The 2020 Mid-Year Economic Update_long

Oberton Back as CEO at Fastenal

Hein steps down as CEO and returns to COO; Oberton retakes reins of company.

Lee Hein will step down as CEO of The Fastenal Company (NASDAQ: FAST), and return to his previous position of COO, and former CEO Will Oberton will reassume the Winona, MN, company's top post, effective July 20, according to a form the company filed with SEC.

Oberton will continue to serve as chairman of the board of the company and Hein will continue to be a director. Hein will take over operations and sales, while Oberton will oversee financial, information technology and human resources.

Oberton stepped down as CEO in December when Hein took over. His tenure – and the company's new year – began with significant tailwinds following a stellar 2014, and Fastenal's most recent earnings report showed sales improve 5 percent and profit jump 7.5 percent.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.