Company Snapshot: Fastenal Company
2001 Theurer Blvd
Winona, Minnesota 55987
Total Annual Sales:
Willard D. Oberton- Chairman of the Board
Leland J. Hein – President, CEO
As was expected, recently announced annual net sales rose a typically strong 12.2 percent. This, as total store count was reduced by 1.9%, netting fifty fewer stores than was reported at the end of 2013. Over the past two decades, the company has reported a reduction in annual sales just once, during recession-struck, 2009.
Most superbly run companies rarely experience executive movement at the top. Fastenal has been no exception. Thus it is of considerable note that late last year Willard Oberton announced that he was relinquishing his position as corporate CEO, as of year’s end. Days later it was announced that President, Leland J. Hein, would add the CEO position to his presidency. Not surprisingly, Mr. Oberton will continue to serve as Chairman of the Board while continuing to mentor Mr. Hein.
Executives at Fastenal clearly believe they serve as a team. This sense of teamwork over the long term is a key factor in the company’s historic, continual rise.