Ecopetrol opens assembly with 88.8% quorum

Ecopetrol opened its extraordinary shareholders meeting on 15 September amid a tense environment, certifying an initial participation rate of 88.8%. That quorum represents 36.512 billion shares out of more than 41 billion total shares.

The company called 277,000 minority shareholders alongside the government to vote on a new board of directors and approve an amendment to corporate bylaws. The presence of the government provided the majority required for formal deliberation.

Several shareholders intervened during the session to express concern over recent news and scandals that prompted multiple resignation demands and formal resignations across the company.