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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.

Watch the 2022 Infiniti QX55 reveal livestream at 8:55 p.m. EST right here

The car reveals are coming in quick succession today, and last up is the 2022 Infiniti QX55. Infiniti will be hosting a stream at 8:55 p.m. ET tonight to reveal the crossover coupe version of its popular QX50. Artist Aloe Blacc will be hosting the event and hyping the car up from the Belasco Theater in Los Angeles. Additionally, Infiniti will have designers and executives on hand to speak about the car and its development and background. If this reveal is anything like the Nissan Z Proto reveal, expect a number of folks on hand and a detailed look at the crossover. You can watch it all in the video stream at the top of this post via YouTube. We already know what to expect coming into this reveal, thanks to a recent teaser from Infiniti and spy shots (see the gallery below) captured at the beginning of the year. It’s going to look like a chopped and coupe-ified QX50. The VC-Turbo engine should be under the front hood, and “shifting” will likely be handled via a CVT. Check back with this post just before 9:00 p.m. ET to see the video reveal, then head on over to our full reveal post on our home page where you can get a more detailed breakdown of whatÂ’s new and different in the QX55.

2014 Infiniti Q50S

Ten years ago, nearly to the day, I took delivery of a brand-new 2004 Infiniti G35 6MT. The sporty rear-wheel drive sedan, equipped with its throaty 260-horsepower V6, slick manual gearbox and limited-slip differential replaced my 2001 BMW 330i because the Japanese competitor touted a product that was roomier, better equipped, quicker and lower priced. The G35 trumped the German in nearly every measurable category - at least on paper.
The 2014 Infiniti Q50 is the direct descendant, albeit two generations later, of the car I owned a decade ago. It is dimensionally about the same size, but it has gained more than 300 pounds of mass thanks to numerous safety upgrades and technical innovations. The additional weight is largely dismissed by a larger and more efficient powerplant that delivers an additional 68 horsepower, a welcome arrival, but the manual gearbox that charmed enthusiasts has been pushed out of the picture by a mandatory seven-speed automatic transmission.
As it has in the past, Infiniti touts its all-new Q50 as a luxury sport sedan worthy of the title. Decades ago, impressive performance statistics may have sealed the deal. Yet there is much more to the assignment today, as the model must offer premium appointments, sophistication and engaging driving dynamics if it's going to entice and capture the next-generation of young, premium buyers - much like the G35 did for me ten years ago.