Colombian majority-state-owned energy company Ecopetrol on Jan. 26 said CEO Felipe Bayon will leave his post on March 31, following more than five years in the position.

Bayon's departure represents a shake-up for Colombia's biggest company and largest producer of oil - one of the Andean country's most important exports - during a drive by leftist President Gustavo Petro to accelerate the transition toward renewable energy.

Choosing Bayon's replacement will involve a rigorous selection process by the company's board of directors, the company said in a statement.