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Blackwater Founder Steps Down as CEO

Now called Xe, security company regroups, changes focus

By Katherine Thompson,  Newser Staff

Posted Mar 2, 2009 11:30 AM CST
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(Newser) – Blackwater Security founder Erik Prince stepped down today as CEO of the private security company he built into one of the world's most respected—only to see it become reviled for a 2007 Baghdad massacre in which his testimony incurred congressional wrath, the AP reports. Prince expressed pride in Blackwater, recently renamed Xe, " and confidence in Xe's future."

In this April 4, 2004 file photo, plainclothes contractors for Blackwater USA take part in a firefight as Iraqi demonstrators attempt to advance on a facility.
In this April 4, 2004 file photo, plainclothes contractors for Blackwater USA take part in a firefight as Iraqi demonstrators attempt to advance on a facility.   (AP Photo/Gervasio Sanchez)
In a July 2008 file photo, founder and CEO of Blackwater Worldwide Erik Prince is seen at Blackwater's offices in Moyock, N.C.
In a July 2008 file photo, founder and CEO of Blackwater Worldwide Erik Prince is seen at Blackwater's offices in Moyock, N.C.   (AP Photo/Gerry Broome)
Blackwater Worldwide's headquarters is seen in Moyock, N.C., in this July 21, 2008 file photo. Blackwater is abandoning its tarnished brand name as it tries to shake a battered reputation.
Blackwater Worldwide's headquarters is seen in Moyock, N.C., in this July 21, 2008 file photo. Blackwater is abandoning its tarnished brand name as it tries to shake a battered reputation.   (AP Photo/Gerry Broome)
Adil Jabr, 55, center, arrives for a meeting with a US prosecutor to discuss the case against the Blackwater Worldwide guards indicted in the fatal September 2007 shooting in Baghdad's Nisoor Square.
Adil Jabr, 55, center, arrives for a meeting with a US prosecutor to discuss the case against the Blackwater Worldwide guards indicted in the fatal September 2007 shooting in Baghdad's Nisoor Square.   (AP Photo/Khalid Mohammed)
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COMMENTS
Showing 3 of 3 comments
AdaptAndOvercome
Mar 2, 2009 7:53 PM CST
Dog crap covered in chocolate is still only dog crap.
Observer
Mar 2, 2009 12:33 AM CST
Funny how the vultures fly away when the pickings on the carcass get too slim. Blackwater bilked the taxpayers millions for what value.?Protecting VIPs and collaborators. What good did it do for the US? Mr. Prince can go back to his billions and play with himself again. He should repent and do community service minus the assault rifles.
JonmarkP
Mar 1, 2009 11:53 PM CST
I love that these evil creepy so-called macho men are now called Xe, pronounced "she". Must not have thought that one through.

Prince to focus on private equity
Reuters

The shift to Xe
Washington Post

 
Iraq • CEO • Blackwater • resignation • Erik Prince

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