Fastenal Company (FAST) has shared an update.
Fastenal Company has announced the appointment of Mr. Jeffery M. Watts as the new President and Chief Sales Officer starting August 1, 2024, succeeding Mr. Daniel L. Florness who will remain as CEO. Bringing extensive experience from his time within the company since 1996, Mr. Watts will maintain his Chief Sales Officer duties along with his new role as President. His compensation includes an annual salary of $550,000 and a performance-based quarterly bonus, without additional stock options until 2025. The company has confirmed there are no related transactions or familial ties affecting the appointment.
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