In the Assembly that elected the new board of directors, changes were made aimed at avoiding another hostile takeover like the one at Nutresa that blew up the GEA.
The Grupo Empresarial Antioqueño will never be the same after the hostile takeover by Jaime Gilinski and the Arab fund IHC, which ended with the purchase of Nutresa and the reorganization of leading companies such as Grupo Argos, Sura and now Bancolombia, with a change in statutes to prevent similar situations from happening again.
The statutory reform was presented by the President of Bancolombia Juan Carlos Mora and the legal vice president and general secretary Claudia Echavarría Uribe and was approved by the Shareholders’ Assembly, which also chose the new board of directors to which Ricardo Jaramillo, the new President of the Sura Group, joined. who replaced German Perez who reached the retirement age established by the GEA.
He will be presiding over the largest bank in Colombia together with independent members such as Silvia Escobar, who has just received a hard blow with the intervention that the Petro government made at the beginning of April in the EPS Sanitas, whose board was chaired by the renowned executive.
Luis Fernando Restrepo Echavarria, current president of Crystal SAS, a company dedicated to the production and marketing of brands in Latin America such as Gef, Punto Blanco, Baby Fresh and Galax, owned by the Echvarria family; Andrés Felipe Mejía Cardona, partner and president of Mu Mecanicos Unidos, which produces Victoria brand cast iron solutions and exports to 35 countries around the world. In addition to the expert consultant in economics and corporate governance Silvia Vartnick.
Bancolombia’s move was made to anticipate any future takeover bid after the tough fight between Gilinski and the Antioqueño Business Group that took two costly years.
In the past they had already had a major legal dispute with the Gilinski Group that tried to stay with the bank and at some point it was speculated that the true interest of businessman Jaime Gilinski, who after last year’s moves with which he increased his fortune in 166.67% according to Forbes, placing him as the second richest man in Colombia, was to stay with Bancolombia. He will now have to look in another direction.
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