Fastenal names new CEO

Industrial and construction supplies retailer Fastenal said CEO Willard Oberton planned to resign from the 2,700 store retailer effective December 31.



The company on Friday, Nov. 7 disclosed that Oberton notified the board of directors the prior Monday of his decision to resign. Plans call for Oberton, 56, to remain as chairman of the company and to be actively involved in strategic planning and performance measurements.



Oberton’s decision to step down prompted the company to elevate president Leland Hein, Jr. to the additional role of CEO and appoint him to the board. Hein, 53, originally joined the company in 1985 and during his tenure has held various sales and managerial roles, serving as a general manager, district manager, regional vice president, executive vice president-sales, and, most recently, president of the company, a position he has held since July 2012.



Fastenal is a major retailer that competes with Home Depot and Lowe’s by selling different types of industrial and construction supplies in a broad range of categories.