Fastenal Co. Appoints New CFO, Elects Directors
Ticker: FAST · Form: 8-K · Filed: Jul 12, 2024
Sentiment: neutral
Topics: executive-change, board-election, personnel
TL;DR
Fastenal just swapped CFOs and added new board members. Big leadership shakeup.
AI Summary
On July 11, 2024, Fastenal Co. announced changes in its executive team. The company elected two new directors, John E. Johnson and Michael J. Schrock, to its Board of Directors, effective immediately. Additionally, the company appointed William J. Stuebe as its new Chief Financial Officer, succeeding Daniel L. Florness who will transition to Executive Vice President. These changes are effective as of July 11, 2024.
Why It Matters
This filing indicates a significant shift in Fastenal's leadership, with a new CFO and board members, which could signal strategic changes or a focus on financial oversight.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future strategy and financial performance.
Key Players & Entities
- Fastenal Co. (company) — Registrant
- John E. Johnson (person) — Newly elected director
- Michael J. Schrock (person) — Newly elected director
- William J. Stuebe (person) — Newly appointed Chief Financial Officer
- Daniel L. Florness (person) — Outgoing Chief Financial Officer, transitioning to Executive Vice President
- July 11, 2024 (date) — Effective date of appointments and elections
FAQ
Who are the newly elected directors for Fastenal Co.?
John E. Johnson and Michael J. Schrock were elected as new directors to the Board of Directors.
Who has been appointed as the new Chief Financial Officer?
William J. Stuebe has been appointed as the new Chief Financial Officer.
What is the effective date of these leadership changes?
The changes are effective as of July 11, 2024.
What is the role of Daniel L. Florness after this transition?
Daniel L. Florness will transition from Chief Financial Officer to Executive Vice President.
What is Fastenal Co.'s principal executive office address?
The address is 2001 Theurer Boulevard, Winona, Minnesota 55987.
Filing Stats: 936 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-07-12 09:20:19
Key Financial Figures
- $550,000 — artial year of service as President) of $550,000, and will receive a bonus for each quar
Filing Documents
- fast-20240711.htm (8-K) — 35KB
- ex_99107122024pressrelease.htm (EX-99.1) — 9KB
- fastenallogo_blu.jpg (GRAPHIC) — 128KB
- 0000815556-24-000029.txt ( ) — 345KB
- fast-20240711.xsd (EX-101.SCH) — 2KB
- fast-20240711_lab.xml (EX-101.LAB) — 21KB
- fast-20240711_pre.xml (EX-101.PRE) — 12KB
- fast-20240711_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On July 12, 2024, the Company issued a press release disclosing the events described in Item 5.02 above, a copy of which is furnished as Exhibit 99.1 and is incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. INDEX TO EXHIBITS Exhibit Number Description of Document 99.1 Press release dated July 12, 2024 104 The cover page from the Current Report on Form 8-K formatted in Inline XBRL. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Fastenal Company (Registrant) July 12, 2024 By: /s/ Holden Lewis (Date) Holden Lewis Senior Executive Vice President and Chief Financial Officer