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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.

Japan sends official to Lebanon over fugitive Carlos Ghosn

BEIRUT — Japan's deputy justice minister met top officials in Lebanon on Monday over the case of NissanÂ’s fugitive ex-boss, Carlos Ghosn, who fled to his home country late last year while on bail in Japan and awaiting trial. Ghosn was arrested in late 2018 and is facing charges of under-reporting income and breach of trust. He says he is innocent. He led Nissan for nearly 20 years. State Minister of Justice Hiroyuki Yoshiie (pictured above with Lebanese Justice Minister Marie Claude Najm) met President Michel Aoun as well as the Lebanese minister of foreign affairs. Yoshiie did not speak to reporters after the meetings and is scheduled to hold a news conference later in the day. Aoun's office said in a tweet after the meeting that they discussed mutual relations and ways of developing them "in addition to matters that are of interest for both countries." The tweet did not mention Ghosn, who made his first public appearance in Lebanon in early January saying he fled a “nightmare” that would not end and vowed to defend his name wherever he can get a fair trial. On Friday, Japan's Justice Minister Masako Mori said she was dispatching the official to Beirut to explain the Japanese justice system and improve cooperation. She said Japan hoped Lebanon would gain “a proper understanding of the Japanese criminal justice system.” Japan and Lebanon do not have an extradition treaty, and it's unlikely Lebanon would agree to send Ghosn, considered a Lebanese national hero, back to Japan to face trial. Mori acknowledged that there were “various environments” and laws that underpin each country's stance. Nissan, maker of the Leaf electric car and Z sports car, said in a statement regarding the justice officialÂ’s trip that it hoped Ghosn would return to Japan to stand trial, “so that all the facts can be properly established under JapanÂ’s judicial system.” Having spent months in detention and struggling to gain his release on bail under stringent conditions, Ghosn said he fled in the belief he could not get a fair trial in Japan. Japan has requested GhosnÂ’s return through Interpol and issued an arrest warrant after his escape. Lebanese prosecutors issued a travel ban for Ghosn in January and asked him to hand in his French passport following the Interpol-issued notice against him. NissanÂ’s sales have plunged recently, and it sank into losses for the last fiscal quarter. The brand is widely considered to have been tarnished by the controversy around Ghosn.

First Infiniti QX30 Concept image released ahead of Geneva Motor Show

After releasing a shadowy glimpse of the rear of the QX30 Concept a few days ago, Infiniti is finally shining some light on the premium compact crossover's backside ahead of the vehicle's full debut at the 2015 Geneva Motor Show on March 3. The QX30 is a thorough reworking of the brand's Q30 Concept from the 2013 Frankfurt Motor Show. Many of the same styling elements show up on the latest luxury crossover interpretation, but the touches are tweaked to better align with Infiniti's latest look. In addition to jacking up the ride height by 1.2 inches, the CUV gets hard creases in its sheetmetal and complicated 21-inch aluminum wheels that really grab the eye. The rear wears a contrasting dark purple stripe that separates the hatch area from the exhaust tips housed in the skid plate, and both concepts share a coupe-like proportion with the backseat door pulls hidden for a cleaner line. While not pictured, the company says the vehicle has a glass roof. Infiniti still isn't showing the aluminum-trimmed front of the concept yet, but the automaker admits that the styling on display here hints at the possibility of a future premium compact crossover, which isn't really a surprise. The company has talked about a production QX30 several times in the past. First image release of strong and stylish Infiniti QX30 Concept • Concept combines elevated crossover stance with strong coupe contours • World premiere at 2015 Geneva International Motor Show • Enhanced crossover is 30mm taller than Q30 Concept HONG KONG – Infiniti today provides the first full glimpse of the QX30 Concept, which will have its world premiere at the 2015 Geneva International Motor Show. The crossover concept hints at a future premium compact vehicle and gives a strong indication of the brand's commitment to this segment. Pushing design boundaries, the QX30 Concept combines the sleek lines of a coupe with the distinguishing features and higher stance of a crossover. Looking poised for action, yet fluid, it promises to deliver effortless capability with style. "We wanted the spontaneous fluidity of the QX30 Concept design to cut through the urban clutter and rigidity, reflecting its go-anywhere and spur-of-the-moment nature," said Alfonso Albaisa, Infiniti Executive Design Director.