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Nissan CEO Hiroto Saikawa resigns, successor to be named

YOKOHAMA, Japan — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Board member Yasushi Kimura told reporters at an evening news conference at company headquarters in Yokohama that the board has approved Saikawa's resignation, effective Sept. 16, and a successor will be appointed next month. A search is underway, he added. Calls for Saikawa's resignation, which arose after the arrest last year of his predecessor, Carlos Ghosn, on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments. The income was linked to the stock price of Nissan Motor Co., and he has said his pay got inflated by illicitly adjusting the date for cashing in. The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company. Kimura said the income Saikawa had received was confirmed as "not illegal." Ghosn, who is out on bail and awaiting trial, says he's innocent. Kimura and three other board members, who all have backgrounds outside the company, said their investigation of the scandal over Ghosn's arrest found that alleged misconduct by Ghosn and Greg Kelly, a former board member who was also arrested, had caused 35 billion yen ($350 million) in damage to the company. Nissan will seek a repayment of the damages, Kimura said. The board said about 10 candidates are being considered as a replacement for Saikawa. They did not identify them, but said outsiders and non-Japanese are on the list. Until a successor is decided, Chief Operating Officer Yasuhiro Yamauchi will serve as interim chief, the board said. Saikawa has not been charged. "I have been trying to do what needs to be done so that I can pass the baton over as soon as possible," he told reporters earlier in the day, referring to his willingness to leave his job. Saikawa did not appear at the news conference initially, but the four board members who led the event said he would later. Saikawa has said he didn't know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments. Japanese media reports said Saikawa had received tens of millions of yen (hundreds of thousands of dollars) in extra compensation.

Final Recap: Days 2 and 3 notes, quotes, and takeaways from the US Grand Prix

The Texas grass no longer rustles with 2.4-liter V8 exhaust blown at 18,000 revs, the Texas dust is no longer raised by hard-compound Pirellis. We saw a lot and learned a lot while we were there as guests of Infiniti, and after our Day 1 and race recaps, here are the bits left over from our time spent with the carmaker and Red Bull Racing, including thoughts on a "wicked" race, Christian Horner's quest for a more level playing field, Infiniti "going longer and deeper," and why Mario Andretti should get a police escort at the beginning of a race but not a microphone at the end...

2016 Infiniti Q50 Red Sport 400 First Drive

When the original Infiniti Q50 arrived to replace the long-lived G Sedan, our reaction was lukewarm. It lacked poise, refinement, and efficiency, and we hated the Direct Adaptive Steer system. We originally thought of this steer-by-wire system as, "technology for the sake thereof." Infiniti is hoping to address these shortcomings with the 2016 Q50. It gets a new and far improved version of DAS, and a 3.0-liter, twin-turbo V6 sits atop a diversified powertrain family. And at the top of the ladder sits this: the Q50 Red Sport 400. The Red Sport's all-aluminum 3.0-liter V6 pumps out 400 horsepower and 350 pound-feet of torque, the latter of which can be called upon between 1,600 and 5,200 rpm. That low-end thrust is what's most evident out on the road – everything from standing starts to freeway passes are effortless. It's actually kind of ferocious – the tachometer needle climbs relentlessly, and the engine feels strong and purposeful all the way up to its 7,000-rpm redline. It's a refined and smooth powerplant, too, which is a tremendous improvement over the old 3.7-liter V6. The sensations the revised Direct Adaptive Steer system delivers are comparable to the average, modern, electric power-assisted setup. The bigger accomplishment is Infiniti's second-generation Direct Adaptive Steering system. Owners can choose from three steering weights and three levels of responsiveness, but steering adjustments feel more incremental rather than dramatic, so you won't be jarred if you suddenly switch from an aggressive mode to a more comfortable setup. Computer wizardry still can't match natural feedback, but the sensations the revised Direct Adaptive Steer system delivers are comparable to the average, modern, electric power-assisted setup. Make no mistake, that's a huge improvement and it means DAS performs far better dynamically, especially when you ask for its most aggressive behavior. See the differences between the different modes in the video below. Even half-throttle situations in the standard drive mode required counter-steering. Direct Adaptive Steer feels perfectly fine during everyday driving. We spent about 75 percent of our time testing a DAS-equipped car, but hopped into a non-DAS model a the short, 20-mile drive back to our hotel. DAS felt more stable and easy to track down the road – it didn't require the constant, tiny steering inputs of the traditional system.