Tenda appoints Cheryl Baker as VP of ERM

Tenda, part of the Ilitch Companies’ family of businesses, has announced that Cheryl Baker (pictured) 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 provider of health, property and casualty, executive life, and other customised risk management programs.

According to Tenda Baker 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 honours, 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 honoured with the 2025 Outstanding Captive Award by CICA, reflecting Tenda’s commitment to innovation and customized risk solutions.

In this new role, Baker 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.”

Baker 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,” Baker said. “It’s a privilege to join this team and continue building on the strong foundation that’s already in place.”

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