Fastenal names Leland Hein as next CEO; current CEO to resign at the end of the year

Fastenal's chief executive is stepping down and will be replaced by the company's president.

Willard Oberton, 56, will hold on to his position as chairman of the board, the company said Friday, and Leland Hein will become CEO at the start of next year.

Hein, 53, joined Fastenal in 1985, working his way up through various sales and managerial positions. He was named president just over two years ago, a position he will retain.

Fastenal Co., based in Winona, Minnesota, makes fasteners for the industrial and construction sectors. .