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Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.

Pretty scenery alert: Nissan Leaf drives up a volcano on Maui

Gravity taketh away but gravity giveth back, Nissan is trying to teach all of us. The Japanese automaker has posted a two-minute video about Maui resident Neil Wagner using his Nissan Leaf to catch the legendary sunrise over the volcano in Haleakala National Park. After climbing the more-than-10,000-foot elevation, the Leaf is shown having lost about 84 percent of its usable battery capacity. The finer point, though, is that electric vehicles have a regenerative braking system, meaning that the downhill ride and all of its switchbacks actually replenish battery capacity. Of course, the video didn't show exactly how much of that capacity was replenished, but the point is well-made, and with really cool scenery. Sales for the Leaf have already been strong this year. Through the first three months of the year, Nissan boosted sales 46 percent from 2013 numbers up to 5,184 units. This is after more than doubling sales last year to 22,610 units. And, for anyone curious, there are six publicly-accessible plug-in vehicle charging stations in Kahului and another eight in Lahaina, two of Maui's largest cities, according to the US Department of Energy. We're pretty sure that Mr. Wagner already knows that but we're going to take notes in case we need to make the sunrise drive one day. For now, we're going to check out Nissan's two-minute video below one more time. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Infiniti readying small crossover for China, is it Juke based?

The small crossover is the superstar segment of the global automotive industry at the moment. With the love that Nissan has for the form with vehicles like the Juke and the Rogue, it should come as no surprise that Infiniti is going to hop into the market as well. However, its luxury CUV is likely going to remain exclusive to China for the time being.
The first hint of the Chinese Infiniti crossover leaked as dark silhouette looking a lot like the Juke, during a brand press conference said to be held in Beijing. It suggested that the model would use the Nissan platform but incorporate unique styling.
Leftlane News speculated that it could be among the company's debuts at the upcoming Beijing Motor Show, but that appears not to be the case. Infiniti spokesperson Kyle Bazemore has confirmed to Autoblog that a "small premium crossover" is under development for China. However, "Details of the vehicle will be announced at a later date. It will not debut at Beijing Motor Show," he said. Also, don't get too excited about the prospects of driving an Infiniti small CUV, because Bazemore says the company has no plans to offer this model elsewhere.