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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 boss ices plan for EV

Infiniti President Johan de Nysschen has postponed plans for an electric vehicle in order to focus on high-volume models. Automotive News reports de Nysschen is attempting to be realistic about Nissan CEO Carlos Ghosn's goal of nearly tripling Infiniti global sales from 170,000 units last year to 500,000 by March 31, 2017, saying, "500,000 cars by 2017 is an inordinately ambitious challenge." An electric vehicle would likely sell in rather small numbers.
Still, the executive is already making moves to improve Infiniti sales worldwide with new production in both China and England. Meanwhile, the company plans to unveil a new volume compact sedan set to bow in 2015. Meanwhile, de Nysschen is also working on two new models above the company's current M line. Those will borrow styling cues from machines like the Essence Concept, but will be far less exotic, tilting more toward high-performance luxury than true sports car.

Infiniti teases Qs Inspiration electrified sedan concept for Auto Shanghai

Infiniti has the third installment of its Q concept lineup ready for Auto Shanghai in a couple of weeks. The 2018 Detroit Auto Show saw the Q Inspiration concept, a slinky pearlescent sports sedan. This year's Detroit show welcomed the QX Inspiration concept, an ivory electric crossover that previewed a future product. The Shanghai debut blends the two with the Qs Inspiration concept, "an electrified sports sedan for the future," that previews a forthcoming product. The Qs Inspiration appears to pick up where the 2018 Q Inspiration left off. We noted last year's show car didn't have visible tailpipes, and we suspected an electric powertrain. That wasn't the case — Infiniti said the brand's VC-Turbo technology powered the four-door. This new Qs Inspiration is built on an "all-new flexible architecture developed specifically for electrified powertrains." That's a curious distinction if by electrified Infiniti means an electrically assisted ICE. If a car needs all the paraphernalia of an ICE drivetrain, where's the electric leap? It must be somewhere, because Infiniti says the Qs Inspiration is as groundbreaking as the Q45 sedan that birthed the brand in 1989. Company boss Christian Meunier said, "Electrification creates a range of new possibilities for sedans," the concept "letting us imagine how this type of car could be reinvigorated and adapted to fit the changing needs and tastes of drivers." The teaser tells us nothing but to expect more white. There will be an "electrified form language" outside, a "minimalist cabin" inside. The dual-zone interior contains a "clutter-free cockpit ... to engage the driver, and a relaxed passenger zone that make the most of the generous interior space." Naturally, there'll be more Japanese "artistry and craftsmanship" than you can process in one sitting. Stay tuned April 16 for the reveal.