Adenike Fajemirokun, the Group Chief Risk Officer of Dangote Group, has been appointed the Group Executive Director, President’s Office, being the first female executive director in the conglomerate.
In a bid to boost the Group’s Executive management team and maintain its strategic business growth trajectory, Dangote Industries Limited (DIL), Africa’s foremost indigenous conglomerate, has announced new appointments.
Based on the new appointments, the erstwhile Chief Operating Officer (COO), Olakunle Alake, is now the Group Managing Director and the Group Chief Risk Officer, Adenike Fajemirokun, is now the Group Executive Director. Adenike will take on her new roles in addition to her schedule as the Risk Officer.
The management also announced the appointment of Austine Ometoruwa as Group Executive Director, Corporate Finance and Treasury; while the Board of Dangote Cement Plc, global, had earlier announced the appointment of Cherie Blair and Mick Davies as Independent Non-Executive Directors.
Aliko Dangote, the President/Chief Executive of Dangote Group, commenting on the new appointments said “it is exciting seeing a female occupy such a high position. We are gender sensitive and create equal opportunities for both male and female to get to the top.”
“The new appointments are to strengthen the Group’s executive management team and to consolidate on its strategic business growth trajectory”, he said.
A consummate Risk Management & Insurance specialist, Adenike has over 18 years diverse experience in developing and implementing risk management strategies in Financial, Engineering, Manufacturing and other industries.
Adenike started her career with Ove Arup and Partners as a Fire Engineer where she was responsible for carrying out qualitative and quantitative risk assessment of various assets and developing risk assessment frameworks for quantifying identified risks.
Later, Adenike joined the Deutsche Bank AG, UK, and served in senior leadership roles such as Director and Global Head Operational Risk, Head of Transaction Management Group for leverage finance at the Corporate and Investment Bank. Prior to her specialisation in the Risk Management field, she held positions in finance as a front office quantitative analyst at Goldman Sachs London and New York.
Adenike holds a bachelor’s degree in Civil, Structural and Fire Engineering and a PhD in Risk Informed Engineering both from the University of Manchester, UK. She is a visiting professor at the University of Manchester, UK. She has been recognised globally for her work with the Operational Riskdata Exchange Association (ORX), Institute of Risk Management, UK. She is a member of the Lagos State Research and Innovation Council. She is also a Fellow of the Engineering and Physical Sciences Research Council (EPSRC) and Specialist member (SIRM) of the Global Institute of Risk Management.
Adenike had worked with First Bank of Nigeria where she developed the operational risk management framework for the bank as well as its Business Continuity Certification by the British Standard Institute. She also managed and tracked the firm’s risks across all directorates, transaction services and alternative investments.
In 2010, Adenike founded and headed AFRisk Management Consultants Limited which developed the enterprise risk management frameworks for some of the country’s major institutions including Central Bank of Nigeria, First Bank Nigeria and First Bank Capital Plc.
She was appointed Chief Risk Officer of Dangote Group in 2013 and leads the Risk Management Functions for the Group and its various Businesses where she oversees the company’s governance model and enterprise risk program. She develops and manages processes to identify, assess, monitor and reduce risks that could interfere with the achievement of the company’s goals and objectives. She is also responsible for managing the Group’s Insurance, Procurement Portfolio and Logistics.