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
Blackwater Founder Steps Down as CEO
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)

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."
(More Blackwater stories.)

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