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Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

Nissan Altima and Sentra to get Murano-inspired design redo

The Nissan Altima and Sentra sedans are both very competent, economical, comfortable and well-equipped ways of getting from A to B. They're also both decidedly boring to look at, which is not a good trait in their increasingly style-driven segments.
To rectify this, Nissan is planning design overhauls for its mainstream, with the Sentra adopting the sportier, Euro-style looks of the Pulsar, according to The Car Connection. While that (sadly) won't mean the five-door Pulsar will come to the US market, fitting the European stylings to the Sentra should go a long way towards broadening the car's appeal.
That parcel of information comes from Nissan design boss Shiro Nakamura, who spoke to The Car Connection at last week's Paris Motor Show.

What does a world-class downhill skateboarder drive? Something very cool

Kevin Reimer has an interesting career and a fascinating car. The resident of Vancouver, BC is a professional downhill skateboarder - which we now know is a thing you can be - who sees a lot of commonality between his extreme occupation and his cherry 1991 Nissan Skyline GT-R.
The subjects of the latest Petrolicious joint, Racing Champions, Reimer waxes philosophical about skateboarding and driving down some of the same routes. You'll not be surprised to hear that riding the curves of a mountain slope, be it on a deck or in a bucket seat, both rely on grip and nerve in various measure. Scroll down to see for yourself, and don't miss the rest of our Petrolicious library when you're done.