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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 previews modified Q50 Red Sport 400 for SEMA

Infiniti sports sedans are having a bit of a renaissance these days thanks the dirt cheap prices of high mileage G35s and G37s. As such, it's a good a time as any for Infiniti to introduce an aspirational vehicle in the same lineage: a Q50 Red Sport 400 built for the 2023 SEMA Show. The Q50 is probably not a car you've given much thought about in recent years, as it's been hanging around largely unchanged since its introduction in 2014. Infiniti hasn't had a presence at SEMA for most of that time either. This year, the luxury brand has cooked up a Q50 Red Sport 400 loaded with aftermarket accessories for the Vegas extravaganza. The car was built to showcase products from the Infiniti Performance line accessories, which includes suspension bits like upper control arms, rear traction rods, endlinks and more. There's also performance brake pads and a cat-back exhaust with the Infiniti logo etched into the tip. The Q50 show car also adds more coolant into the cooling system with a thicker radiator, a billet-aluminum expansion tank and an auxiliary intercooler tank. Naturally, there's a cold-air intake too. The build was done in part with Mobil 1, who has filled the 400-horsepower twin-turbo 3.0-liter V6 with 0w-20 synthetic.  The most desirable parts of all might be the four lightweight Nismo LM-RS1 wheels. Measuring 19 inches in diameter and 9.5 inches in width, they are available in black, gray, or bronze. The purpose of all this, Infiniti says, is to let owners of the Q50 and Q60 (and older G37s and G35s) know that the company offers a line of parts for customization. It's not the first time Infiniti has tried something like this. Anyone remember the short-lived Infiniti Performance Line (IPL) from 2010? Infiniti's commitment to performance has always seemed half-hearted. Maybe this time it'll stick around for a bit longer.

Infiniti bringing Q50 Eau Rouge to Geneva, now with engine [w/video]

During last month's Detroit Auto Show, Infiniti rolled out the lustrous Q50 Moulin Eau Rouge concept - a preview of what could be a solid performance offering from Nissan's luxury arm. Problem is, the car shown in Detroit was all show and no go - literally.
Infiniti was keen to talk about how the Eau Rouge would feature "a big personality, V-cylinder engine with forced induction" with "over 500 horsepower and 600 pound-feet of torque," but the showcar had no such powerplant underhood. In fact, it didn't have any powerplant under the hood at all. That'll change next month, however, as Infiniti has now confirmed that it will bring the Q50 Eau Rouge to the Geneva Motor Show in March, complete with the promised "big personality" engine.
"Our engineers have perfectly captured the tone of Infiniti's take on premium performance, and a car that is as impressive as the Q50 Eau Rouge sounds is surely a car to challenge performance cars in the premium sector," said Infiniti's President, Johan de Nysschen. Regarding that sound: he ain't foolin' - the automaker has released a teaser video that gives us our first listen at what the Q50 Eau Rouge will sound like once its powerplant is nestled underhood. Scroll down to give it a watch - err, listen - and have a look beyond that for the company's official press blast.