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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 spruces up Q70L Bespoke Edition for Shanghai [w/video]

"Luxury" is a relative term. Take the Infiniti Q70, for instance, which most of us would find plenty luxurious. But some buyers – in China especially – wanted more, so Infiniti stretched it out into the Q70L. And now it's revealed the even more luxurious Q70L Bespoke Edition. Revealed for the first time at the Shanghai Motor Show down the coast from the company's global headquarters in Hong Kong, the Infiniti Q70L Bespoke Edition is designed to "fill the gap between the current interiors in production cars and luscious interiors of Infiniti's concept cars." That's been materialized through a quilted white leather cabin space with four individual seats hewn "by meticulous craftsmanship and three-dimensional textures." It all looks pretty swank to us, but not the kind of space you'd want to put your kids in with their juice boxes, crayons and dirty soccer uniforms. Check it out in the video clip, high-res images and press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Apr. 19, 2015 Infiniti unveils Q70L Bespoke Edition at Auto Shanghai; joins Q60 Concept and Q80 Inspiration in show debut - Infiniti Q70L Bespoke Edition revealed with concept-car inspired interior - Q80 Inspiration and Q60 Concept vehicles also make China premieres - Infiniti design, plus Global and China growth, highlighted Hong Kong/Shanghai – Infiniti today took the covers off its Infiniti Q70L Bespoke Edition at Auto Shanghai 2015, showcasing its concept car-inspired interior for the first time in front of the predominantly Chinese crowd. The special version of the production Q70L, with a 5.9-inch (150 mm) longer wheelbase, features four luxurious seats wrapped in rich white quilted leather. This exploration is meant to fill the gap between the current interiors in production cars and luscious interiors of Infiniti's concept cars. Shaped by meticulous craftsmanship and three-dimensional textures, the cabin of the Q70L Bespoke Edition has been transformed into a cossetting space, hinting at how the artistry of Infiniti's concept cars can become reality. The production model of the Infiniti Q70, and two more Infiniti concepts – the Q80 Inspiration and Q60 Concept – were also making Auto Shanghai debuts.

Infiniti QX55 spied for the first time looking sleek

The Infiniti QX55 is well on its way to joining the crossover coupe ranks in 2020, and here’s our first view of the car out testing. Infiniti is expected to debut the ‘ute in the first half of 2020, so it wonÂ’t be long till we see it without the swirls and body cladding on it, too. As the name suggests, the QX55 is a derivative of the QX50 crossover, which was just completely redesigned for the 2019 model year. Infiniti debuted its new VC-Turbo (variable compression) engine technology in that crossover, and itÂ’ll certainly be along for the ride in the QX55 as well. The latest teaser suggested that Infiniti would be greatly differentiating this crossover coupe to the rest of the field by giving it a uniquely long tail for more cargo space. That tail still exists on the vehicle caught out testing, but it doesnÂ’t look drastically different than other vehicles of its ilk. To that end, rear cargo space is likely to be slightly down from the more traditionally shaped QX50, even if itÂ’s slightly better than competitors. However, rear seat space appears to be better than expected. The roof itself doesnÂ’t taper at a horribly steep angle into the rear passengerÂ’s heads, and the rear windows are large enough that they may only cause minor claustrophobia. Most of everything except for the rear end will likely resemble the QX50 verbatim, so itÂ’s just the back half that weÂ’re waiting for in the reveal. The grille itself has the same waveform shape as the normal QX50, and the body creases in the hood and doors protruding through the skin-tight camo resemble it as well. Even the wheels on this tester are exactly the same design as the rollers used on the production QX50. When it does come out, the QX55 will join its German competition in this stylish but utility-hampered segment. The BMW X4 and Mercedes-Benz GLC Coupe will be the main targets when we expect this car to hit dealer lots later this year. Related Video: