Fastenal company veteran Dan Florness — CEO since late 2015 — plans to step down on July 16, 2026. He expects to remain with Fastenal as a strategic advisor until 2028.

The fasteners, MRO and construction supplies distributor’s board appointed current President and Chief Sales Officer Jeff Watts to succeed Florness.

“There is the complete confidence of Dan and the entire Board for Jeff to be Fastenal’s next CEO to further lead with the cultural values Robert Kierlin and the Founders established decades ago,” stated Fastenal board chair Scott Satterlee. “We are very excited about this next chapter in Fastenal’s history.”

Watts first joined the company in 2003 as Managing Director of Fastenal Europe. He became Executive VP of International Sales in 2015, was promoted to CSO in mid-2023 and added the role of company president in 2024.

Florness joined Fastenal as CFO in 1996.

“Jeff has a great ability to spot and develop talent, a great ability to align people and resources in the pursuit of a common goal and 30 years of knowledge serving our customers,” Florness added.

The transition announcement comes at the end of a leadership transition year for Fastenal. Nine year CFO Holden Lewis departed in April. Former Beko Europe CFO and longtime Whirlpool veteran Max Tunnicluff succeeded Lewis in November. Company Founder and former Chairman Bob Kierlin, 85, died in February.