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EEB Gains as CEO Nominee Steps Down After Twitter Posts

Empresa de Energia de Bogota SA, the Colombian capital’s power utility, gained for the first in five days as Fernando Gomez turned down a nomination as chief executive officer following media reports on his Twitter posts.

Gomez, named EEB president on Jan. 31, will be replaced by Sandra Fonseca, according to a statement on EEB’s website. The shares rose 1.5 percent to 1,315 pesos at 3:05 p.m. in Bogota.

The stock fell as much as 4.4 percent on Feb. 4 after W Radio reported on its website that Gomez sent posts on his personal Twitter account about a plan to merge city-controlled utilities. Gomez also posted jokes about getting drunk, according to W.

Gomez said in the statement that he turned down the position so the company “wouldn’t be affected in any way in its image or its earnings, as a result of the information published by the media.”

Fonseca runs her own consultancy and formerly worked as a Colombian energy regulator, according to the statement.

Gomez didn’t respond to an e-mail seeking comment.

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