Corrections Corporation of America Names Frank Betancourt New Vice President of Real Estate
NASHVILLE, Tenn.--(BUSINESS WIRE)--Sept. 24, 2007--Corrections Corporation of America (NYSE: CXW) has appointed Frank Betancourt Vice President of Real Estate. Betancourt will be responsible for managing the strategic, operational and developmental functions of CCA's Real Estate department.
Betancourt brings considerable experience to his new role at CCA with more than 20 years in corporate real estate, construction and facility management for major U.S. and international companies. He earned his B.F.A. in Education at the University of Memphis and a B.S. in Architectural Engineering from the University of Texas at Austin.
Most recently, Betancourt served as Vice President of Real Estate and Construction with ServiceMaster, a Fortune 500 company, based in Memphis, Tenn., where he created and led a full-service real estate and construction department to support 32,000 employees in 1,200 locations. Additionally, Betancourt has previously served as Director of Real Estate and Construction in Houston, Texas, where he managed international portfolios and coordinated activities of all real estate and construction personnel.
"We have recruited several highly skilled and talented real estate professionals, and are very pleased to have someone with his depth and breadth of experience to help us lead our growing organization," said CCA President and CEO John Ferguson. "Frank Betancourt's vast knowledge and comprehensive experience in performance management and leadership development will serve CCA well during this period of expansion. I look forward to the new opportunities and perspectives that he will bring to the entire organization."
CCA is the nation's largest owner and operator of privatized correctional and detention facilities and one of the largest prison operators in the United States, behind only the federal government and three states. The Company currently operates 65 facilities, including 40 company-owned facilities, with a total design capacity of approximately 72,500 beds in 19 states and the District of Columbia. The Company specializes in owning, operating and managing prisons and other correctional facilities and providing inmate residential and prisoner transportation services for governmental agencies. In addition to providing the fundamental residential services relating to inmates, the Company's facilities offer a variety of rehabilitation and educational programs, including basic education, religious services, life skills and employment training and substance abuse treatment. These services are intended to reduce recidivism and to prepare inmates for their successful re-entry into society upon their release. The Company also provides health care (including medical, dental and psychiatric services), food services and work and recreational programs.
The Company 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 or the information contained herein by any third-parties, including, but not limited to, any wire or Internet services.
MULTIMEDIA AVAILABLE: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=5500796 CONTACT: Corrections Corporation of America Louise Grant, 615-263-3106 or 615-289-4298 Louise.firstname.lastname@example.org SOURCE: Corrections Corporation of America