Maria Ramos has been appointed the new chair of AngloGold Ashanti, replacing Sipho Pityana with immediate effect.
Ramos, an insider in the company, has been a director of the gold producer since May 2019 and served as chair of the group's remuneration and human resources committee.
She was the CEO of Absa for 10 years, and led the bank through the process of unbundling from Barclays, its former UK parent.
AngloGold noted that Ramos brings to the role "exceptional experience in leadership roles across both the private and public sectors".
Her appointment comes a few months after the group completed the $300 million sale of its last remaining gold assets in South Africa to Harmony. The company operates mines in Ghana, Mali, DRC, Guinea and Tanzania and has a presence in Australia and South America.
While the miner did not provide a specific reason for Pityana's resignation, it said in a statement on Tuesday morning that it noted "the significant contribution made by Mr Pityana to the company since his appointment to the board in 2007 and his appointment as chair in 2014," including a 70% reduction in its debt.
In July, the group announced that its CEO, Kelvin Dushnisky, was stepping down from his position less than two years into his tenure. Christine Ramon has been acting as CEO in the interim.