Fastenal CEO Daniel Florness to step down July 2026; Jeffery Watts named successor

FASTENAL CO

Daniel L. Florness to step down as CEO and resign from Board effective July 16, 2026; will serve as Strategic Advisor until early 2028.
Jeffery M. Watts, current President and Chief Sales Officer, appointed as next CEO effective July 16, 2026.
Succession plan began in August 2024 when Watts became President; Board expresses confidence in Watts.
Florness's decision not due to any disagreement with Fastenal or Board; compensation unchanged until transition.

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