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Citigroup said in a statement that the confusion sends the wrong message and challenges board independence.

During a board meeting yesterday called by EPM (Empresas Públicas de Medellín) CEO Alvaro Rendón after Medellín Mayor Daniel Quintero asked for his resignation, the board of directors, appointed entirely by Mayor Quintero, confirmed his firing.

EPM General Manager Alvaro Rendón says he will resign only after meeting with the Board of Directors, despite Medellín Mayor Daniel Quintero's request for his head; this just days after Quintero dismissed Rendon's ouster as politically motivated false rumors.

Olga Lucia Arango, the president of EPM's largest labor union does not mince words when she expresses her union's concern over alleged mismanagement and political interference at the Medellín-based multinational utility operator. She has a message for the utility's bondholders,...

The board of directors then asked for a meeting with the mayor at the end of July, which they did not get. In their regular board meeting, August 12, the board of directors again asked Quintero’s secretary of economic development, Alejandro Arias for a meeting with the mayor to...

This new board the mayor was able to assemble is notable for not including anyone with deep corporate governance experience or a background running multibillion-dollar international enterprises like EPM. Several nominations with corporate experience by the mayor publicly rejected...

Adding to the turmoil at EPM (Empresas Públicas de Medellín) since Medellín’s mayor Daniel Quintero took office and appointed CEO Álvaro Guillermo Rendón (above photo), the utility’s primary labor union SINPRO has issued a public demand for information on Rendón’s alleged...

EPM has received notification from local and international financial entities of the suspension of commercial relations, resulting in the reduction of quotas and credit limits in operations such as loans, exchange risk hedges and bank guarantees, after the board of directors quit...

Just one day after the board of directors of Medellín utility EPM resigned in protest, Medellín technology incubator Ruta N’s entire board of directors, citing a lack of confidence in Quintero’s stewardship.

Colombian low-cost airline Viva Air this week announced that Rappi co-founder Juan Pablo Ortega Merino, co-founder of Rappi has been added to the company’s board of directors.