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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.

Federal prosecutor fights bail for men accused of helping Carlos Ghosn escape

BOSTON — A U.S. prosecutor on Monday urged a judge to keep a former Green Beret and his son locked up as Japan prepares to formally seek their extradition on charges that they helped former Nissan boss Carlos Ghosn flee the East Asian country. Assistant U.S. Attorney Stephen Hassink argued during a virtual hearing that Michael Taylor and his son, Peter Taylor, have a "clear and present reason to flee" after being accused of helping Ghosn, who faces financial misconduct charges in Japan. "They're actually some of the best defendants that IÂ’m sure this court has seen positioned to actually succeed in that flight," Hassink said. He argued the men, who have been held without bail since being arrested in Massachusetts last month, helped smuggle Ghosn out of Japan in a box on Dec. 29, 2019. Ghosn then allegedly fled to Lebanon, his childhood home, which has no extradition treaty with Japan. Ghosn, Nissan's former chief executive, was charged with engaging in financial wrongdoing by understating his compensation in Nissan's financial statements. He denies wrongdoing. The Taylors' lawyers countered that had they wished to avoid prosecution they could have remained in Lebanon, where they were in January when Japan said it would seek their arrest, rather than return to Massachusetts. "If he's an expert of escape, he would not have returned to the United States," Robert Sheketoff, a lawyer for Michael Taylor, argued. He and other defense lawyers argued the case against their clients was flawed and that Michael Taylor, a U.S. Army Special Forces veteran and private security specialist, is at heightened risk of complications from COVID-19, which could spread in the jail. The hearing itself was held through a Zoom videoconference because of the coronavirus pandemic. U.S. Magistrate Judge Donald Cabell said he hoped to rule "as quickly as I can." Related Video:

Are you the next Nissan Frontier?

A reader of the Phillippine site Autoindustriya.com sent in what appear to be naked spy photos of the pickup that Nissan recently teased first in photo then in video. The shots, one taken from the front and one from the back, have been found on the Nissan Navara Club Thailand forum. The details in the two photos, one from the front and one from the back, match up with the details we can make out from the teaser video, lending credence to the idea that this is indeed the next Nissan Navara, which is essentially the Frontier in overseas markets. Nissan US has reportedly disavowed this as our next Frontier, though; the mysterious photo on Twitter was put there by Nissan Thailand, supposedly the location of these two trucks.
The only other detail submitted with the images is that there's a 2.5-liter turbodiesel under the hood putting out 187 horsepower and 332 pound-feet of torque, running through either a seven-speed automatic transmission or a six-speed manual. The reveal is scheduled for June 11, which is when we should know a lot more about the Navara and how much it is or isn't indicative of what we'll get with the next Frontier, a vehicle we're still not expecting for some time.