Summary
Fastenal Company (FAST) announced a change to its Board of Directors with the election of Ms. Irene A. Quarshie, effective June 9, 2023. This appointment expands the Board from ten to eleven members, with Ms. Quarshie serving as an independent director until the next annual shareholder meeting. Ms. Quarshie brings extensive experience in supply chain, logistics, and risk management, currently serving as Senior Vice President of Global Supply Chain and Logistics at Target Corporation. Her background at a major retailer like Target is expected to provide valuable insights as Fastenal continues to navigate complex supply chain environments. The company stated there are no undisclosed arrangements or transactions involving Ms. Quarshie, and she will be compensated according to the existing director compensation policy.
Key Highlights
- 1Fastenal Company has appointed Ms. Irene A. Quarshie as a new independent director to its Board of Directors.
- 2The addition of Ms. Quarshie increases the total number of directors on the Board from ten to eleven.
- 3Ms. Quarshie's appointment is effective June 9, 2023, and she will serve until the Company's next annual shareholder meeting.
- 4Ms. Quarshie possesses significant experience in Global Supply Chain and Logistics, currently holding the role of Senior Vice President at Target Corporation.
- 5Her prior roles at Target Corporation include Vice President of Product Quality and Responsible Sourcing, and Director of Government Affairs, indicating a broad range of relevant expertise.
- 6The company confirmed no undisclosed arrangements or related party transactions involving Ms. Quarshie.
- 7Ms. Quarshie will receive compensation in line with Fastenal's existing director compensation policy, including a pro rata annual retainer and equity award.