The company formerly known as Blackwater continues its mission to bury its tarnished reputation and soldier on. Early this morning, Blackwater founder Erik Prince released a brief statement announcing he is stepping down as CEO of the infamous mercenary firm he started in 1997. A press release from the company — which last month renamed itself “Xe” — said Prince “will now focus his efforts on a private equity venture unrelated to the company.”
In a personal message sent to his employees and clients, Prince sought to cast his departure as a natural part of the firm’s ongoing evolution. “As many of you know, because we focus on continually improving our business that Xe is in the process of a comprehensive restructuring,” he wrote. “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.”














