Founder of India’s Biggest Coffee Chain Is Confirmed Dead After Going Missing

https://fortune.com/2019/07/31/coffee-day-owner-vg-siddhartha-dead/

V.G. Siddhartha, the founder of India’s biggest coffee chain, has been confirmed dead days after he purportedly wrote a letter indicating he was anxious about pressure from banks, investors and the tax authorities.

Siddhartha told his driver he was going for a walk on Monday, near a bridge close to the southern Indian city of Mangaluru. He was reported missing after he failed to return to the car later that night. The city’s police commissioner Sandeep Patil said early Wednesday that Siddhartha’s body had been found, but didn’t elaborate on the circumstances of his death.

Coffee Day Enterprises Ltd., the company Siddhartha founded, released a letter on Tuesday purportedly written by him to the board. It talks of “succumbing to the situation” because of pressure from lenders and one of the company’s private equity partners, as well as harassment by tax officials. The letter, printed on a white sheet of paper bearing Siddhartha’s name boldly on top and Coffee Day’s address at the bottom, is addressed to the the company’s board and employees.

Cafe Coffee Day Outlets As Founder V. G. Siddhartha Found Dead
Cafe Coffee Day coffee shops are ubiquitous in India; the chain has 10 times as many locations as [hotlink]Starbucks[/hotlink]. (Karen Dias—Bloomberg via Getty Images)

“I gave it my all but today I gave up as I could not take any more pressure from one of the private equity partners forcing me to buy back shares,” according to the letter dated July 27. The harassment by tax officials and pressure from lenders led to a “serious liquidity crunch.”

Representatives for Coffee Day said they couldn’t immediately comment.

The company’s shares plunged by the 20% limit for a second day on Wednesday. Siddhartha’s cafe network traces its roots to the IT hub of Bengaluru in 1996, and it established a foothold in India’s fledgling coffee scene more than a decade before Starbucks Corp. entered Asia’s third-largest economy.

There were signs Siddhartha and Coffee Day were struggling with debt.

Pledged Holdings

He and other founders of Coffee Day pledged about 76% of their holdings as collateral, according to filings. The debt burden prompted him to start selling assets earlier this year. In April, he sold a 20% stake in software services firm Mindtree Ltd. to engineering giant Larsen & Toubro Ltd. He was seeking a valuation of as much as $1.45 billion from Coca-Cola Co. to sell a stake in Coffee Day, the Economic Times newspaper reported last month.

Debt at Coffee Day rose 29% to 65.5 billion rupees ($951 million) in the financial year ended March 31 from a year earlier. Its debt-to-EBITDA ratio jumped to 11.4 from 6.7 over the same period, according to data compiled by Bloomberg. Shares of Sical Logistics Ltd., another company where Siddhartha’s family is a large investor, also plunged 20% on Tuesday and continued to fall on Wednesday.

The company is taking help from concerned authorities, and its leadership team will “ensure continuity of business,” Coffee Day said in an exchange filing on Tuesday.

Tokyo-based Impact HD, which has a joint venture with the coffee chain to open convenience stores across India, postponed the opening of its first ‘Coffee Day essentials’ store, it said in a statement. The store was scheduled to open on Aug. 1 in Bangalore. The Japanese firm doesn’t expect any impact from Siddhartha’s death on the two firms’ joint venture, according to the statement.

“We think there is adequate top management bandwidth to continue with day-to-day operations in the near term,” Morgan Stanley analysts Nillai Shah and Archana Menon wrote in a July 30 note to clients.

Coffee Day went public in 2015, nearly two decades after opening its first cafe in Bengaluru, selling shares at 328 rupees apiece. A unit of private equity firm KKR & Co. owns 6.07% of the company, while Nandan Nilekani, co-founder of Infosys Ltd., has a 2.69% stake.

More Than Starbucks

Coffee Day has about 1,700 outlets, 10 times more than Starbucks runs in the nation, according to the National Restaurant Association of India.

“We are deeply saddened by the developments and our thoughts are with his family at this time,” KKR said in an email. The fund sold 4.25% of its holding of about 10.3% in February, 2018 and haven’t sold any shares before or since, according to the email.

Siddhartha, who began his career as an investment banker, had sleepless nights when Starbucks entered India, according to an article he wrote for the Outlook magazine in 2016.

He had a “miserable moment” when Coffee Days stock tanked at its debut, giving him “quite an ego blow,” he wrote in the column.

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Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits

Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits

Chinese Company Buys Smithfield Foods with Giant Merger Profits
China’s Shuanghui International recently bought Smithfield foods, the biggest pork producer and processor in the world- and Smithfield’s monetary benefits could skyrocket. The American company could receive about .6 million in merger-related payments. These two food giants are no doubt creating a first, considering this is the largest Chinese takeover of an American company yet.
http://feeds.reuters.com/~r/reuters/businessNews/~3/-ReSmGEraH4/story01.htm

U.S. court lets Ex-Im Bank loan for Air India stand
A U.S. appeals court let stand a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Air India in a legal challenge brought by Delta Air Lines .
http://feeds.reuters.com/~r/reuters/businessNews/~3/EOnXxOKcqLo/story01.htm

Icahn seeks to allay fears over lack of financing for Dell bid
Billionaire investor Carl Icahn told Dell Inc shareholders that an investment bank would help fund his offer for the PC maker as he sought to assuage concerns over his means to fund the bid.
http://feeds.reuters.com/~r/reuters/businessNews/~3/3J9tbEO6vfw/story01.htm

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Adam Kujawa, director of Malwarebytes Labs, discusses the latest Malwarebytes Labs Cybercrime Tactics and Techniques Report, why the report is unlikely to make organizations very happy and how the findings will affect the cybersecurity industry in the years to come.

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– What are some of the hard and soft skills that have been most helpful to you in your role at Malwarebytes? (3:05)
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Democrats Lose Trump-Campaign Russia-Conspiracy Lawsuit

https://fortune.com/2019/07/30/democratic-national-committee-lawsuit-trump/

Donald Trump scored a win Tuesday when a federal judge dismissed a lawsuit by the Democratic National Committee claiming his presidential campaign conspired with Russia and WikiLeaks to hack the DNC’s emails in the run-up to the 2016 election.

The defendants violated U.S. racketeering, computer fraud and other laws in a “brazen attack on American democracy,” according to the suit. In tossing it, U.S. District Judge John G. Koeltl in Manhattan based his ruling about Russia largely on a single legal issue — that while the “primary wrongdoer” in the alleged criminal enterprise was the Russian Federation, under the Foreign Sovereign Immunities Act it can’t be sued in the U.S., just as the U.S. generally can’t be sued abroad.

Trump himself wasn’t a defendant. Still, the outcome was a political boost for the president, who continues to be dogged by his relationship with Russia, a prominent topic of several investigations under way in the Democratic-controlled House of Representatives.

Trump celebrated the ruling on Twitter calling it an end to the “Witch Hunt.”

Donald J. Trump@realDonaldTrumpWow! A federal Judge in the Southern District of N.Y. completely dismissed a lawsuit brought by the Democratic National Committee against our historic 2016 campaign for President. The Judge said the DNC case was “entirely divorced” from the facts, yet another total & complete….

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Donald J. Trump@realDonaldTrump….vindication & exoneration from the Russian, WikiLeaks and every other form of HOAX perpetrated by the DNC, Radical Democrats and others. This is really big “stuff” especially coming from a highly respected judge who was appointed by President Clinton. The Witch Hunt Ends!

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The DNC said it was reviewing the decision.

“At first glance, this opinion raises serious concerns about our protections from foreign election interference and the theft of private property to advance the interests of our enemies,” the committee said in an email, adding that “the Trump administration and Republican leaders in Congress are ignoring warnings from the president’s own intelligence officials about foreign interference in the 2020 election.”

Koeltl said the Constitution’s First Amendment prevents the other defendants from being held liable for disseminating the stolen materials, just as the news media wouldn’t be liable for publishing “materials of public interest” as long as they didn’t “participate in any wrongdoing” in getting them.

He said “the plausible allegations against the remaining defendants are insufficient to hold them liable for the illegality that occurred in obtaining the materials from the DNC.”

In ruling as he did, Koeltl appears to have sided with a trio of free-speech groups that argued the Supreme Court has protected publications of “truthful information of public concern” in a series of cases over the last 50 years, including information that was published even after it was illegally acquired, provided the publisher wasn’t involved in its unlawful collection.

Koeltl noted that the high court upheld the press’s right to publish information “of public concern obtained from documents stolen by a third party” in the Pentagon Papers case. He said there is a “significant legal distinction” between stealing documents and publishing documents that have already been stolen.

The DNC didn’t show that the other defendants participated in the theft of the information, and it’s irrelevant that WikiLeaks solicited the stolen documents from Russian agents, Koeltl wrote.

WikiLeaks founder Julian Assange — who was arrested in April at the Ecuadorian Embassy in London, where he was in refuge since 2012, and charged with endangering national security by conspiring to obtain and disclose classified information — has argued that he is a journalist and is protected by the First Amendment.

The Russian Federation never appeared in the case and submitted a statement arguing it was immune from the committee’s claims under the Foreign Sovereign Immunities Act. In his ruling Tuesday, Koeltl agreed, saying any relief should be sought by the U.S. government, and not from the courts.

The case is Democratic National Committee v. the Russian Federation, 18-cv-3501, U.S. District Court, Southern District of New York (Manhattan).

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BORIS Johnson last night rewarded Jacob Rees-Mogg with his first Cabinet role as Leader of the House of Commons.

The arch-Brexiteer was handed the major promotion and crucial part in the new Prime Minister’s Cabinet following his huge shake up last night.

Continue reading:
https://www.thesun.co.uk/news/9578857/boris-johnson-gives-jacob-rees-mogg-first-cabinet-post/

Boris Johnson’s new team sit down for first meeting with 98 days to deliver Brexit ‘no ifs, no buts’:
https://www.thesun.co.uk/news/9579851/boris-johnsons-cabinet-first-meeting-new-prime-minister/

Prime Minister Boris Johnson to assemble Cabinet team to deliver Brexit with record number of minority ministers – who will make the cut?
https://www.thesun.co.uk/news/9571477/boris-johnson-cabinet-new-uk-prime-minister/

David Lidington and Philip Hammond lead flood of Remainer ministers QUITTING and refusing to serve under Boris:
https://www.thesun.co.uk/news/9574946/philip-hammond-david-lidington-rory-stewart-quit-boris-pm/

Carrie Symonds – why Boris Johnson’s lover Carries a lot of emotional baggage:
https://www.thesun.co.uk/news/9560450/carrie-symonds-family-infidelity-lies-like-boris-johnson/

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https://www.thesun.co.uk/tvandshowbiz/9572393/kelly-brook-rescued-new-prime-minister-boris-johnson-thumb-war/

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We have started a new video series called “iiiEM Newsletter”.

In which, you will get all the latest weekly news update regarding export-import business. Do like share and comment if you like this video.

References:

1. Minimum Import Price of Cashew kernel enhanced to Rs. 680/kg & Rs. 720/kg for broken and whole – http://bit.ly/2RvFac1

2. Textile body seeks Ministry’s support to tackle readymade imports, help local industry – http://bit.ly/2N4HXL3

3. India’s exports grew by 3.93% to billion in May on account of healthy growth in sectors such as chemicals, pharmaceuticals and engineering,and according to a commerce ministry data released Friday. Imports too rose by 4.31% to .35 billion, widening the trade deficit to .36 billion in May – http://bit.ly/2xf4eL3

4. Commerce & Industry Minister Piyush Goyal has reviewed India’s free trade agreements (FTAs) with partner countries such as Japan, South Korea, Sri Lanka and the 10-member ASEAN members to identify problem areas for the Indian industry and the opportunities they could offer what should negotiators look out for in future pacts – http://bit.ly/2X1Mvq3

5. India responds to US moves at last with tariff hike on 29 US high-value products agricultural and industrial imports by up to 50 per cent. This will take effect on 16th June – http://bit.ly/2Fq6vYu

6. 50% tariff on US motorcycles by India unacceptable, says US President – http://bit.ly/2Xr2ZaG

7. Mr G.V. Srinivas, Joint Secretary (LAC), Ministry of External Affairs, Government of India today said the trade between India and the Latin (South) America [Bolivia, Argentina and Chile.] and the Caribbean (LAC) region has grown 20-fold in last two decades but still there is a lot of potential – http://bit.ly/2KwZc5q

8. Commerce Ministry plans to boost exports through e-commerce – http://bit.ly/2XnmssL

9. Centre removes export incentives for onion – http://bit.ly/2L7z40n

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GRAPHITE INDIA Q 3 RESULTS – BUSINESS में मंदी | Latest Share Market News In Hindi

GRAPHITE INDIA Q 3 RESULTS, Latest Share Market News, Latest Share News, Latest Share Market Tips, Latest Share Market Videos, Latest Share Market News In Hindi, Latest Share Recommendations , Latest Stock Market News, Latest Stock Market Recommendations , Latest Stock Market News India, Latest Stock News India, Latest Stock Picks, Latest Stock Market Analysis Market Watch, Latest Stock Market Videos

Why Do Men Get Beer Bellies?

Men tend to store fat behind their abdominal wall, which pushes their abs outward and creates a protruding beer belly. And as they get older, they become more likely to grow a gut. That’s because their levels of testosterone —a sex hormone that helps keep men slim— decreases.

MORE HEALTH SCIENCE CONTENT:
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Why Do Men Get Beer Bellies?
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Trump to Nominate John Ratcliffe to Replace Dan Coats as National Intelligence Director

https://fortune.com/2019/07/28/dan-coats-replacement-john-ratcliffe/

President Donald Trump said he plans to nominate Representative John Ratcliffe as Director of National Intelligence, replacing Dan Coats, who he said would depart the office on Aug. 15.

The president announced the personnel changes on Twitter and said he’d name an acting director shortly. Ratcliffe’s nomination will be subject to approval by the Senate.

Donald J. Trump@realDonaldTrumpI am pleased to announce that highly respected Congressman John Ratcliffe of Texas will be nominated by me to be the Director of National Intelligence. A former U.S. Attorney, John will lead and inspire greatness for the Country he loves. Dan Coats, the current Director, will….

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Coats repeatedly disagreed with Trump on key national security claims for over two years, and the imminent departure of the former Republican senator from Indiana has been talked about for several months.

By contrast, Ratcliffe’s star is rising. The 53-year-old played a prominent role in last week’s House hearing featuring Robert Mueller, when the third-term lawmaker tore into the former Special Counsel as having violated “every principle and the most sacred traditions” of prosecutors by including in his report “potential crimes that were not charged.”

As the head of the U.S. intelligence community, the 76-year-old Coats has been a rare cabinet official willing to break ranks with the president publicly. A recent example was in January, at a congressional hearing where Coats and other intelligence chiefs contradicted the president’s statements on topics from North Korea to Islamic State.

It was a habit that drew praise from the Democratic chairman of the House Intelligence Committee. Amid reports in February that Coats was at risk of losing his job, Representative Adam Schiff of California said in a tweet that Coats “speaks truth to power and gives policy makers the best intelligence possible.”

Undercut on Iran

During the January hearing, Coats countered Trump’s assertion that Islamic State was defeated, testifying that “ISIS is intent on resurging and still commands thousands of fighters in Iraq and Syria.”

Defying the optimism exuded by Trump on North Korea, Coats said the government of Kim Jong Un is “unlikely to completely give up its nuclear weapons and production capabilities.” His assessment came weeks after a second summit between Trump and the North Korean leader, in Vietnam in February, broke up without agreements on denuclearization.

Coats also undercut the president on Iran, testifying that intelligence agencies believed Iran was continuing to comply with the the 2015 nuclear agreement from which Trump withdrew in 2018. Since then, following U.S. moves to ramp up sanctions on the Islamic Republic, Iran began enriching uranium beyond agreed-upon limits.

‘Down the Middle’

Trump lashed out at the Iran assessment at the time, writing on Twitter that intelligence officials “seem to be extremely passive and naive when it comes to the dangers of Iran. They are wrong!” Trump added: “Perhaps Intelligence should go back to school!”

Coats’s deputy, Sue Gordon, praised his performance as a non-political intelligence chief in a July podcast with former Deputy CIA Director Michael Morrell.

“He has played intelligence straight down the middle,” Gordon said on the “Intelligence Matters” podcast. “The intelligence community is strong in part because of the way Dan has conducted his job. I don’t know that any DNI could have done in this time what Dan Coats has done and I’m proud to be a member of his team.”

In selecting Ratcliffe, Trump would be going in the opposite direction, choosing an intelligence chief who has shown a strong partisan leaning.

Reverse Engineering

Interviewed Sunday on the Fox News Channel, Ratcliffe suggested he thought the special counsel’s probe of Trump sprang from a plot to frame the former New York real estate developer that originated by the administration of former President Barack Obama.

“They accused Donald Trump of a crime, and then they try and reverse-engineer a process to justify that accusation,” Ratcliffe said on “Sunday Morning Futures.” “It does appear that there were crimes committed during the Obama administration.”

Ratcliffe also said that Democratic Representatives Jerrold Nadler and Schiff, respective chairmen of the two House committees that held the Mueller hearing “are starting to look more like Laurel and Hardy.”

In July 2018, Coats criticized Trump’s decision to meet alone with Russian President Vladimir Putin in Helsinki, saying at the Aspen Security Forum in Colorado soon after that, “I would have suggested a different way, but that’s not my role, that’s not my job. So it is what it is.”

Told while on stage at the Aspen forum that the White House had tweeted Putin was being invited to Washington — a trip that never occurred — Coats said sardonically, “That’s going to be special.”

Low-Profile Chief

Coats was a low-profile chief of the intelligence community, often leaving the spotlight to the leaders of the better-known Central Intelligence Agency: Michael Pompeo at the start of Trump’s administration and, after he became secretary of State, Gina Haspel, the CIA’s current director.

Yet when Coats made public comments, they nearly always defended the independence of the intelligence community.

In May, Coats addressed concerns that Trump’s order telling the intelligence community to share classified documents about the start of the Russia probe with the Justice Department could result in national security secrets becoming public. He said he was confident that “long-established procedures” to safeguard the information would be followed, and he vowed to keep providing “apolitical intelligence” to the president.

Coats’s pending departure comes amid renewed turmoil on Trump’s national security team and broader cabinet. The administration has no confirmed deputy defense secretary, United Nations ambassador or homeland security secretary. Labor Secretary Alex Acosta resigned on July 12 after coming under fire for his handling of a decade-old sex crimes case against investor Jeffrey Epstein, who faces new charges for trafficking girls as young as 14 for sex.

Can’t Be Abolished

Axios reported this month that Trump isn’t convinced the Office of the Director of National Intelligence, created after the Sept. 11 terror attacks, is even necessary. But the office was created by Congress and can’t be abolished by the president.

Coats was a well known quantity in Washington long before taking on the role coordinating the work of the federal government’s more than a dozen intelligence agencies. He served as an Indiana congressman and then senator from 1981 to 1999, stepping down because of a term-limits pledge.

He returned to the Senate in 2011 and became a member of the Finance, Intelligence and Joint Economic committees. He also served as U.S. ambassador to Germany and worked as a lobbyist for companies such as General Electric Co. and Alphabet Inc’s Google.

High-Profile Split

His most high-profile divergence from Trump came after the president’s 2018 summit with Putin in Helsinki, where Trump seemed to give more credence to Putin’s denial that Russia meddled in the 2016 U.S. election than the findings of “my people,” including Coats.

Before the returning president’s plane even landed in Washington, Coats fired off his response.

“We have been clear in our assessments of Russian meddling in the 2016 election and their ongoing, pervasive efforts to undermine our democracy, and we will continue to provide unvarnished and objective intelligence in support of our national security.”

Trump plans to nominate Representative John Ratcliffe, a Texas Republican, to replace Coats, one person said. The people declined to be identified to discuss personnel moves that are not yet public.

Ratcliffe, 53, played a prominent role in last week’s House hearing featuring former Special Counsel Robert Mueller. The third-term lawmaker tore into Mueller as having violated “every principle and the most sacred traditions” of prosecutors by including in his report “potential crimes that were not charged.”

As the head of the U.S. intelligence community, the 76-year-old Coats has been a rare cabinet official willing to break ranks with the president publicly. A recent example was in January, at a congressional hearing where Coats and other intelligence chiefs contradicted the president’s statements on topics from North Korea to Islamic State.

It was a habit that drew praise from the Democratic chairman of the House Intelligence Committee. Amid reports in February that Coats was at risk of losing his job, Representative Adam Schiff of California said in a tweet that Coats “speaks truth to power and gives policy makers the best intelligence possible.”

Undercut on Iran

During the January hearing, Coats countered Trump’s assertion that Islamic State was defeated, testifying that “ISIS is intent on resurging and still commands thousands of fighters in Iraq and Syria.”

Defying the optimism exuded by Trump on North Korea, Coats said the government of Kim Jong Un is “unlikely to completely give up its nuclear weapons and production capabilities.” His assessment came weeks after a second summit between Trump and the North Korean leader, in Vietnam in February, broke up without agreements on denuclearization.

Coats also undercut the president on Iran, testifying that intelligence agencies believed Iran was continuing to comply with the the 2015 nuclear agreement from which Trump withdrew in 2018. Since then, following U.S. moves to ramp up sanctions on the Islamic Republic, Iran began enriching uranium beyond agreed-upon limits.

‘Down the Middle’

Trump lashed out at the Iran assessment at the time, writing on Twitter that intelligence officials “seem to be extremely passive and naive when it comes to the dangers of Iran. They are wrong!” Trump added: “Perhaps Intelligence should go back to school!”

Coats’s deputy, Sue Gordon, praised his performance as a non-political intelligence chief in a July podcast with former Deputy CIA Director Michael Morrell.

“He has played intelligence straight down the middle,” Gordon said on the “Intelligence Matters” podcast. “The intelligence community is strong in part because of the way Dan has conducted his job. I don’t know that any DNI could have done in this time what Dan Coats has done and I’m proud to be a member of his team.”

In selecting Ratcliffe, Trump would be going in the opposite direction, choosing an intelligence chief who has shown a strong partisan leaning.

Reverse Engineering

Interviewed Sunday on the Fox News Channel, Ratcliffe suggested he thought the special counsel’s probe of Trump sprang from a plot to frame the former New York real estate developer that originated by the administration of former President Barack Obama.

“They accused Donald Trump of a crime, and then they try and reverse-engineer a process to justify that accusation,” Ratcliffe said on “Sunday Morning Futures.” “It does appear that there were crimes committed during the Obama administration.”

In July 2018, Coats criticized Trump’s decision to meet alone with Russian President Vladimir Putin in Helsinki, saying at the Aspen Security Forum in Colorado soon after that, “I would have suggested a different way, but that’s not my role, that’s not my job. So it is what it is.”

Told while on stage at the Aspen forum that the White House had tweeted Putin was being invited to Washington — a trip that never occurred — Coats said sardonically, “That’s going to be special.”

Low-Profile Chief

Coats was a low-profile chief of the intelligence community, often leaving the spotlight to the leaders of the better-known Central Intelligence Agency: Michael Pompeo at the start of Trump’s administration and, after he became secretary of State, Gina Haspel, the CIA’s current director.

Yet when Coats made public comments, they nearly always defended the independence of the intelligence community.

In May, Coats addressed concerns that Trump’s order telling the intelligence community to share classified documents about the start of the Russia probe with the Justice Department could result in national security secrets becoming public. He said he was confident that “long-established procedures” to safeguard the information would be followed, and he vowed to keep providing “apolitical intelligence” to the president.

Coats’s pending departure comes amid renewed turmoil on Trump’s national security team and broader cabinet. The administration has no confirmed deputy defense secretary, United Nations ambassador or homeland security secretary. Labor Secretary Alex Acosta resigned on July 12 after coming under fire for his handling of a decade-old sex crimes case against investor Jeffrey Epstein, who faces new charges for trafficking girls as young as 14 for sex.

Can’t Be Abolished

Axios reported this month that Trump isn’t convinced the Office of the Director of National Intelligence, created after the Sept. 11 terror attacks, is even necessary. But the office was created by Congress and can’t be abolished by the president.

Coats was a well known quantity in Washington long before taking on the role coordinating the work of the federal government’s more than a dozen intelligence agencies. He served as an Indiana congressman and then senator from 1981 to 1999, stepping down because of a term-limits pledge.

He returned to the Senate in 2011 and became a member of the Finance, Intelligence and Joint Economic committees. He also served as U.S. ambassador to Germany and worked as a lobbyist for companies such as General Electric Co. and Alphabet Inc’s Google.

High-Profile Split

His most high-profile divergence from Trump came after the president’s 2018 summit with Putin in Helsinki, where Trump seemed to give more credence to Putin’s denial that Russia meddled in the 2016 U.S. election than the findings of “my people,” including Coats.

Before the returning president’s plane even landed in Washington, Coats fired off his response.

“We have been clear in our assessments of Russian meddling in the 2016 election and their ongoing, pervasive efforts to undermine our democracy, and we will continue to provide unvarnished and objective intelligence in support of our national security.”

More must-read stories from Fortune:

—What to expect from the second Democratic debate

—When it comes to politics, Americans are divided. Can data change that?

—Elizabeth Warren declares war on private equity “vampires” in 2020 plan

Trump outspent every other political campaign on Facebook. Here’s who those ads targeted

—Sex toys allowed, not massages, in fine print of Trump tax break

Get up to speed on your morning commute with Fortune’s CEO Daily newsletter.

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