WASHINGTON (dpa-AFX) - The GEO Group, Inc. (GEO) announced Thursday that Chief Executive Officer Jose Gordo will be departing as Chief Executive Officer and as a Board member on mutually agreeable terms and transitioning to the role of an advisor, effective December 31, 2023.
Under the agreed terms of his departure, Gordo will enter into a fixed, 18-month advisory services agreement upon payment terms agreed to by the parties, pursuant to which Gordo will advise the Company with respect to litigation, client relations, operational issues, growth opportunities, financial management, and debt restructuring.
Brian Evans, who has been with the Company for 23 years and has served as the Company's Chief Financial Officer for 14 years, has been appointed Chief Executive Officer, effective January 1, 2024.
Shayn March, Executive Vice President, Finance and Treasurer, has been appointed Acting Chief Financial Officer, effective January 1, 2024. The Company and its Board of Directors will work with an external search firm to identify a permanent Chief Financial Officer.
Also effective January 1, 2024, Wayne Calabrese has been appointed President and Chief Operating Officer. Calabrese joined the Company in 1989, retiring as its President and Chief Operating Officer at the end of 2010.
Following his service as a Company advisor, Calabrese rejoined the Company on a full-time basis in 2021 as head of the Legal Department. In 2022, he was appointed to his current position as Senior Vice President and Chief Operating Officer.
In addition, the Company confirmed that Dr. George Zoley, the Company's Founder and Executive Chairman, will step down as Executive Chairman on June 30, 2026, at the end of his current employment term.
Beginning on July 1, 2026, Zoley will continue his unparalleled 40-plus year industry leadership role as an Advisor to the Company while continuing to serve as the Company's non-Executive Chairman of the Board of Directors, subject to shareholder approval.
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