CoreCivic, Inc. (NYSE: CXW) has announced the appointment of Catherine Hernandez-Blades and Alexander R. Fischer as independent members of its Board of Directors, effective March 15, 2024. This expansion will bring the total number of directors to twelve, with ten determined to be independent. The company has also disclosed that Donna M. Alvarado, a long-term board member since 2003, will retire after the 2024 Annual Meeting of Shareholders, reducing the board to eleven members, including nine independent individuals.
Catherine Hernandez-Blades, 56, brings decades of executive leadership experience in government relations, communications, and marketing from her previous roles at SAIC, Aflac, and Flex (formerly Flextronics), as well as senior management positions at Raytheon and Lockheed Martin. She holds a bachelor’s degree in Mass Communications from the University of Louisiana, Lafayette.
Alexander R. Fischer, also 56, is the founder of Alex R. Fischer and Company, offering strategic advisory services on corporate strategy, real estate development, and economic development. He has served in various leadership roles, including President and CEO of the Columbus Partnership and Commissioner of Economic Development, Deputy Governor, and Chief of Staff for the State of Tennessee. Fischer holds a bachelor’s degree in Economics and Public Administration and a master’s degree in Urban Planning and Economic Development from the University of Tennessee.
This move is a part of CoreCivic’s ongoing commitment to strengthening its board with diverse expertise and experience. Damon Hininger, CoreCivic’s President and Chief Executive Officer, expressed gratitude for Donna Alvarado’s 21 years of stewardship, stating that her counsel has been invaluable over the past two decades.
The addition of Hernandez-Blades and Fischer comes at a time when CoreCivic is reinforcing its position as a diversified, government-solutions company. With a focus on providing high-quality corrections and detention management, as well as residential and non-residential alternatives to incarceration, the company aims to address America’s recidivism crisis and offer government real estate solutions. CoreCivic has emphasized its role as the nation’s largest owner of partnership correctional, detention, and residential reentry facilities, as well as the largest private owner of real estate used by government agencies in the United States.
As a result of these announcements, the company's shares have moved -0.4% on the market, and are now trading at a price of $14.79. For more information, read the company's full 8-K submission here.
