The Plenary Chamber of the National Electoral Council (CNE) decided by majority to open an investigation and file charges against the Gustavo Petro’s 2022 presidential campaign. A determination that includes some of the members who were in charge of it.
(Read more: CNE opens formal investigation against Petro for financing his presidential campaign)
Those responsible who will be charged for the alleged violation of funding caps include Ricardo Roa, who At the time he served as campaign manager.
Roa currently holds the presidency of Ecopetrol, so this situation has raised alarms about the impact it may represent for the state oil company. Especially, considering the drop in income and the increase in operational costs that the company has been registering.
After the presentation requesting the opening of this process was filed, Portafolio consulted with experts regarding the scenarios that the president of the company would face in the event that the CNE made the decision to formulate a statement of objections.
(Read more: ‘The coup d’état has begun’: Petro on the indictment of charges by the CNE)
Ecopetrol.
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(More news: Which other members of Petro’s presidential campaign will be charged?)
At that time, the majority agreed that the most important thing is to create security conditions for Ecopetrol so that its image is not weakened.
In this sense, Daniel Guardiola, director of Equity Research at BTG Pactual, pointed out that the issue, beyond the media debate, must take into account the rules of good corporate governance that must be fulfilled before international organizations.
“In theory, if charges are filed, I don’t see how Roa can continue being president of Ecopetrol, to be honest. Especially considering that Ecopetrol negotiates in the United States and has to comply with the rules, which are called the Sarbanes-Oxley Act, which is best practices in corporate governance.”highlighted the analyst.
At the time, Guardiola also indicated that the situation should be handled internally at Ecopetrol, precisely from the Ethics and Compliance Council.
On the other hand, in mid-March of this year, the then president of the oil company’s board of directors, Saúl Kattan, referred to the report prepared by the Control Risk firm in which The effects of the investigations on the oil company were explored What is there against Ricardo Roa.
Kattan pointed out at that time that this report would serve as input for making decisions and knowing what direction to take in the company. Furthermore, he clarified that in none of the scenarios presented in the report is the departure of Roa from the presidency of Ecopetrol discussed, proposed or advised.
“There are many scenarios that are being considered with President Roa: from nothing happening to other more complex scenarios. The incoming board of directors will have to monitor the situation very carefully and make the right decisions”he mentioned.
It is important to note that Kattan is no longer part of the board of directors of Ecopetrol and that several members of the board changed at the beginning of April, when the new formation of this body was announced.
Now, after the approval of the presentation by the CNE, sand will proceed to notify the case to those linked to the processwhich includes the first president. When this happens, the clock will begin to tick.
In that order of ideas, 15 days will be given to respond to the charges, a stage in which a first defense is exercised, which includes requesting evidence and contesting. Then we move on to the 60-day evidentiary period and end with the closing arguments.
(More news: What’s coming and other keys to understanding the CNE’s decision on Petro’s campaign)
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