The GEO Group Senior VP James H. Black to Retire; Paul Laird Promoted

On November 26, 2024, The GEO Group, Inc. (NYSE:GEO) announced in an 8-K SEC filing that Mr. James H. Black, Senior Vice President and President of Secure Services, will be retiring from his executive role, effective December 31, 2024. Mr. Black, who joined GEO in June 1998, will transition to a consultant position under a Consultant Agreement starting January 1, 2025.

In light of Mr. Black’s retirement, Mr. Paul Laird has been promoted to the role of Senior Vice President and President of Secure Services, with the appointment effective January 1, 2025. Mr. Laird, who has been with the company since August 2015, has held various positions within GEO, most recently serving as Regional Vice President for the Eastern Region.

The company also disclosed that on December 3, 2024, GEO and Mr. Black entered into a Confidential Separation and General Release Agreement. As per the agreement, Mr. Black will receive compensation for consulting services until December 31, 2026, along with benefits such as COBRA coverage and vesting in stock options and restricted stock.

Under the terms of the Consultant Agreement, Mr. Black will provide consulting services related to business development and contract administrative assistance for a monthly fee of $46,415. The agreement will extend through December 31, 2026, unless mutually extended, with provisions pertaining to confidentiality and conflicts of interest.

Both the Separation Agreement and Consultant Agreement will be filed as exhibits to GEO’s Form 10-K for the year ending December 31, 2024. Additionally, after the Effective Date, Mr. Black will be entitled to his retirement benefits under the Senior Officer Retirement Plan.

Mark J. Suchinski, Senior Vice President and Chief Financial Officer of The GEO Group, signed the report on behalf of the company on December 3, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read The GEO Group’s 8K filing here.

About The GEO Group

The GEO Group, Inc (NYSE: GEO) engages in ownership, leasing, and management of secure facilities, processing centers, and community-based reentry facilities in the United States, Australia, the United Kingdom, and South Africa. The company also provides secure facility management services, including the provision of security, administrative, rehabilitation, education, and food services; reentry services, such as temporary housing, programming, employment assistance, and other services; electronic monitoring and supervision services; and transportation services; as well as designs, constructs, and finances new facilities through projects.