CoreCivic operating chief to succeed Damon Hininger as CEO

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CoreCivic (NYSE:CXW [https://seekingalpha.com/symbol/CXW]) Chief Operating Officer Patrick Swindle will succeed Damon T. Hininger [https://seekingalpha.com/filing/10317588]as the company's CEO when Hininger steps down from the CEO role and the board as of Jan. 1, 2026, the operator of detention centers and prisons said on Monday.

Swindle will continue as the company's president. He'll also be appointed to the board to fill the vacancy created by Hininger's resignation as of the transition date.

Under an agreement with CoreCivic (NYSE:CXW [https://seekingalpha.com/symbol/CXW]), Hininger will serve as a special advisor to the CEO and chairman of the board beginning on the transition date through March 31, 2027, unless the transition agreement is earlier terminated.

During the transition period, Hininger won't receive any new equity or future rights or payments he might otherwise have been entitled to in the company's amended and restated executive severance and change in control plan.

Neither Hininger's nor Swindle's change in duty were the result of any arrangement or understanding between the two men, CoreCivic said in a filing.

CoreCivic (CXW [https://seekingalpha.com/symbol/CXW]) was little changed (up less than $0.01) in after-hours trading at $20.67.

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