BOCA RATON, Fla.–(BUSINESS WIRE)–The GEO Group, Inc. (NYSE: GEO) (“GEO”) announced today that GEO’s Chairman, Chief Executive Officer and Founder, George C. Zoley, will transition to the position of Executive Chairman of GEO’s Board of Directors under a new five-year employment agreement with subsequent automatic one-year renewals, and Jose Gordo will be appointed Chief Executive Officer effective July 1, 2021, reporting to Mr. Zoley.
“The transition to Executive Chairman will allow me to focus on the strategic planning and execution of our company’s future direction, while allowing Jose Gordo and our Senior Management Team to focus on day-to-day operations and the delivery of our services. We are pleased to have Mr. Gordo join our management team. He brings a wealth of experience and knowledge to our company,” said Mr. Zoley.
Mr. Gordo stated, “I am delighted to join GEO’s Senior Management Team having served on GEO’s Board of Directors since October 2019 and having been involved in providing outside counsel to GEO for approximately 20 years. I’m looking forward to working closely with Mr. Zoley, our Board, and our management as we execute on the future strategic direction of our company.”
Jose Gordo currently serves as an Independent Director and Chair of the Nominating and Corporate Governance Committee of GEO’s Board of Directors. Mr. Gordo has over 20 years of experience in business management, private equity, corporate finance, and business law. Since June 2017, Mr. Gordo has served as the Managing Partner of a general partnership that invests in and actively oversees small and medium-sized privately held companies, with a focus on the healthcare, technology, and financial services industries. From 2013 to early 2017, Mr. Gordo served as the Chief Financial Officer of magicJack Vocaltec Ltd., a publicly traded company in the telecommunications industry. Prior to that position, Mr. Gordo served as a Managing Director at The Comvest Group, a Florida-based private equity firm. Previously, Mr. Gordo was a partner at the national law firm of Akerman LLP, where he specialized in corporate law matters, advising public and private companies and private equity firms on mergers and acquisitions and capital markets transactions. He also previously represented GEO as outside counsel for several years.
He received a J.D. degree from Georgetown University Law Center and a B.A. degree from the University of Miami. Mr. Gordo has extensive experience in business management, finance, corporate strategy, operations, and business law. His extensive experience in these areas and his deep understanding of GEO will strengthen the company’s collective knowledge, capabilities, and experience.
About The GEO Group
The GEO Group (NYSE: GEO) is a fully integrated equity real estate investment trust specializing in the design, financing, development, and operation of secure facilities, processing centers, and community reentry centers in the United States, Australia, South Africa, and the United Kingdom. GEO is a leading provider of enhanced in-custody rehabilitation, post-release support, electronic monitoring, and community-based programs. GEO’s worldwide operations include the ownership and/or management of 116 facilities totaling approximately 92,000 beds, including idle facilities and projects under development, with a workforce of up to approximately 21,000 professionals.
