Fastenal Company said Daniel L. Florness, its Chief Executive Officer since 2016, has informed the Board of Directors of his decision to step down as CEO on July 16, 2026, after nearly three decades with the company. Florness’s resignation is part of an orderly succession plan the board has overseen, which began with the promotion of Jeffery M. Watts to President and Chief Sales Officer in August 2024. The board has appointed Watts to succeed Florness as CEO effective July 16, 2026.
Watts, who joined Fastenal the same year as Florness (1996) and has led sales and customer engagement strategies, will also be appointed to the company’s Board of Directors when Florness resigns from the board concurrent with the CEO transition. Florness plans to remain with Fastenal as a Strategic Advisor to Watts through early 2028 to support a smooth leadership handover and knowledge transfer.
Fastenal, headquartered in Winona, Minnesota, is a major industrial-supply and supply-chain solutions company with approximately 1,600 branch locations in 25 countries. It serves customers across manufacturing, construction, warehousing, government and other sectors, combining local inventory and expertise with digital tools and logistics to support industrial procurement.
According to the company, the board expressed confidence in Watts’s ability to continue Fastenal’s customer-centric strategy and operational continuity built over the past decade, positioning the company for future growth.
