Ecopetrol is trading 4.11% down now at $17.51 after shareholders approved a sweeping government-backed board overhaul on September 15.
- Alfonso Camilo Barco Muñoz became acting CEO after Juan Carlos Hurtado Parra’s departure.
- Reuters reported corruption allegations and another senior-management shake-up, increasing governance and strategic-direction uncertainty.
- Broader pressure is also coming from energy stocks, with the sector down 2.08% as oil prices ease ahead of the Federal Reserve decision.