MARIA E. SANZ PEREZ IS EXECUTIVE VICE PRESIDENT: GROUP Legal, Commercial and Governance of Johannesburg-based AngloGold Ashanti Ltd. Sanz was admitted as an attorney of the Supreme Court of South Africa after receiving her Bachelor of Laws from the University of Witwatersrand in Johannesburg and her bachelor's degree in commerce, majoring in commercial law and economics, from the same university. Sanz holds a higher diploma in taxation from the University of Johannesburg and also completed a postgraduate course in sustainability leadership at the University of Cambridge, as well as the advanced management program at Harvard Business School.

Sanz was group head of legal and sustainability at Sappi Ltd. She also held various positions at African Oxygen Ltd (Afrox). Sanz was appointed GC of legal and commercial for Afrox, later becoming company secretary in addition to providing all legal services to Afrox Healthcare. She was also GC for the industrial and special products division of BOC plc, as part of her responsibilities, and was a member of BOC legal leadership team. Between 1993 and 1998, Sanz held legal advisory positions with Basil Read Holdings Ltd. and Investec Ltd. She joined AngloGold Ashanti in 2011.

AngloGold Ashanti Ltd. is the world's largest emerging-market gold producer with 17 mining operations in nine countries. AngloGold Ashanti is the third-largest gold mining company in the world, measured by production. The company's debt and equity securities are traded in Johannesburg and New York, as well as in Ghana and Australia. Sanz's responsibilities include legal and compliance across all the company's operating jurisdictions. She is a member of AngloGold Ashanti's executive committee and several subcommittees of the board, and is a member of the company's capital markets team. She is also a director of a number of the company's subsidiaries. Sanz also has direct accountability for secretarial functions and annual integrated reporting, as well as commercial, legal and contractual aspects of group supply chain. She is a member of the Lex Mundi Client Advisory Council and the Association of Corporate Counsel 2017 General Counsel Summit Advisory Board, whose summit she co-chaired.

LEGAL TEAM: "I am involved in matters which are material and would be reported back to the board and the executive. I have a great team who manage their areas of accountability," Sanz says. "They have a lot of independence in how they manage their work on a day-to-day basis, but at the same time know when to refer issues to me. I am very fortunate that my teams are experienced and have tenure with the organization. They have developed the trust of the business and are seen as an integral part of the operations." Most legal work is done in-house, other than litigation and some transactional work. "In order to retain and develop staff, I think it is important to allow them to be involved in the most challenging work and rather look for ways to deal with the more mundane tasks," she says.

OUTSIDE COUNSEL: "I believe in working with external counsel that understand my organization, the demands which are placed on my team and I, and that I would trust to put before my CEO or board if so needed," Sanz says. "External counsel are our partners, an extension of the in-house team and we are judged on their performance, hence the importance of working with those that are aligned with us."

TYPICAL DAY: "I do not have a typical day nor would I want one," Sanz says. "Due to the scope of our operations and the level of cross-functional work that I am involved in, my days can consist of the development of strategies around key litigation matters, to meetings with ministers to negotiations with third parties around commercial contracts. We work on an open-door office policy such that our offices or office space do not have doors to encourage interaction and informality."

WHAT KEEPS YOU UP AT NIGHT: "Mining is a very complex industry, one that carries great responsibility due to its significant impact on communities and the environment," Sanz says. "It is just getting more complex as a result of the changes in communities' expectations and share of benefits from mining and both developing and developed countries. How can we balance shareholder, government and community expectations? What is the level of share which is fair for the investor and the country? Wrestling with the solution keeps me up at night."