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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.

2023 Infiniti Q50 gets small price bump and Premium Care

The Infiniti Q50 sedan continues for 2023 without the support of its coupe sibling, the Q60. There are just three small changes on the way, one being the addition of Infiniti Premium Care. Expanded to every Infiniti sold or leased in the U.S., Premium Care is a regular maintenance program for items like oil and filter changes, tire rotations, and inspections for up to three years. The second change is a higher price, the Q50 starting at $43,725 including the $1,075 destination fee, a $610 increase over 2022. MSRPs for the three trims next year and differences from 2022 are: Q50 Luxe: $43,725 ($610) Q50 Sensory: $49,425 ($400) Q50 Red Sport 400: $57,575 ($600) The last change is the availability of a Saddle Brown interior, which used to require stepping up to the Sensory. Rear-wheel drive is the standard layout, all-wheel drive can be optioned to any trim for $2,000. The twin-turbo 3.0-liter V6 hold steady at 300 horsepower and 295 pound-feet of torque for the Luxe and Sensory, or 400 hp and 350 lb-ft for the Red Sport 400, shifting through a seven-speed automatic no matter the output. It's possible there are more people who want to know where the Q50 is going than want to buy the car. The brand sold 8,482 Q50s in the first half of 2021, but just 3,717 units in the first half of this year. The high point came in 2016 when 44,007 units moved that year, two years after the sedan went on sale, and the model heading into 2023 has been hanging on for 10 years. The brand talked about a potential new electrified platform for the sedan in 2018, but come 2021 Nikkei Asia reported parent company Nissan would be ending development of all sedans in Japan excepting the Skyline. The Q50 seems like it's doing circles in a product cul-de-sac, knowing there's no point in revamping the current generation or developing a new one. But the car on sale is just bringing down values; unlike much of the rest of the market, there's real money to be saved on a one- or two-year-old Q50. Perhaps when the electric revolution has some power behind it in 2027 or 2028, we could see a return to the hot Infiniti sedans of yore.   

Autoblog's Matt Davis named Infiniti global product and brand communications director

The door that separates automotive journalism and automaker PR swings both ways, and swings often as we see journalists move over to PR and vice versa. This time, however, it's one of ours.
That would be Matt Davis, longtime European correspondent for Autoblog and frequent contributor to numerous other publications including AutoWeek, Edmunds and Esquire. He was co-founder and longtime chairman of the World Car of the Year Awards, and serves on the jury for the International Engine of the Year awards as well. Matt has resided in Milan since 2001, writing for publications around the world in a number of languages, but will now be moving to Hong Kong.
That's where he will be taking up his new position as Global Director of Production and Brand Communications for Infiniti, which relocated its global headquarters to Hong Kong from Japan more than two years ago. In his new capacity, which he officially assumes on July 14, Davis will report directly to Infiniti's general manager of communications Stefan Weinmann.