Company Snapshot: Fastenal Company

Address:
2001 Theurer Blvd
Winona, Minnesota 55987

Telephone:
507 454-5374

Internet Homepage:
www.fastenal.com

Year Founded:
1967

Total Stores:
2,637

Total Annual Sales:
$3,733,507,000

Senior Executives:
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.