Fastenal Founders Bob Kierlin, Steve Slaggie to Retire From Board of Directors

~In accordance with Fastenal's (Nasdaq:FAST) director age-limitation policy, two of our founders, Bob Kierlin (chairman) and Steve Slaggie (director), will retire from Fastenal's board of directors on April 22, 2014. Although both will remain part of the 'Fastenal family' as mentors, advisors, and friends, their retirement marks the end of their official roles with the organization they helped build from a small-town fastener shop into a multibillion-dollar global business.

 

As two of Fastenal's five founding members, Kierlin and Slaggie have guided the company since 1967. In addition to serving on the board of directors for 47 years, Kierlin was Fastenal's president until 2001 and CEO until 2002; and Slaggie was the company's treasurer, insurance risk manager, and investor relations director from 1987 to 1996. Two of the other three company founders retired from the board in recent years - John (Jack) Remick in 2007, and Henry (Van) McConnon in 2009. The fifth founder, Mike Gostomski, is slated to retire in 2015. (source: Fastenal)

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