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Fastenal CEO Oberton to resign

He will remain as chairman; current president Leland J. Hein Jr. will become CEO in Jan.


Fastenal chief executive officer Willard D. Oberton announced to the company's board of directors that he intends to resign effective Dec. 31.

No reason was given for the resignation.

Current president Leland J. Hein Jr. will take on the additional responsibilities as CEO effective Jan. 1, 2015. Hein's term will expire concurrently with the current term of the other executive officers of the company (or until his successor is elected and qualified).

Hein, who is 53 years old, originally joined Fastenal 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.

Oberton, who is 56 years old, will continue to serve as chairman of the board, maintain an office, and be actively involved in strategic planning and performance measurements for the company, and will continue to serve as a mentor to Hein, the company said.

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