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Posted at 1:08 PM ET, 09/14/2010

President of ex-Blackwater firm leaves post

By Jeff Stein

Joseph Yorio, president of the firm formerly known as Blackwater, has left the company as part of a restructuring in preparation for its sale, sources say.

Sources said that Yorio, a former vice president at DHL, resigned Friday as president of Xe Services, as Blackwater is now known. He was appointed president of the Moyock, N.C.-based firm in March 2009.

Yorio could not be reached immediately for comment, but a receptionist at Xe Services confirmed that he was no longer with the company.

“It was just time to move on,” an associate of Yorio at the company said.

Xe Chairman Erik Prince put the firm on the block earlier this year. SpyTalk reported last week that a leading bidder for the company was Parsons, a California-based provider of “technical, engineering, construction, and management support throughout the world to federal, regional, and local government agencies as well as private industries,” according to its Web site.

Whoever buys the company, sources said, Prince is still keeping ownership of the bear-paw Blackwater trademark.

By Jeff Stein  | September 14, 2010; 1:08 PM ET
Categories:  Financial/business, Intelligence  
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