Ecopetrol named businessman Joaquín Gutiérrez Caballero as chief executive.

Caballero will start on Sept. 28, succeeding interim Camilo Barco.

His priorities will include advancing Ecopetrol's renewal through initiatives designed to strengthen value creation, promote rigorous management practices and enhance engagement with the Colombian state and other stakeholders.

He holds a degree in business administration and postgraduate specializations in telecommunications project management and law, as well as healthcare services management.