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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.

Infiniti QX80 to spearhead new direction for Nissan's luxury brand

Infiniti has had a tumultuous time in the last few years. However, a new plan is under way to revive Nissan's luxury marque, and to give it some much-needed direction. Now, Infiniti chairman Peyman Kargar has detailed his plans for the first time, and revealed that the QX80 will be at the vanguard of this new push. Left to languish under former Nissan CEO Carlos Ghosn's quest for market share at the cost of all else, Infiniti's lineup failed to receive the necessary updates in several hotly contested segments. In a time when the luxury brands have seen record profits, Infiniti has instead seen its sales plummet. In 2018 the brand was among the first to announce a date by which it would "go electric." That was taken by many to mean solely electric or hybrid vehicles after 2021, but that time has come and gone. Infiniti missed its own deadline for a first EV model last year, and sales have nosedived by more than 50 percent since 2019 (117,708 in U.S. sales in 2019, versus 58,553 in 2021). Part of that is due to the  pandemic and resulting semiconductor shortage that's plagued the entire industry, but there's no doubt that the brand is seldom uttered in the same breath as Mercedes, BMW, Lexus or Audi. Speaking with Automotive News, Kargar outlined a three-phase plan to get Infiniti back on its feet. The first phase, focusing on restructuring and recovery, was just completed in March. Infiniti has now turned record profits globally, Kargar said.  Phase two has now begun and will play out through March 2026. By this time next year, designers will have locked in a new corporate face to take over on all new models. Leading the charge with that identity will be a new QX80 that arrives in late 2023 or early 2024.  Kargar didn't disclose details, but called it the future flagship of the marque. It will have enhanced performance specs to distance itself from the Nissan Armada on which it is based. Infiniti hopes that the QX will be seen as a competitor against the likes of the Cadillac Escalade Lexus LX, and Range Rover. Despite riding on the same platform as the Patrol — a Land Cruiser-like body-on-frame SUV — since 2010, the QX has not fallen in sales as much as other models. Part of the rebranding also includes a unification of Infiniti's identity. Kargar spoke of a new dealership look and feel, which includes a "brand scent" for showrooms and a "sound signature" that will tie in apps, websites, and call centers.

Infiniti introduces Q70 Premium Select Edition to Monterey crowds

Infiniti has made its presence at the 2015 Monterey Car Week known, introducing a new version of its flagship sedan, the Q70. As far as special editions go, the new Premium Select Edition Q70 is fairly light on upgrades, going for minor aesthetic tweaks rather than rocking the boat too heavily. Unsurprisingly, one of the most obvious changes is down low, where Infiniti's stylists have fitted new 20-inch wheels. The gunmetal hoops are joined by dark chrome trim on the fascia, a new rear bumper, and a decklid spoiler. Buyers have the choice of two interior trims. There's Graphite and Stone, both of which feature semi-aniline leather, a "suede-like" headliner, and aluminum interior trim pieces. Infiniti isn't too picky when it comes to powertrains for the Premium Select Edition, although there are some restrictions. It can be had with both the 3.7-liter V6 and 5.6-liter V8 and in rear- or all-wheel-drive models. Weirdly, though, you can't get the stylish trim on the Q70 Hybrid or on long-wheelbase models. We can't tell you how much it'll cost to add the special-edition trim, because Infiniti did not deign to release pricing info. We can, however, tell you that the Q70 Premium Select Edition will hit dealers this November. Look for more, including live images of the new sedan, as the Monterey Car Week continues. Until then, scroll down for the official press release. Related Video: 2016 Infiniti Q70 Premium Select Edition debuts at Pebble Beach Concours d'Elegance PEBBLE BEACH, Calif. – Infiniti today announced that the new 2016 Infiniti Q70 Premium Select Edition will be on display this week in the Infiniti Pavilion at the Pebble Beach Concours d'Elegance. The specially equipped Q70 premium sedan will be available at Infiniti retailers nationwide beginning in November. "Following the introduction last year of the new Infiniti Q70 long-wheelbase model, we are continuing to expand our flagship Q70 sedan's portfolio of offerings," said Randy Parker, vice president, Infiniti Americas. "The new Premium Select Edition package gives the Q70 an extra touch of premium elegance that is right at home here at Pebble Beach – or in any neighborhood or driveway across the country." The Q70 Premium Select Edition's exterior offers dark chrome trim, a darkened lower rear bumper, a rear decklid spoiler and unique design and color 20-inch aluminum-alloy wheels with 245/40R20 all-season performance tires.