Africa’s foremost indigenous conglomerate, Dangote Industries Limited, has appointed Adenike Fajemirokun as the Group Executive Director, President’s Office, in a bid to strengthen the group’s Executive management team and sustain its strategic business growth trajectory
Dr Fajemirokun will take on new roles in addition to her schedule as the Risk Officer of the Dangote group.
The management made this known in a statement made available to the public on Wednesday, May 2, 2018.
Profile of Dr Adenike Fajemirokun, the first female executive director of Dangote group
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.
She started her career with Ove Arup and Partners as a Fire Engineer where she was responsible for carrying out a 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 specialising in the Risk Management field, she held positions in finance as a front office quantitative analyst at Goldman Sachs London and New York.
Dr Fajemirokun 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.
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.
A holder of B.Eng. in Civil, Structural and Fire Engineering and a PhD in Risk-Informed Engineering both from the University of Manchester, UK, Dr Fajemirokun 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 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.
Also, in the new organisational rejig, Olakunle Alake the erstwhile Chief Operating Officer (COO) is now the Group Managing Director while Austine Ometoruwa was announced as the 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.
Aliko Dangote, President/Chief Executive, Dangote Group, while speaking 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 added.
Last week, Dangote Cement Plc posted 29.09% increase in profit after tax for the first quarter ended March 31, 2018.
The company’s financial report released on the floor of the Nigerian Stock Exchange (NSE) indicated that the group posted profit after tax of N72.123 billion in 2018 as against N55.866 billion recorded a year earlier.