In order to strengthen the group’s Executive management team and sustain its strategic business growth trajectory, Africa’s foremost indigenous conglomerate, Dangote Industries Limited (DIL) has announced new appointments.
In the new organizational rejig, Olakunle Alake the erstwhile Chief Operating Officer (COO) is now the Group Managing Director and Dr. Adenike Fajemirokun, the Group Chief Risk Officer has been elevated to the office of Group Executive Director, President’s Office, where she will take on 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.
Earlier the Board of Dangote Cement Plc, global, announced the appointment of Cherie Blair and Mick Davies as Independent Non-Executive Directors.
According to the Group President/Chief Executive, Aliko Dangote, the new appointments are to strengthen the Group’s executive management team and to consolidateon its strategic business growth trajectory.
Alake has been the Chief Operating Officer of Dangote Industries
Limited since 2007. He serves on the board of Dangote Sugar Refinery Plc, NASCON Allied Industries PLC, Dangote Cement PLC and Dangote Flour Mills PLC. Mr. Alake’s experience spans 34 years which covers banking, management consultancy and manufacturing industries.
He joined Dangote Group in July 1997 and served as its Financial Controller and Head of Strategic Services till 2001 when he was appointed to the board of Dangote Industries Limited as Executive Director/ Group Strategist.
He started his working career at PricewaterhouseCoopers, a firm of Chartered Accountants in September 1984 and left in 1990 to join Liberty Merchant Bank Limited as the Financial Controller for three years.
Between August 1993 and July 1997, Mr. Alake served as the Managing Director/Chief Executive Officer of Liberty Merchant Securities Limited and was part of the team that provided consultancy services for the smooth take-over of the International Trust Bank Plc, by Dangote Group in August 1996. He is a Fellow of the Institute of Chartered Accountants of Nigeria. Mr. Alake holds a
Bachelor’s degree in Civil Engineering from Obafemi Awolowo University, Ile-Ife in 1983.
Dr. Fajemirokun, a consummate Risk Management & Insurance specialist 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.
She later joined 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 specializing in the Risk Management field, she held positions in finance as a front office quantitative analyst at Goldman Sachs London and New York.
Adenike 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, She 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.
Adenike became the 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.
A holder of B.Eng. in Civil, Structural and Fire Engineering and a Ph.D. in Risk Informed Engineering both from the University of Manchester, UK, Adenike is a Fellow of the Engineering and Physical Sciences Research Council (EPSRC) and Specialist member (SIRM) of the Global Institute of Risk Management. She is also a visiting professor at the University of Manchester, UK. She has been recognized 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.
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