CoreCivic CEO Damon Hininger to Step Down, Patrick Swindle to Take Over in 2026

CoreCivic announced that Patrick Swindle will succeed Damon Hininger as CEO effective January 1, 2026. Swindle was appointed president and COO in January 2023. Hininger, who has served as CEO since 2009, will resign from the board and become a special advisor to the CEO and chairman.

CoreCivic, a diversified government-solutions company, has announced that Patrick Swindle will succeed Damon Hininger as CEO effective January 1, 2026. Swindle, currently serving as President and Chief Operating Officer, will assume the CEO role, marking a significant leadership transition for the company. Hininger, who has held the position of CEO since 2009, will resign from the board and transition to a special advisor role, working closely with Swindle and the board chairman, Mark Emkes, to ensure a smooth handover.

Patrick Swindle brings extensive experience to the role, having spent over 18 years within CoreCivic. He has held various key positions, including Managing Director, Treasury, and Executive Vice President of Operations. His leadership has been instrumental in transforming the company's operations, restructuring its operational leadership team, and efficiently scaling activations of idle facilities during a period of rapid growth. Chairman Mark Emkes praised Swindle's "vision and expertise," highlighting his ability to "develop people and solve challenging problems."

As the incoming CEO, Swindle's annual base salary for 2026 is set at $900,000. He is also eligible for a short-term cash incentive target equal to 132% of his base salary, consistent with his 2025 target. Additionally, he will receive a long-term equity incentive grant of $2.5 million in restricted stock units in the first quarter of 2026, with 40% vesting based on time and 60% based on performance criteria. This structure aligns executive incentives with long-term company performance.

Damon Hininger, who has been with the company since 1992, expressed his pride in serving CoreCivic. His transition agreement ensures he will receive his current base salary and 100% of his 2026 annual cash bonus (based on 2025 performance), with existing equity awards remaining in effect. Importantly, he has waived any future severance payments under the company's executive severance plan, underscoring the collaborative nature of this transition.

This structured approach to leadership change aims to minimize disruption and ensure stable governance for CoreCivic's operations. The transition plan provides investors with important details to assess the stability and cost of this executive succession. The appointment of Patrick Swindle as CEO signals continuity and leverages internal talent, positioning CoreCivic for future growth and success.

References:
[1] https://www.panabee.com/news/corecivic-patrick-swindle-named-ceo-hininger-becomes-special-advisor-for-smooth-transiti
[2] https://www.wsj.com/business/c-suite/corecivic-names-swindle-ceo-succeeding-hininger-8df20e20
[3] https://www.globenewswire.com/news-release/2025/08/18/3135322/0/en/CoreCivic-Announces-Patrick-D-Swindle-to-Succeed-Damon-T-Hininger-as-Chief-Executive-Officer.html