Nissan Shareholders Approve Stronger Oversight Of How The Money's Spent

Nissan shareholders approve stronger oversight of how the money's spent

YOKOHAMA, Japan — Scandal-battered Nissan won its shareholders' approval Tuesday for a new system of committees to oversee governance and for keeping Chief Executive Hiroto Saikawa on its board. The Japanese automaker's profits and dividends have tumbled amid a high-profile scandal involving its former chairman Carlos Ghosn. Some shareholders expressed worries about the future of the automaker. Saikawa and the other board members, including French alliance partner Renault Chairman Jean-Dominique Senard, bowed deeply at the meeting at a convention center in the port city of Yokohama, where Nissan Motor Corp. is based. "I'd like to offer my deepest apologies, representing the company, for how the misconduct has caused serious concern for our shareholders," Saikawa said. Ghosn, who led Nissan for two decades, was arrested in November and is awaiting trial in Japan on charges of financial misconduct, including falsifying documents related to retirement compensation. He says he is innocent. The proposals to have committees overseeing compensation, board nominations and auditing required a majority of shareholders for a quorum and two-thirds of those voting for passage. Approval was shown by clapping among the more than 2,800 people present at the meeting. Most of the votes were submitted in advance. French automaker Renault, which owns 43% of Nissan, had earlier signaled it may abstain, saying it wanted more representation on the committees. To satisfy that request, the committees have Senard, who replaced Ghosn on the Nissan board, and Renault Chief Executive Thierry Bollore. Saikawa told shareholders he had "two kinds of responsibility," for what had happened in the past as well as building toward a future and a recovery, including nurturing his successor. "I would like to work toward putting Nissan on a stable track," he said, asking for shareholders' approval for his remaining as Nissan's leader. "I want to speed up the preparations for a succession." Although Nissan has been trying to put the scandal behind it, many wonder why the alleged wrongdoing, if true, had gone unchecked, and especially how much Saikawa knew. One shareholder asked whether Nissan officials besides Ghosn shared in the alleged misconduct. For the fiscal year that ended in March, Nissan's profit plunged to about half of what it was the previous year, partly because of the scandal, as well as problems in the lucrative North American market. The maker of the Leaf electric car and Infiniti luxury models is projecting a further deterioration in its earnings, but promising a recovery for the year after that. It logged 9.2 billion yen ($83 million) in costs for the fiscal year that ended in March from alleged underreporting of Ghosn's compensation. The proposal, which won shareholders' approval, called for an 11-member board, including seven outside directors such as Andrew House, formerly with Japanese electronics and entertainment company Sony Corp. For the appointment of directors, a third of the shareholders made for a quorum, and passage needed a simple majority of those voting. Some analysts suggest a deepening rift between Renault and Nissan after a planned merger between Renault and Fiat Chrysler fell through earlier this month. Nissan expressed reservations about immediately joining the merger. Some shareholders expressed worries about the alliance, and one who stood up to ask a question said the main person who had made decisions, referring to Ghosn, was now gone. Nissan held an extraordinary shareholders' meeting in April to oust Ghosn. Last week, Mitsubishi Motors Corp., a smaller Japanese automaker in which Nissan owns a 34% stake, won shareholders' approval to oust Ghosn.

How To Turn On Flashlights On Android

How To Turn ON Flashlights on Android

The flashlight feature is pretty standard across the board, but accessing them might be different from phone to phone, so hopefully, this guide will show you a more universal way to turn on your flashlight for your Android smartphone.

When Google launched Android 5.0 Lollipop, they introduced the flashlight to Android’s quick settings/toggle. This means that accessing the flashlight feature is a pretty simple and straightforward process.

How Renault, Fiat Chrysler, And Yes, Nissan, Could Save Through Sharing

How Renault, Fiat Chrysler, and yes, Nissan, could save through sharing

If French automaker Renault green-lights a proposed merger with Fiat Chrysler Automobiles, the companies almost immediately could begin saving money by consolidating components and basic structures on many of their most popular vehicles, an industry analyst said on Tuesday. The synergies could multiply if they invite Japanese automaker Nissan, currently Renault's alliance partner, to join the merger, according to a former Renault and Nissan executive. Renault and Italian-American rival Fiat Chrysler Automobiles are in talks to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. A Renault-Fiat Chrysler combination "would mean a greater sharing of parts (which) could really boost the profitability of Fiat Chrysler's smaller vehicles," said Sam Fiorani, vice president, AutoForecast Solutions. Building similar models on a common vehicle architecture, Fiorani said, "would give both companies a lot more freedom in manufacturing. They could mix brands and vehicle sizes on the same assembly line, switch vehicles between plants to balance production, and even shift production from one country to another, depending on changes in demand, tariffs or other considerations." Fiorani said Fiat Chrysler could benefit from sharing the French automaker's expertise in electric vehicles and powertrains, where Renault and Nissan have jointly invested more than $5 billion. These are areas in which Fiat Chrysler has little in the way of components or intellectual property. Another sector that is ripe for consolidation is light commercial vehicles, where Renault and Fiat Chrysler could build a variety of vans in several sizes on common platforms that could be assembled and sold in global markets. Ford Motor Co and Volkswagen AG began their alliance discussions a year ago by focusing on potential collaboration in light commercial vehicles.

Getting Nissan's blessing

Fiorani said Renault's CMF architecture, which was jointly developed with Nissan and underpins many of Renault's passenger cars and crossovers, could be used by Fiat Chrysler on a wide variety of vehicles. As an example, he said the CMF could provide a new single foundation for at least five Jeep models, including the Renegade, Compass and Cherokee, which now are based on four different platforms. A hurdle to implementing the merger is all the intellectual property — including the CMF vehicle architecture — that is shared between Renault and Nissan, said Patrick Pelata, a veteran of the two automakers' alliance who was formerly Renault's chief operating officer. "They will need Nissan's agreement for it to be used by Fiat Chrysler," Pelata told BFM radio on Tuesday. "Nobody's talking about that right now, but it's an important subject." Renault would not likely be interested in sharing Fiat Chrysler's body-on-frame platforms, which underpin the automaker's big pickups and SUVs in North America, Fiorani said. "But if Nissan is invited to join the merger, that could open up new possibilities," he said. "Nissan could use Fiat Chrysler's full-size truck platform for its next-generation Titan and Armada, while Fiat Chrysler could use Nissan's mid-size truck platform for the next-generation Dakota and Durango." Fiorani said it likely would take at least two years after a Renault-Fiat Chrysler merger is approved before the arrival of the first new vehicles built on shared architectures.

Toyota Sells Fewer And Fewer Manual Transmissions — Here's How Many Fewer

Toyota sells fewer and fewer manual transmissions  — here's how many fewer

It probably comes as no surprise that manual transmissions are on uncertain ground these days. Fewer models are offered with them, and public perception is that rowing-your-own is more of an enthusiast thing. But carmakers do not stick with automatics for no reason: expected and realized demand tells manufacturers if it's worth engineering a three-pedal variant. A good example is the new Toyota Supra, which only comes as automatic. There's surely a justified reason for the omission of a manual option, especially when we take a look at these manual take-rate figures provided by CarBuzz.

You can buy the Corolla sedan and hatch as a manual, just like the Tacoma, Yaris sedan and the 86 coupe. CarBuzz discussed the manual gearboxes' popularity with a Toyota representative at a Supra launch event, and the numbers are telling.

How To Turn Off Safe Mode On Android

How To Turn OFF Safe Mode On Android

In Windows whenever you need to debug a problem that’s plaguing your computer system, the best way is to go into Safe Mode (check out our guide here). In case you’ve never had the misfortune of experiencing it, Android also has its own Safe Mode which it enters into when it detects that something is wrong, like an app error, malware, or operating system glitch.

It can be a bit disconcerting to see your phone boot up in Safe Mode, but if you have experienced it (or are experiencing it), here are several ways that you can get out of Safe Mode and back into normal mode.

How To Transfer Music From Itunes To Android

How To Transfer Music From iTunes To Android

The great thing about using iTunes with the iPhone is that syncing your music is pretty simple and straightforward. However, if you’ve switched from an iPhone to an Android device and want to transfer your iTunes music over, there are several ways that you can actually go about doing it, and we are going to show you how.

This is the most basic and straightforward method available where you literally copy your music files from your iTunes library and paste it into your Android handset. Here’s how you do that.

2019 Subaru Forester Sport Vs 2019 Toyota Rav4 Adventure: How They Compare

2019 Subaru Forester Sport vs 2019 Toyota RAV4 Adventure: How they compare

The 2019 Toyota RAV4 is not only completely redesigned, but reimagined as well. As we detailed in our first drive review, the new RAV4 ditches the more car-like and uber-utilitarian nature of its predecessor for something that's more SUV-like and characterful. It's a new direction exemplified in the RAV4 Adventure trim, which specifically targets those folks who plan to actually take their compact crossover to the great outdoors. People who will get it dirty, use the extra ground clearance and store things on the roof. You know, the sort of people who would consider the 2019 Subaru Forester. It too is redesigned for 2019, but its transformation is almost unnoticeable compared to the RAV4's. Forester customers were obviously quite happy with the way things were.

We got a chance to drive both the 2019 RAV4 and 2019 Forester back-to-back last week both on-road and off-road, so let's take a look at how they compare, including a look at their on-paper specs.

How Enthronement Schedule Is Different This Time

How enthronement schedule is different this time

The ceremonies marking Crown Prince Naruhito's enthronement will be different from the ones his father experienced when he took the throne.

A big change this time is that two key ceremonies will happen this fall -- the same year as the enthronement.
Last time, both were staged nearly two years later because the succession occurred when Emperor Showa died.
The country was in a period of mourning and officials needed time to prepare for the ceremonies.

How To Use Gmail Confidential Mode (windows, Android, Ios)

How To Use Gmail Confidential Mode (Windows, Android, iOS)

Sending emails hasn’t changed much in the last decade or so. Yes, the user interface has gotten better and we have more features but the basic stuff remains the same. Despite all the newness security is still one of the main concerns we have while using email. Gmail has decided to tackle this issue with the help of Gmail Confidential mode.

You might be wondering what is Gmail Confidential mode? No, it’s not an encryption service by Gmail. The confidential mode works by deleting the email after a specific time period, much like the burner phones most of us have used in the past.