A CoreCivic executive who joined the company in 2007 has been named COO to reflect the company’s push beyond prison management.
The appointment of Patrick Swindle will become effective Jan. 1 and will make him the first person to hold the COO title since Damon Hininger, who was president and COO before being named CEO in mid-2009. Swindle, 45, joined Brentwood-based CoreCivic nearly 14 years ago after nearly a decade in equity research, including nearly four as a managing director at Avondale Partners.
He has been a CoreCivic executive vice president and its chief corrections officer since the beginning of 2018. Before that, he was senior VP of operations and vice president of treasury and strategic development, among other roles.
CoreCivic executives this summer decided to convert the company’s structure from a real estate investment trust — a switch they had made in 2012 — back to a taxable C corporation.
The move, Hininger said, will give the company more financial flexibility it plans to use, among other things, to explore expanding its health care services into areas such as chronic care management and mental health.
In its third quarter, CoreCivic generated about $48 million of its $468 million of revenue from activities other than prison management.
Shares of CoreCivic (Ticker: CXW) were down about 2 percent to $7.27 in pre-market trading. They began 2020 around $16 and were trading well above $30 in the first half of 2017.