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Nissan board meets but doesn't pick a replacement for Ghosn

YOKOHAMA, Japan — Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a special committee of outsiders to strengthen governance at the company. A date for the selection of a chairman was not decided. "We plan to be cautious in this process, and I do not plan to rush this," Saikawa said. The recommendations for beefing up governance are due in March, and Saikawa said he was willing to wait until then to choose a chairman. The board meeting came amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand, and highlights shoddy governance at the manufacturer of the Leaf electric car. Related: Carlos Ghosn coup theory grows: Did Nissan set him up for a fall? Ghosn and another board member Greg Kelly were formally charged last week with falsifying financial reports in underreporting Ghosn's income by about 5 billion yen ($44 million) from 2011 to 2015. They were arrested Nov. 19 by Tokyo prosecutors and remain in detention. A source close to Ghosn's family says Ghosn is innocent, as the alleged income was never decided upon or paid. Aubrey Harwell, the U.S. lawyer for Kelly, an American, says he is innocent, and that Nissan insiders and outside experts had advised him that the financial reporting was proper. The chairman must be selected from among the board members. Three outside board members — race-car driver Keiko Ihara; Masakazu Toyoda, an academic; and Jean-Baptiste Duzan, formerly of Renault — are making that decision. The special committee for governance includes the three outside board members and four other outsiders, including former judge Seiichiro Nishioka. One candidate for chairman is Saikawa, who was hand-picked by Ghosn to succeed him as chief executive. He has denounced Ghosn and Kelly as the "masterminds" in a scheme to falsify income reports and abuse company money and assets. Renault has kept Ghosn as chief executive and chairman, saying its investigation has not found wrongdoing in the awarding of Ghosn's compensation. Saikawa called on directors at Renault to heed its reasons for sacking Ghosn, but Renault's interim chairman Philippe Lagayette said on Friday that its board had not considered a replacement.

Who knew a 1,200-hp GT-R could be so lovely?

The proliferation of 4K cameras and displays is bringing the world some utterly fantastic automotive videos. If you like seeing Jeff Zwart powering up the Pikes Peak course in high-def glory but wish for some hugely powered Nissan GT-Rs in place of the turbocharged Porsche, then this clip shouldn't be missed. Japanese magazine Motorhead brought together a 1,200-horsepower, HKS-tuned R35 GT1000 and an earlier R32 GT-R Group A racer to send them through a tight, mountain road. The clip uses an augmented reality aesthetic to place little pieces of info about the car, driver, and emotions over the scenes, while the coupes are blasting through the forest. The real highlight here is the cinematography and sound. Turn up your speakers to get an earful of the GT-R's gasoline-fueled heart. The cameras mounted on driver Nobuteru Taniguchi turn the world outside the car into an impressionistic blur of green as the trees smear together at such high speeds. The combination of sight and sound offers a fantastic sense of speed. The only, tiny problem with this clip is that the preamble before the coupes thunder off is just a bit too long. If you need an extra minute in your day, skip straight to 1:15 to get immediately to the action. Although, missing the beginning means not seeing an inky black GT-R driving through the Japanese night. According to Speedhunters, the video is meant to promote the theme for Motorhead's latest issue – Japan Tuned. The magazine apparently comes even more video of the two cars playing on the mountain.

Nissan lowers price of seven models for better search results

Intent on not eliminating itself from consideration, and adapting to the way consumers research new car purchases, Nissan has announced price discounts now in effect, indefinitely, on seven models: the Altima, Armada, Juke, Maxima, Murano, Rogue and Sentra. It was found that Nissan's price points fell outside the competitive pool when prospective buyers searched for cars based on maximum price.
The price cuts vary and depend on the equipment spec, but they range from several hundred dollars to thousands of dollars; the MSRP of the Altima drops by $580, the Sentra by $730, the Armada by $4,400. Discounts on the Murano alone range from $1,460 to $2,410. Under orders from CEO Carlos Ghosn the brand is working to raise its US market share to ten percent by 2016, from 7.9 percent currently - which includes Infiniti - and appears to be optimizing its placement every step of the way to do so.