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4-Traders Homepage  >  Equities  >  Nyse  >  Corrections Corp Of America    CXW

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Corrections Corp Of America : CCA Appoints Robert J. Dennis to Its Board of Directors

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02/25/2013 | 08:40am EDT
CCA Appoints Robert J. Dennis to Its Board of Directors

NASHVILLE, TN -- (MARKETWIRE) -- 02/25/13 -- CCA (Corrections Corporation of America) (NYSE: CXW), America's largest owner of partnership correctional and detention facilities, announced today that Robert J. Dennis, chairman, president and CEO of Genesco Inc., has been appointed as an independent member of CCA's Board of Directors.

"We are very pleased to announce Bob Dennis as our newest board member. CCA is strongly committed to finding the best people to lead our company and help our industry become an increasingly valuable component of our nation's corrections system," said John Ferguson, chairman of CCA's Board of Directors. Bob brings significant experience in leadership positions and is a current leader of a publicly traded company. We believe his experience, vision and leadership will be an asset in overseeing management's initiatives and will benefit our organization for years to come."

Robert Dennis was named chairman of Genesco (NYSE: GCO) in April 2010, adding to his responsibilities as president and chief executive officer since 2008. At Genesco, Dennis served in a variety of leadership roles including executive vice president and chief operating officer from October 2005 until October 2006 when he was named president and chief operating officer. Dennis began his career at Genesco in June 2004, when he was named a senior vice president, following the acquisition of Hat World in 2001, where he served as chief executive officer from 2001 to 2004.

A veteran of the retail industry with nearly 30 years of business experience, Dennis held a senior position with Asbury Automotive from 1997 to 1999. From 1984 to 1997, Dennis was with McKinsey & Company, an international consulting firm, where he served as a partner and leader of the North American Retail Practice.

Dennis served as a director of Teavana Holdings, Inc. from July 2011 until its acquisition by Starbucks in December 2012. He currently serves on the board of directors of the United Way of Metropolitan Nashville, the Nashville Symphony, and serves on the Board of Visitors at Vanderbilt University's Owen School of Management.

Dennis holds a master of business administration degree, with distinction, from the Harvard Business School and bachelor's and master's degrees in biology and organic chemistry from Rensselaer Polytechnic Institute.

About the Company

CCA is the nation's largest owner of partnership correction and detention facilities and one of the largest prison operators in the United States, behind only the federal government and three states. We own or control 51 facilities and currently operate 67 facilities, with a total design capacity of approximately 92,500 beds in 20 states and the District of Columbia. CCA specializes in owning, operating and managing prisons and other correctional facilities and providing inmate residential services for governmental agencies. In addition to providing the fundamental residential services relating to inmates, our facilities offer a variety of rehabilitation and educational programs, including basic education, religious services, life skills and employment training and substance abuse treatment.

CCA takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release.

Contact:
Investors
Karin Demler
(615) 263-3005

Media
Steve Owen
(615) 263-3107


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Financials ($)
Sales 2017 1 770 M
EBIT 2017 258 M
Net income 2017 180 M
Debt 2017 1 354 M
Yield 2017 5,90%
P/E ratio 2017 18,62
P/E ratio 2018 19,21
EV / Sales 2017 2,66x
EV / Sales 2018 2,73x
Capitalization 3 349 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 36,5 $
Spread / Average Target 29%
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Managers
NameTitle
Damon T. Hininger President, Chief Executive Officer & Director
Mark A. Emkes Independent Chairman
David M. Garfinkle Chief Financial Officer & Executive Vice President
Donna M. Alvarado Independent Director
C. Michael Jacobi Independent Director
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