Blackwater founder Prince steps down as CEO »
Posted By tehranchik 8 months, 1 week ago in Political NewsErik Prince, the founder of Blackwater who used an auto parts inheritance to build the security firm into one of the world's most respected — and reviled — defense companies in the world, said Monday he has stepped aside as chief executive.
Prince appointed a new president and chief operating officer in a management shake-up he said was part of the company's "continued reorganization and self-improvement." It comes just a couple weeks after changing its name to Xe, pronounced like the letter "z," in an effort to repair its severely tarnished name and reputation.
"As many of you know, because we focus on continually improving our business that Xe is in the process of a comprehensive restructuring," Prince wrote in a note to employees and clients. "It is with pride in our many accomplishments and confidence in Xe's future that I announce my resignation as the company's Chief Executive Officer."
Joseph Yorio, recently a vice president at DHL and a former Army special forces officer, will serve as president, replacing retiring executive Gary Jackson. Danielle Esposito, who has worked within Xe for nearly 10 years, will be the new chief operating officer and executive vice president.
Prince, who will retain his position as chairman of the company but remove himself from the day-to-day operations, founded Blackwater in 1997, initially to provide training to law enforcement and military. But after Sept. 11, the bombing of the USS Cole and the start of the Iraq War, the company built a large presence in providing private security.
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tehranchik
Well, I'm from and live in the Pacific Northwest. I did live in the middle east during the late 70's and early 80 ...
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AbuAmirahComment removed: Spammer, Hard Banned
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NoWayMan8 months, 1 week ago
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change the name, re-brand, remove the CEO...it doesn't matter.
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blackwater, or Xe, by any other name, is still a private army of mercenaries. nothing less.
and now...imagine if some super-rich black American tried to start his own private army. how would everyone feel about that?-
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SpareChange8 months, 1 week ago
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Great points!
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interesting how there's a change of guard at companies like this when there's a change of guard in washington. I guess they're still hopeing for the sweet, no bid contracts, but now with Obama, that's not looking likely. -
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Sageparadox8 months, 1 week ago
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Well I dont know about. The Obama administration might just fail at getting the economy out of the dumpster. That just might encourage the right to get back into power, and they just might be in the mood to invade a few small defenceless countries.
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