María del Mar Bonilla – GC Powerlist
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Colombia 2026

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María del Mar Bonilla

Senior director, assistant general counsel, lead commercial lawyer (Colombia) | Cargill

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Colombia 2026

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María del Mar Bonilla

Senior director, assistant general counsel, lead commercial lawyer (Colombia) | Cargill

Team size: 3

What are the key projects you have been involved in over the past twelve months?

Over the past twelve months, I have led key legal initiatives across Colombia, Ecuador and Peru — jurisdictions that require a particularly broad and pragmatic legal approach. The complexity of these markets means that legal decisions cannot be assessed in isolation; they must be considered in light of political dynamics, economic volatility, social pressures and an evolving regulatory environment. My role therefore goes beyond providing technical legal advice: it involves helping the business make balanced, commercially sound decisions that are responsive to local realities while protecting the company’s long-term interests.

One of the most significant projects in Colombia was the legal team’s participation in the company’s collective bargaining negotiations, in close partnership with the Labour Relations team. This was a particularly sensitive process given Colombia’s current environment of polarisation, significant regulatory activity and heightened social expectations. My role was to provide strategic legal guidance throughout the negotiation, assess legal and operational risks in real time and help frame proposals that were both legally sound and aligned with the company’s broader organisational objectives. The negotiation concluded successfully, resulting in an agreement that supported operational stability, generated value for the organisation and reinforced the company’s commitment to its workforce through balanced and sustainable outcomes for employees.

In Ecuador, I played a key role in the implementation of a business continuity project involving the relocation of our cocoa operations following a serious security incident. The situation required immediate action, careful coordination and legally sound execution under challenging circumstances. I advised on the legal and operational dimensions of the transition, supporting a cross-functional response focused on protecting employees, securing continuity of supply and mitigating risk. The project enabled the successful transfer of 100% of production to a new site while safeguarding employee wellbeing and minimising disruption to the business. In a context where security has become a very real operational factor, this project underscored the importance of legal leadership that is practical, responsive and closely connected to business needs.

Across the region, I have also continued to support complex governance, commercial and risk matters in businesses exposed to market volatility and increasing external scrutiny. These experiences have reinforced legal’s role as a strategic partner — not only mitigating risk, but also enabling continuity, resilience and better decision-making in fast-moving environments.

Can you describe an instance where your legal advice directly influenced business strategy or commercial objectives?

A strong example of legal advice shaping business strategy relates to the management of bad debt risk in our aquaculture business in Ecuador.

This is a structurally complex issue, driven by factors that are largely outside of the company’s control — including shrimp price volatility, changing market conditions and the broader political, economic and security environment in the country. In practice, this has a direct impact on our customers’ financial stability and, ultimately, on our exposure to credit risk.

In these situations, commercial teams are often under pressure to preserve relationships and protect volumes. That is understandable — but it can sometimes lead to decisions that look attractive in the short term while creating significant risks down the line.

What I have found is that the role of legal here is not simply to say “no” or to highlight risk. The real value comes from helping the business find a way forward.

In that context, I have worked closely with commercial and cross-functional teams to challenge assumptions where needed and, more importantly, to design alternatives that achieve the same commercial objective with a stronger risk profile. This has included strengthening contractual structures, introducing more disciplined approaches to payment terms and security mechanisms and supporting differentiated strategies depending on customer profiles and market realities.

Over time, this has changed how we approach these decisions internally. The conversation is no longer framed as a binary choice, but rather as a question of how to pursue growth in a more controlled and sustainable way.

For me, this is a good example of how legal can contribute at a strategic level — not only by mitigating risk, but also by helping the business operate with better judgment in complex and uncertain environments.

What key trends should in-house counsel be monitoring over the coming months?

In my view, there are a few trends that are becoming increasingly relevant, particularly in markets like Latin America where external conditions can change quickly.

First, the growing intersection between ESG expectations and commercial realities. Even for companies that are not directly involved in primary production — like in the aquaculture value chain — there is increasing pressure around traceability, responsible sourcing and environmental impact. What is changing is that these are no longer abstract or reputational topics; they are starting to directly influence customer decisions, contractual frameworks and access to certain markets.

Second, I would highlight the continued volatility of key sectors and how that translates into legal risk. In businesses linked to global commodities, price fluctuations, shifting demand and local dynamics can quickly impact counterparties’ financial stability. This has a direct effect on credit exposure, contract performance and dispute risk. For in-house counsel, this means staying very close to the business and understanding not only the legal framework, but also the underlying economics.

Finally, I think the operating environment in countries like Colombia, Ecuador and Peru requires close attention to broader political, regulatory, and security developments. These factors can have a very practical impact on operations, investment decisions and even day-to-day execution. Legal teams need to be able to interpret these signals early and help the business anticipate, rather than react.

Overall, what these trends have in common is that they require legal teams to look beyond the purely legal dimension and engage more actively with the business context. That is where, in my experience, legal can add the most value.

How do you manage situations where legal advice and commercial objectives conflict?

In practice, situations where legal advice and commercial objectives diverge are quite common — especially in markets like those I support, where volatility and uncertainty are part of the operating environment.

I see my role in those moments not as drawing a hard line between “legal” and “business,” but as helping bridge that gap. Very often, the tension comes from short-term commercial pressures — protecting volumes, maintaining relationships — versus longer-term risk exposure. Both perspectives are valid, which is why a purely restrictive approach rarely works.

What I have found is that the most effective way to manage these situations is to move the conversation away from a binary “yes or no” and instead focus on how to achieve the same business objective in a more controlled and sustainable way.

A clear example of this is the management of bad debt risk in our aquaculture business in Ecuador. External factors—such as shrimp price volatility, shifting market conditions, and the country’s

How can general counsel help drive responsible governance and ethical decision-making across an organisation?

I believe general counsel play a key role in shaping how decisions are made within an organisation — not only by defining rules, but by influencing judgment.

In my experience, driving responsible governance starts with being consistently close to the business. It is difficult to influence decision-making from a distance. When legal is involved early, understands the commercial context and builds trust with stakeholders, it is much easier to have open, pragmatic conversations about risk and responsibility.

Another important element is framing issues in a way that resonates beyond legal or compliance language. Business leaders are not only thinking in terms of regulations, but they are also thinking about growth, performance and relationships. The role of legal is to translate ethical or compliance considerations into tangible business implications — what it means for reputation, continuity, or long-term value.

I also think consistency matters. Ethical standards cannot depend on the situation or the level of pressure at a given moment. As legal leaders, we need to help establish clear principles and ensure that decisions align with those principles over time. That does not mean being rigid, but it does mean being deliberate.

In practice, much of this comes down to influencing culture. Through day-to-day interactions, the questions we ask and the way we frame options, legal can help create an environment where doing the right thing becomes part of how the business operates — not an exception.

Ultimately, responsible governance is not only about avoiding risk. It is about enabling the organisation to operate with credibility and discipline, particularly in complex environments. That is where I see the general counsel role having a meaningful and lasting impact.

María del Mar Bonilla - Colombia

Senior counsel - Andean region | Cargill

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