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Nissan reveals Patrol Nismo in Dubai

Nissan's performance division has worked its magic on a variety of vehicles. But not all of them have been based on sports cars, and not all of them have been made available here in the United States. Its latest model is neither. In launching the Nismo sub-brand in the Dubai, Nissan has started with a decidedly different model in the Patrol Nismo. It's based on the SUV we'd know better as the Infiniti QX80, but instead of taking an off-road or luxury approach, the Patrol Nismo (as you might have guessed) goes for on-road performance. To that end, the performance division has given it a thorough workover. The 5.6-liter V8 engine, for starters, has been tuned by Nissan's Takumi craftsmen up from 400 horsepower to 428. The suspension has been firmed up with Bilstein shocks and mounted with 22-inch forged alloys from Rays. The power steering system has tuned by Nismo for sportier handling. The bodywork has been upgraded for an aggressive look and zero aerodynamic lift. And the interior has been refitted to make it a more suitable environment from which to command the added performance capabilities. The result may have potential as a junior version of SUVs like the Mercedes GL63 AMG or Range Rover Sport SVR, not to mention prospective upcoming performance versions of the Cadillac Escalade. But it's being launched exclusively in the United Arab Emirates for the time being, and given that we don't get the Patrol as such in North America, it looks highly unlikely the Patrol Nismo will ever reach these shores. Those looking for a high-riding Nismo model, then, will just have to content themselves with the Juke. Related Video: Nissan proves its passion for performance with launch of 'NISMO' brand in the Middle East Nissan debuts world premiere of Patrol NISMO showcasing ultimate essence of its 'Innovation that Excites' promise - Thrilling performance marque launches in Middle East - Stunning Patrol NISMO announced as world premiere model - GT-R NISMO and 370Z NISMO showcased to the media DUBAI, United Arab Emirates - October 7, 2015: Nissan's world famous motorsport and road car performance brand, NISMO, made its Middle East debut at a spectacular launch event in Dubai, heralding the next step in 'Innovation that Excites' for driving enthusiasts across the region. In addition to launching the performance marque, Nissan also confirmed the world premiere launch of the Patrol NISMO.

Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.

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.