Summary
This Form 8-K filing from Fastenal Company (FAST) announces the planned retirement of director Robert A. Hansen, effective at the April 2009 Annual Meeting of Shareholders. Mr. Hansen, who has served on the Board since 1999 and has been a member of the Audit and Compensation Committees, is an associate professor at the Carlson School of Management. His contributions, particularly in training and leadership development, were acknowledged by Chairman Robert Kierlin. The company is actively seeking to fill Mr. Hansen's vacant board seat and is also considering an expansion of the Board by adding one additional member. This filing does not contain financial results but signals a change in board composition and a potential increase in the size of the board. Investors may wish to monitor the company's announcements regarding new director appointments.
Key Highlights
- 1Director Robert A. Hansen plans to retire from the Fastenal Board of Directors in April 2009.
- 2Mr. Hansen has served on the Board since 1999 and is a member of the Audit and Compensation Committees.
- 3His expertise in marketing and logistics management, especially in training and leadership development, was highlighted.
- 4Fastenal is in the process of identifying candidates to fill the departing director's seat.
- 5The company is also considering increasing the size of its Board of Directors by one member.
- 6The filing is an announcement of a director's planned departure and potential board expansion, not a financial report.