Ministries of Finance and Mines and Energyand defends that despite being the majority shareholder, this is a way to protect minorities.
“The system of checks and balances is important so as not to generate panic in the stock markets, taking into account that the company’s listing is important for the country,” says the text.
Source: Ambito
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