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As the Ilitch Companies continue to grow in scale and global reach, the organization is enhancing its enterprise risk management strategy to support long-term success and operational excellence across its family of companies. Reflecting that evolution, Tenda—one of the Ilitch Companies’ family of businesses—announced today that Cheryl Baker has been named Vice President of Enterprise Risk Management.
Founded in 2020, Tenda was established to deliver high-quality, cost-effective insurance solutions for the Ilitch Companies and their stakeholders. Since then, it has grown into a trusted provider of health, property and casualty, executive life, and other customized risk management programs.
With more than 25 years of experience in the insurance and risk management industry, Cheryl brings deep expertise and strategic leadership in enterprise risk management, corporate claims and captive insurance solutions.
Cheryl is also a well-regarded leader in the broader risk management community. She serves on the board of the Captive Insurance Companies Association (CICA), chairs its Amplify Women Committee, and acts as Secretary of the Detroit Chapter of the Risk and Insurance Management Society. Her accomplishments have earned her several industry honors, including being named Risk Manager of the Year by Captive Review in 2022, recognized as a Top 20 Best and Brightest Captive Owner by Captive Review from 2022 through 2025, and selected as one of Captive International’s Influential Women in Captive Insurance in 2024.
Her appointment comes at a meaningful time for Tenda, as the company continues to gain national recognition for its leadership in captive insurance. Most recently, Tenda was honored with the 2025 Outstanding Captive Award by CICA, reflecting Tenda’s commitment to innovation and customized risk solutions.
In this new role, Cheryl will lead enterprise risk and captive insurance operations, with the Risk Management team now reporting directly to her. Her appointment reflects a commitment to a more connected and strategic approach to risk, one that improves coordination, strengthens oversight, and aligns risk strategy across the Ilitch Companies.
“Cheryl’s experience, integrity, and deep understanding of complex risk environments make her exceptionally well-suited to take on this important role,” said Chris Ilitch, CEO, Ilitch Companies. “Her leadership will help us sharpen our enterprise risk approach while continuing to support the strategic growth of Tenda and the broader Ilitch Companies.”
Cheryl most recently served as Head of North American Risk Management at Stellantis, where she led risk financing and captive strategies for the global automotive group. Prior to that, she spent over a decade at Blue Cross Blue Shield of Michigan, managing professional liability, cyber risks, corporate claims and captive insurance operations. She also held several leadership roles during her 13-year tenure at Marsh, including Assistant Vice President in Detroit.
“As risk exposures become more interconnected and dynamic across the Ilitch Companies, I’m excited to help advance a more integrated, enterprise-wide risk strategy,” Cheryl said. “It’s a privilege to join this team and continue building on the strong foundation that’s already in place.”
Cheryl holds an MBA from Louisiana State University–Shreveport and a Bachelor of Arts from the University of Michigan–Dearborn. She also holds several top industry designations, including Associate in Risk Management, Certified Insurance Counselor, Certified Risk Manager and Associate in Captive Insurance.
She resides in Michigan with her husband, Eric, and their three children.