Corrections Corporation of America (NYSE: CXW) (the "Company" or "CCA"), the nation's largest provider of corrections management services to government agencies, announced today that Todd Mullenger, who currently serves as the Company's Vice President and Treasurer, has been selected to succeed Irving Lingo as the Company's Chief Financial Officer effective March 16, 2007. Lingo, who turns 55 later this month, has decided to retire from the Company. He has agreed to remain with the Company for a one-year period of time primarily to assist in the transition and to provide other assistance as needed. David Garfinkle, who currently serves as the Company's Controller and Chief Accounting Officer, will continue in that capacity.<br /><br />Commenting on the transition, John Ferguson, the Company's President and Chief Executive Officer said, "On behalf of the Board of Directors and management, we thank Irv for his contributions and service to our company over the last six years and look forward to Todd's leadership of the finance group. Among Irv's many accomplishments during his tenure at CCA, first and foremost is his development of a great finance and accounting team with the leadership and resources to continue his efforts. Irv was also instrumental in rebuilding our capital structure, strengthening our balance sheet and reducing our interest costs considerably. He has been an effective communicator with our shareholders and has helped the Company garner much broader investor interest. We are grateful for all of Irv's efforts."<br /><br />Ferguson continued, "Todd Mullenger has both the knowledge and the financial expertise to succeed Irv ably. In his nearly nine years with CCA, Todd has been exposed to all aspects of the organization and will thus bring a wealth of institutional knowledge to the role. We look forward to his leadership as Chief Financial Officer."<br /><br />Lingo added, "My decision to leave CCA was not easy, as I believe the Company has an outstanding future. There comes a time, however, when personal interests need to be a priority, so I have decided that this would be a good time to retire. Todd has worked closely with me for the last six years on a variety of transactions and initiatives, and I have the utmost confidence that he will be instrumental in taking the Company to the next level."<br /><br />Mullenger, 48, earned a bachelor's degree in finance from the University of Iowa and an M.B.A. from Middle Tennessee State University. Prior to joining the Company, Mullenger had other public company experience and worked with a national accounting firm. Mullenger is a Certified Public Accountant.