Economy & Business - May 2023

ECUADOR: Petroecuador appoints new CEO, hopes for stability

The board of directors of Petroecuador, Ecuador’s state-owned oil company, named Ramón Correa as the company’s new CEO on 12 April. Correa replaces interim CEO María Elisa Soledispa, who took over from Hugo Aguiar when he resigned in February amid a corruption investigation by the attorney general’s office. Correa has taken the reins of a company in disarray, inheriting a string of corruption scandals and fierce indigenous protests that have contributed to dwindling oil production.

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