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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.

Nissan bringing Infiniti brand to Japanese market

Ever hear that the best stuff is saved for export? Just ask Japanese luxury car buyers. It's been decades since Japan's largest automakers set out to take on Europe's finest with dedicated luxury brands of their own, but they have kept those brands largely out of their own domestic market and sold them almost exclusively overseas. But that's beginning to change.
In 2005 Toyota launched the Lexus brand - which it had been exporting since 1989 - in Japan. Honda reportedly planned on bringing its Acura brand to its home market just a few years later, but ended up delaying the move. Now Nissan is reportedly preparing to launch the Infiniti lineup in its own backyard.
This according to a report published in the Japanese business daily Nikkei and now making the rounds of the English-language press. The plan apparently involves offering at least part of the Infiniti model line in domestic Nissan dealers, holding off for the time being on launching a separate dealer network in Japan.

Infiniti QX55 crossover coupe teased again, hints at FX looks and a surprise out back

Infiniti plans to launch five new vehicles in the next three years. We got an abstract squiggle of the first one in August, when Infitini teased the coming QX55 crossover coupe during Monterey Car Week. Said to act as a medium that would communicate design language from the dearly departed FX crossover, the QX55 is meant to infuse a lot more design mojo to the conventional QX50 crossover that it's based on. The Japanese luxury brand just dropped the second teaser, this one revealing a swath of greenhouse and shoulder, and indeed, an arc of chrome trim that could have been traced from FX production drawings. The attention-getter here is what comes behind the greenhouse: A tailgate extension with the makings of a stubby trunk.  Positive reviews have come from a group of media to whom Infiniti showed a matte gray pre-production version of the QX55. The front diverges from the QX50 only in a few details, while the roofline isn't as coupe-ish as it might be because designers wanted to ensure adequate headroom for rear seat passengers. The steep rake has been saved for the area aft of the C-pillar, convincing one scribe to write that "the QX55 reminds us most of the Audi Q8, which also lacks swooping silhouette and looks more like a lifted hatchback." The rear fascia is said to look "cleaner and more modern than Infiniti’s current midsize crossovers," even though the jutting rear presents a vertically flat lower hatch that looks "a bit boxy." Having moved the license plate holder to the bumper, the wide expanse is home to a larger Infiniti badge and logo script with an "I" that serves an as-yet-undisclosed function. At the edges come taillights with a "sharp new piano key design." One site summed up with, "this is a gorgeous crossover coupe that will turn heads." The QX50 is expected to debut in the first three months of 2020, with an on-sale date sometime next summer.