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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's Taxi of Tomorrow shut down by NYC courts [UPDATE]

Justice Schlomo Hagler may have just put a big dent in Nissan's plans to rule New York City's taxi fleets and outgoing Mayor Mike Bloomberg's vision of a unified fleet of yellow cabs.
As an October 28 deadline approached that would see all current, non-hybrid taxis replaced over by the Nissan NV200 over a three-to-five-year span, the legal battle that's enveloped the Taxi of Tomorrow program from the start has intensified. In a lawsuit, the Greater New York Taxi Association claims New York's Taxi and Limousine Commission overstepped its powers in mandating that taxi fleets are refitted with the NV200, according to the New York Daily News. This isn't the first time the courts have sided with the cabbies in the ToT debate.
Justice Hagler agreed with the cabbies, striking down the Taxi of Tomorrow purchasing requirements, and saying, "Simply stated, the power to contract and compel medallion owners to purchase the Nissan NV200 from Nissan for ten years does not exist in the City Charter," according to The Wall Street Journal.

Ford GT Mk II at Goodwood, Bentley EXP 100 GT concept EV and driving the Hyundai Veloster N | Autoblog Podcast #588

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Associate Editor Joel Stocksdale. To kick things off, they talk about driving the Porsche Cayenne S, Hyundai Veloster N and Nissan Armada. Then they recap the Goodwood Festival of Speed, including the Ford GT Mk II that debuted there. Next up is news: the Bentley EXP 100 GT electric concept car, Ford canceling diesel for the Transit Connect and Elon Musk dismissing talk of a refresh for the Model S and Model X. Finally, they take to Reddit to help pick between a 2016 Audi S3 and a 2017 Alfa Romeo Giulia. Autoblog Podcast #588 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2019 Porsche Cayenne S 2020 Hyundai Veloster N 2019 Nissan Armada Ford GT Mk II debuts at Goodwood, and other impressions from the event Bentley unveils EXP 100 GT electric concept car Ford cancels diesel engine for Transit Connect Tesla Model S and X wonÂ’t get a refresh Spend My Money: Audi or Alfa? Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: