Tenda, the captive insurance arm of the Ilitch Companies, has appointed Cheryl Baker as vice president of enterprise risk management, marking a strategic step in the group’s evolving approach to integrated risk oversight. In her new role, Baker will lead both enterprise risk and captive insurance operations, with the risk management team reporting directly to her. The appointment reflects a broader effort to align risk strategy across the Ilitch Companies’ growing portfolio and to strengthen coordination as the group expands its national and international footprint. Founded in 2020, Tenda provides bespoke insurance solutions — including health, property and casualty, and executive life cover — across the Ilitch group. The firm recently gained industry recognition by winning the 2025 Outstanding Captive Award from the Captive Insurance Companies Association (CICA). Baker brings more than 25 years of insurance and risk management experience to the role. She most recently served as head of North American risk management at Stellantis, where she oversaw risk financing and captive strategies. Her earlier career includes over a decade at Blue Cross Blue Shield of Michigan and 13 years at Marsh. An active voice in the captive industry, Baker serves on the board of CICA, chairs its Amplify Women Committee, and is secretary of the Detroit Chapter of the Risk and Insurance Management Society. She has received several accolades for her leadership. The firm says her appointment underscores Tenda’s continued focus on enhancing captive innovation and delivering risk solutions tailored to the operational complexity of the Ilitch Companies.
