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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.

Nissan looking to expand UK plant to build Infiniti Q30

With the Infiniti Q30 concept heading to the Frankfurt Motor Show next month and a future premium compact model heading into production at Nissan's Sunderland UK assembly plant, just connecting the dots tells us this new small Infiniti is headed for UK production. Backing this up, Reuters is reporting that Nissan is looking to expand the Sunderland plant by 25,000 square feet, while Automotive News Europe takes it a step further by almost confirming that the Q30 will be built alongside the Nissan Qashqai and Note.
The reports say that Sunderland is already the UK's biggest automotive plant, but the expansion will make it even larger with production capacity expected to rise from the current 500,000 units built each year to more than 550,000. There is no indication if the expansion will bring more jobs to the plant, which already employs around 6,000 people.

Upcoming QX80 will use current model's platform, powertrain

Infiniti previewed the next-gen QX80 full-size SUV at this year's New York Auto Show with the QX80 Monograph concept. The new model is slated to go into production by the end of this year. Despite the updated look, Motor Trend reports that the next QX80 will ride on the same platform as the current model, carrying along with it the 5.6-liter 400 horsepower V8. The current QX80 shares a platform with the Nissan Patrol globally and the Nissan Armada here in the US. The model has been a success for the automaker, outselling every other Infiniti but the smaller QX60 crossover and Q50 sedan. Though the platform dates back to 2010, it seems Infiniti doesn't want to spoil a good thing. Competition like the Mercedes-Benz GLS-class, Cadillac Escalade, and Lexus LX are about as old as the current QX80. While most new models are more refined than their predecessors, Infiniti Motor Company President Roland Krueger says it should drive about the same as the current model. While the V8 will carry over, Krueger didn't rule out the possibility of a smaller turbocharged V6 for the future. Also carrying over will be the independent, self-leveling rear suspension, though neither the QX80 or Armada get some of the Patrol's really good off-road components. Since there isn't much going on beyond the skin, expect a short development cycle and a full debut sometime this fall. Related Video: News Source: Motor Trend Design/Style Infiniti SUV infiniti qx80 infiniti qx80 monograph