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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 teases November debut of new QX55 crossover-coupe

Infiniti will officially unveil its new QX55 crossover-coupe via social media on Nov. 11, Nissan's luxury subsidiary announced early Wednesday. Infiniti is calling it a return to the segment which the company helped pioneer when it launched the FX crossover back in 2002.  "With a roofline and visual elements inspired by the iconic Infiniti FX, the QX55’s provocative design will fuse the stance and versatility of a premium midsize crossover with the sleek profile of a sports coupe," Infiniti's announcement said. "Beyond its provocative looks, the QX55 will also feature innovative technologies designed to empower, engage and connect luxury customers to the road ahead." The announcement was accompanied by the above teaser image, which depicts the QX55's tapered liftgate. It's quite a bit more conservative than the previously released design sketch suggested, but certainly looks the part.  The QX55 is one of five new vehicles Infiniti plans to launch in the next three years. It was first teased last August during Monterey Car Week. While Infiniti has been leaning heavily on the heritage of the original FX (which later became the QX70) since releasing that first design sketch, the QX55 will actually have little in common with its spiritual ancestor. While they may share fastback SUV looks, the QX55 will be based on the QX50 — a modern, front-wheel-drive crossover with small, efficient engines. The FX was derived from Infiniti's sport sedans and coupes, and even boasted a V8 option for much of its existence. Production of the new crossover-coupe was slated to begin in June, but was reportedly pushed back due to complications at its production facility in Aguascalientes, Mexico. The facility is a joint-venture project between Mercedes-Benz parent company Daimler and Nissan, and produces several other front- and all-wheel-drive vehicles for both companies.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.    

Infiniti Q50 BTCC ready to race

A few months ago, Infiniti announced it would field its Q50 sedan (or a racing derivative thereof) in the British Touring Car Championship, and now the Japanese automaker has revealed the tin-top racer in its final form as it prepares to roll onto the grid. Like the rest of the BTCC field, the Q50 racer is based on the series Next Generation Touring Car (NGTC) regulations. That means it's based on the production model, and not on a control chassis (like the one you'd find in NASCAR) done up to look like the showroom version. It also means a 2.0-liter turbocharged engine driving upwards of 300 horsepower through an Xtrac six-speed sequential gearbox with AP Racing clutch, throttle by wire and the manufacturer's choice of front- or rear-wheel drive, the latter of which we assume Infiniti has chosen for its touring car. Two examples of the Q50 BTCC will be fielded by Infiniti Support Our Paras Racing, a non-profit venture with proceeds (assuming there are any) going towards the British paratroopers' charity. The team is being run by Derek Palmer Sr, whose son Derek Jr will drive one, with the other piloted by Richard Hawken, and injured paratroopers filling out the pit crew and support staff. The Infiniti Q50 BTCC will be showcased on the Dunlop stand at the Autosport International show in Birmingham this weekend. NEW Q50 BTCC LIVERY AT AUTOSPORT INTERNATIONAL SHOW Wednesday, 7 January 2015 The recently announced 'Infiniti Support Our Paras Racing' team, which will contest the Dunlop British Touring Car Championship this season, will unveil a new livery for its two NGTC Infiniti Q50 race cars at the Autosport International Show in Birmingham later this week. The new livery on the Q50, being displayed on the Dunlop stand, has been designed by Infiniti's own design team in Paddington London, further enhancing the ongoing partnership of Infiniti with the Mallory Park-based team, which will employ injured ex-Paratroopers to prepare both race cars. Simon Cox, Infiniti Design Director from Infiniti Design London, said "The new Q50 race car livery was developed to contrast against the traditional branding schemes normally associated with the BTCC grid. However, it still retains a high level of visibility, reflecting both the dynamic qualities of the Infiniti Brand along with the performance and striking contours of the Q50 road car.