Current President Yuka Nagashima is leaving the company to pursue other interests. She will be available to the company in an advisory capacity.

Nagashima, who grew up in Kobe, Japan, joined LavaNet in 1996 as a sales representative and two years later was named president. She successfully steered the company from its origins as a consumer Internet service provider to its current focus as a high-end business service.

Hawai'i's rank on $4B of bonds raised

Hawai'i had its credit rating on $4.1 billion of bonds raised to the third-highest rank by Fitch Ratings yesterday because of an accelerating economy and booming tourist industry that has caused the state's tax revenue to soar.

Fitch raised the state's rating one rank to AA, two below the highest credit rating, it said in a statement. The change was made in advance of Hawai'i's scheduled sale of $350 million of bonds next month through a group of banks led by Citigroup Inc.

"The upgrade to AA is based on the increasing strength of Hawai'i's economy, which has led to stellar revenue growth and very large fund balances," Fitch said in the statement.

The number of visitors to Hawai'i has picked up over the past two years, recovering from a lull that followed the Sept. 11, 2001, terrorist attacks, the statement said. The growth of personal income has outpaced the U.S. over the last three years as it has added jobs not tied to tourism, Fitch said.