The GEO Group, Inc. announced that following discussions between GEO and its Chief Executive Officer, Jose Gordo, the parties have agreed that Mr. Gordo will be departing as 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, Mr. Gordo will enter into a fixed, 18-month advisory services agreement upon payment terms agreed to by the parties, pursuant to which Mr. Gordo will advise the company with respect to litigation, client relations, operational issues, growth opportunities, financial management, and debt restructuring. 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. Mr. 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, Mr. Calabrese rejoined the Company on a full-time basis in 2021 as head of the Legal Department. In 2022, Mr. Calabrese 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 under his Executive Chairman Employment Agreement.

Beginning on July 1, 2026, Dr. 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.