HOUSTON, May 4, 2007 (PRIME NEWSWIRE) -- Cornell Companies, Inc. (NYSE:CRN) announced today that Max Batzer has been appointed to its board of directors, filling the vacant board seat created by the resignation in March of former director Leon Clements. In joining the board, Mr. Batzer becomes a member of the nominating/governance committee. Mr. Batzer was appointed to the board pursuant to an agreement among Cornell, North Star Partners and Wynnefield Capital entered into in March 2007.
James E. Hyman, Cornell's chairman and chief executive officer, stated, "We welcome Max Batzer to the board, where we believe he will add valuable insight and experience. Max's election completes the governance changes that commenced earlier this year, which have resulted in increased shareholder representation in our board composition."
Mr. Batzer, 63, has been with Wynnefield Capital, Inc., where he currently serves as a Portfolio Manager, since 1999. From 1991 to January 1999, he was Chairman of the Board and CEO of Diagnostic Health Services. From 1981 until 1988, he was director and executive committee member of Simmons Airlines, Inc., a publicly traded regional airline. From 1981 through 1991, Mr. Batzer was President of General Hide and Skin Corporation, a worldwide commodity trading organization. Mr. Batzer received his BSE from the Wharton School at the University of Pennsylvania and his MBA from the University of Arizona.
About Cornell Companies
Cornell Companies, Inc. (http://www.cornellcompanies.com) is a leading private provider of corrections, treatment and educational services outsourced by federal, state and local governmental agencies. Cornell provides a diversified portfolio of services for adults and juveniles, including incarceration and detention, transition from incarceration, drug and alcohol treatment programs, behavioral rehabilitation and treatment, and grades 3-12 alternative education in an environment of dignity and respect, emphasizing community safety and rehabilitation in support of public policy. The Company has 80 facilities in 16 states and a total service capacity of 18,747.
The Cornell Companies, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1468