Ilitch hires ex-Stellantis risk manager for ERM role with captive insurer

Ilitch Cos. announced Friday it has hired former Stellantis risk management leader Cheryl Baker, as vice president of enterprise risk management of Tenda, its captive insurer.

Ms. Baker will lead the risk management team and oversee enterprise risk and captive insurance operations in the newly created role.

Founded in 2020, Tenda was established to deliver cost-effective insurance coverage for Detroit-based Ilitch and its stakeholders. Tenda provides health, property and casualty, executive life and customized risk management programs.

“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,” Ms. Baker said in a statement.

Ilitch’s privately held businesses include Little Caesars Pizza, the National Hockey League’s Detroit Red Wings and Major League Baseball’s Detroit Tigers.

Ms. Baker was most recently head of North American risk management at Stellantis, where she led risk financing and captive strategies for the global automotive group. Before that, she was manager of Blue Cross Blue Shield of Michigan and prior to that held several leadership roles at Marsh LLC.

Ms. Baker is also a board member of the Captive Insurance Companies Association and secretary of the Detroit chapter of the Risk and Insurance Management Society.

Tenda was honored with the 2025 Outstanding Captive Award by CICA.