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Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Nismo GT-R poised to be fastest Nissan ever

For almost every year since the Nissan GT-R first debuted, Nissan has been figuring out how to cram more power under the hood or give it 911-like quickness around the Nürburgring. Looking to create a brand image for its performance arm, we already knew that a hotter, Nismo-branded GT-R was in the works, but it seems some details may have leaked regarding this new Nismo GT-R.
While little has been spoken of this Super GT-R since February, Top Gear is reporting that Nismo is planning to make improvements to the coupe's power, handing and styling - three things that we're sure few have complained about since 2009. What could this mean for the GT-R? According to the article, Nismo could be looking to raise horsepower from the current 545-hp mark to more than 570 hp, and handling upgrades could give the car a 'Ring lap time of seven minutes and 22 seconds, which as Top Gear points out, is four seconds quicker than the new 911 GT3.

Infiniti's new Design Director is American Alfonso Albaisa

The man responsible for creating the sleek 2010 Nissan Ellure Concept you see above is now the design director for Infiniti. Alfonso Albaisa (shown at right) has been a member of the Nissan design team for 25 years, but was recently promoted to executive design director for the Infiniti brand.
His past roles at Nissan have included design director for Nissan from 2004 to 2007, vice president of Nissan Design Europe from 2007 to 2011, vice president of Nissan Design America in 2011 and, most recently, he held the title of Nissan's global design director. Aside from Ellure, Albaisa was also responsible for designing the 2012 Nissan Xtrem Concept, "key strategic production vehicles soon to be launched" and he's even contributed to a handful of Infiniti designs. Scroll down for the official press release.