Fastenal Co. said Friday that longtime chief executive officer Daniel Florness will step aside next summer, passing leadership of the industrial distributor to company veteran Jeffery Watts as part of a planned succession.
Florness informed Fastenal’s board on Dec. 19 of his decision to leave the CEO role effective July 16, 2026. The board appointed Watts, currently president and chief sales officer, to succeed him on that date.
Board chair Scott Satterlee said the transition reflects a structured succession process that began in August 2024, when Watts was promoted to president. He credited Florness with helping drive shareholder value during his decade as CEO and said the board has full confidence in Watts’ ability to lead the company.
Florness joined Fastenal in 1996 and became CEO in 2016. Over that period, the company expanded its global footprint and sharpened its focus on customer-centered supply chain solutions, including inventory management and technology-enabled services, helping Fastenal gain market share across manufacturing, construction, and related sectors.
After stepping down, Florness is expected to remain with the company as a strategic adviser to the new CEO until early 2028 to support a smooth transition. He also plans to resign from Fastenal’s board of directors on July 16, 2026. The board said it intends to appoint Watts to fill the resulting vacancy.
Watts, who also joined Fastenal in 1996, has spent three decades in sales and leadership roles at the company. As president and chief sales officer, he has led Fastenal’s sales organization and customer engagement strategy.
“I’m honored and humbled to be the next CEO of this great organization,” Watts said, crediting Florness’s leadership and mentorship.
Fastenal operates at about 1,600 branch locations across 25 countries and employs 24,000 people. The company supplies fasteners, safety products, metal-cutting tools, and other industrial and construction supplies, with a growing emphasis on integrated supply chain and inventory management services.
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