Island Air chief operating officer Bruce Wetsel has stepped down. His duties will be assumed by Chief Financial Officer Leslie Kaneshiro, who will take on the vacant title of chief executive officer.

Wetsel, who joined the company last May, will serve as an outside consultant for the interisland carrier.

The corporate moves come as Island Air has streamlined its operations in recent months in response to the sluggish local economy.

ANNUAL BIA-HAWAII SHOW THIS WEEKEND

The Building Industry Association of Hawaii will hold the 16th annual Home Building & Remodeling show Friday through Sunday at the Neal Blaisdell Exhibition Hall.

More than 100 of Hawai'i's top contractors, suppliers and industry experts will take part in the show, which features exhibitor booths and demonstrations.

General admission is $5. Three-day passes are available for $7; children under 12 are admitted free with each paid adult. A special $2 admission is available Sunday for those ages 55 and older; $2 discount coupons are available at www.biahawaii.org.

ELECTRIC-CAR SERVICES FIRM RAISES $350M

Better Place, the California-based company proposing to set up a network of battery swap stations for electric vehicles, said it raised $350 million in investor financing to help advance its plans.

The company said the funding will help it expand geographically while continuing development of its systems and technology. It said it intends to expand in markets where economics and returns are optimized, notably in Europe and Asia.

The company also has been working toward starting a pilot project in Hawai'i and California.

MARTIN & MACARTHUR OPENING 4TH STORE

Martin & MacArthur will open its fourth retail showroom Friday at Whalers Village in Kä'anapali.

As with all Martin & MacArthur stores, the new location will feature the company's koa furniture and home accessories, all made in Hawai'i.

The 3,300-square-foot store will be the company's second on Maui and its largest in the state. Its other stores are at the Shops at Wailea, and on O'ahu at Ward Centre and Ala Moana Center.

— Advertiser Staff