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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 bringing Q50 Eau Rouge to Geneva, now with engine [w/video]

During last month's Detroit Auto Show, Infiniti rolled out the lustrous Q50 Moulin Eau Rouge concept - a preview of what could be a solid performance offering from Nissan's luxury arm. Problem is, the car shown in Detroit was all show and no go - literally.
Infiniti was keen to talk about how the Eau Rouge would feature "a big personality, V-cylinder engine with forced induction" with "over 500 horsepower and 600 pound-feet of torque," but the showcar had no such powerplant underhood. In fact, it didn't have any powerplant under the hood at all. That'll change next month, however, as Infiniti has now confirmed that it will bring the Q50 Eau Rouge to the Geneva Motor Show in March, complete with the promised "big personality" engine.
"Our engineers have perfectly captured the tone of Infiniti's take on premium performance, and a car that is as impressive as the Q50 Eau Rouge sounds is surely a car to challenge performance cars in the premium sector," said Infiniti's President, Johan de Nysschen. Regarding that sound: he ain't foolin' - the automaker has released a teaser video that gives us our first listen at what the Q50 Eau Rouge will sound like once its powerplant is nestled underhood. Scroll down to give it a watch - err, listen - and have a look beyond that for the company's official press blast.

Infiniti G37 to live through MY 2015, sell alongside Q50

Infiniti has officially confirmed news we broke last month about its G37 sedan - that it will live on in showrooms alongside its erstwhile replacement, the 2014 Infiniti Q50, a model that goes on sale this week. And it's sticking around for quite a while - it will be sold through the 2015 model year.
In order for the G37 and Q50 to not rub shoulders, Infiniti is rolling out an amended G lineup, complete with lowered pricing. The G37 will stick around in Journey and all-wheel drive trims, both powered by the same 3.7-liter VQ-Series V6 engine, and only two option groups will be available, Premium and Navigation. The 2014 G37 Journey will start at $32,550, while the G37 Sedan AWD will run $34,150 (both are subject to a $905 destination fee).
The 2013 G37 had been priced from $38,255 delivered as of earlier this week, so the price drop is significant, likely bringing the base MSRP more in line with where transaction prices had been on the aging model. The new pricing, which takes effect August 6, should also allow the G37 gain consideration amongst shoppers of smaller-engined rivals like the BMW 320i while the Q50 waits on a turbocharged four-cylinder and diesel engine from Daimler. For comparison's sake, the larger, more tech-rich Q50 will start at $37,605 delivered.