Ecopetrol appointed businessman Joaquin Gutierrez as its new chief executive officer, effective September 28. The company's recently revamped board of directors reached the decision unanimously.

Gutierrez previously served as a campaign strategist for the Colombian president. He holds a degree in business administration but lacks prior experience in the hydrocarbons sector.

His professional background includes organizational management and private investments in real estate and healthcare. Gutierrez replaces acting CEO Alfonso Camilo Barco, who served as interim lead following the previous executive's departure.