Ecopetrol (EC) has granted Chief Executive Ricardo Roa an extended holiday and unpaid leave of absence, Reuters reported Tuesday, citing a company statement.

The move comes amid a probe by the Colombian attorney general's office into allegations of influence peddling by Roa, the news agency reported.

Roa is expected to return to his duties at the end of June, following Colombia's upcoming presidential election, according to the report.

Ecopetrol didn't immediately respond to MT Newswires' request for comment.

The company's shares were down 1.4% in premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)