8-KLeadership Changes

FASTENAL CO 8-K Report, Executive Changes (Nov 6, 2008)

Filed November 6, 2008For Securities:FAST

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.

Frequently Asked Questions

Robert A. Hansen plans to retire from the Fastenal Board of Directors effective at the end of the next Annual Meeting of Shareholders, which is scheduled to be held in April 2009.

Mr. Hansen's contributions were particularly noted in providing advice and guidance related to Fastenal's extensive training and leadership development programs. His academic background is in marketing and logistics management.

Yes, Fastenal is actively identifying potential director candidates to fill the seat vacated by Mr. Hansen. Additionally, the company is considering adding one more member, which would increase the overall size of the Board of Directors.

No, this Form 8-K filing does not include any financial results or performance updates. It is solely related to a change in board composition, specifically the planned departure of a director and potential board expansion.