Ecopetrol faces shakeup as Cenit president departs

Ecopetrol is seeing continued changes across its leadership team as Alexander Cadena confirmed his departure as president of its logistics and transportation subsidiary, Cenit. Cadena took the role on 27 May 2024 after previously leading Ocensa, another unit in the corporate group. He had succeeded Héctor Manosalva, who held the presidency at Cenit for five years.

Cenit is one of the most profitable units for Ecopetrol, operating around 9,000 kilometres of oil and multipurpose pipelines across Colombia. Cadena noted in past remarks that the unit had delivered complete information regarding a legal advisory contract awarded for more than $23,663 million, which had prompted an investigation request filed by attorney Abelardo De La Espriella.

The exit follows several other executive departures across Ecopetrol and its subsidiaries, even while the state-run parent firm operates without an appointed permanent president. Recent departures include the president of petrochemical unit Esenttia and Luis Eduardo Parra, the manager of exploration subsidiary Hocol, along with shifts in key vice presidencies and gas management roles.

Ecopetrol has called a shareholder meeting for 15 September. The plenary session is scheduled to consider proposed changes across multiple fronts, with the Colombian government holding the majority voting stake.