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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.

2014 Infiniti Q50 and Q60 Coupe and Convertible order guides leaked

The pricing and configurator for the 2014 Infiniti Q50 were revealed a couple months ago, and now InfinitiQ50.org has uncovered leaked order guides for Infiniti's all-new luxury sedan as well as the renamed Q60 Coupe and Convertible.
From the looks of things, if you'd like a rear-wheel drive Q50, you may have to have to special order it. All three Q50 RWD models say "Sold Order Only" on the model, mix and MSRP page. As for the Q60 models, the only differences for the 2014 model year - aside for the new name, of course - are related to exterior coloring. A new Venetian Ruby hue is being added to the palette.

Jay Leno recaps Pebble Beach

Each year at the Pebble Beach Concours d'Elegance the picturesque, ocean-side setting of the golf course becomes a parking lot for a vast array of multi-million dollar vehicles. However, if you missed the posh event this year, then Jay Leno has you covered yet again. For a nearly hour-long installment of Jay Leno's Garage, the comedian has dumped his denim in favor of a suit to take viewers on an insider tour of the lavish gathering. He interviewed some of the most talented designers in the auto industry, too. Leno starts off checking out a few beautiful classics by the shore, but things really get interesting for his stroll down the Concept Car Lawn for a scoop on the vehicles of tomorrow. Ed Welburn tells Leno all about the Buick Avenir, and Shiro Nakamura offers a tour of the Infiniti Q60. Plus, there are detailed looks at the Lincoln Continental, Hyundai Vision G Coupe, and Bentley EXP 10 Speed 6. News Source: Jay Leno's Garage via YouTube Bentley Buick Hyundai Infiniti Lincoln McLaren Classics Videos Pebble Beach Jay Lenos Garage infiniti q60 buick avenir bentley exp 10 speed 6