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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.

Race recap: 2015 Singapore Grand Prix full of odd sideshows

What greeted the Formula One teams in Singapore? Confusion. The haze was so thick that observers wondered if the race would be held at all. Then practices began, and Mercedes-AMG Petronas driver Nico Rosberg took the first one, but the team fell away after that. Mercedes said it couldn't get the tires turned on, but no one believed the Silver Arrows was in genuine trouble. Then qualifying set the confusion in stone. Ferrari driver Sebastian Vettel laid down the best time in Q3, taking the team's first pole position since Germany in 2012. Daniel Ricciardo got his Infiniti Red Bull Racing into second, about one tenth behind Vettel. (That may make the team feel better after Ricciardo publicly asked for a better engine than the current Renault unit, and team advisor Helmut Marko said the outfit will quit F1 at the end of this year if it can't get a stronger powerplant for 2016.) Kimi Raikkonen put the second Ferrari in third, Daniil Kvyat put the second Red Bull in fourth. And only then came the Meredes'. Lewis Hamilton's best got him fifth, the Brit saying, "We don't really know what we have got wrong. For some reason the tires are not working on the car. We do the warm-up the same as everyone else and then you see someone one second up the road." For added emphasis on the reversal of fortune, his time was 1.6 seconds behind Vettel's. Teammate Rosberg is next to him in sixth, a further half a second back. Williams is still a hurting a bit on slow tracks, so Valtteri Bottas could only get into seventh ahead of Max Verstappen in the Toro Rosso and teammate Felipe Massa in ninth. When the red lights went out, the 2015 Singapore Grand Prix would get both less interesting and more interesting all the way to the final lap. The men up front got good getaways, and the order into Turn 1 was Vettel, Ricciardo, and Raikkonen. The race finished with those three in that order, never having conceded position. Vettel's Ferrari enjoyed the track so much that he laid a second per lap into Ricciardo for the first five, then relaxed. He'd let the gap come down later in the race a couple of times, but any time he wanted to see what his mirrors looked like without anyone in them he'd take off again. Rosberg took fourth position after holding down sixth for the first stint. It looked like he'd have an even worse day - for a Mercedes driver - when he had problems getting his car started and onto the grid before the race.

Infiniti Q Inspiration Concept shows its face

Update: Infiniti released a second image of its Q Inspiration Concept with a press release about sales. We're not sure why, but we're not complaining and have added it above. The original rear three-quarter image is below in the text. Following a teaser image and some cryptic hints from designers, Infiniti has mostly revealed its concept for the Detroit Auto Show. It's called the Q Inspiration Concept, which for having "inspiration" in the name, is actually a rather uninspired name. But that's OK, because what it lacks in clever naming it makes up for in a beautiful fastback body. When the teaser was released, one of the designers mentioned the car would have a "long cabin," and that's no exaggeration, as the greenhouse reaches nearly to the tail edge of the car. It's a roofline that is highly reminiscent of the Audi A7. And as such, it would make a lot of sense for this Infiniti to be a hatchback, too, especially if it reaches production. We can't say for sure if this concept has a hatch, though, since there are some panel gaps at the base of the D-pillar and the Tesla Model 3-style rear pane of glass suggests this concept is technically a sedan. Unlike the Audi A7, the rest of the Infiniti is as curvy as the roof. There's hardly a crease anywhere, and it looks muscular with the big bulging front and rear fenders that flow effortlessly into each other. The clean exterior is accented by a lack of exterior door handles and what look to be cameras for side mirrors. The contrast to the organic curves comes from the nose and the wheels. The area where the grille would be is more chiselled and aggressive than the rest of the body. The wheels also have hard edges and lots of complicated elements that don't quite fit the organic theme of the rest of the car. Still the car overall is very striking and graceful. The press release continues to emphasize new powertrains, proportions, and the future design direction of Infiniti. As such, we suspect that this car uses, at minimum, a version of Infiniti's variable-compression engine, and more likely features extensive electrification, if not a pure EV powertrain. The lack of a large opening at the front would seem like further evidence the car utilizes electricity at some level. The car will make its full debut on Jan. 15. Related Video: Image Credit: Infiniti Green Detroit Auto Show Infiniti Hatchback Luxury Sedan 2018 detroit auto show