Fastenal CEO Willard Oberton has officially tendered his resignation to the company's board of directors, which has already named a successor in president Leland Hein Jr.
Hein has been with the company since 1985 and has held various sales and managerial roles, including general manager, district manager, regional VP and EVP sales. He has been serving as president since July 2012.
Oberton gave his notice on Nov. 3, stating that he plans to resign, effective Dec. 31, 2014. Hein will step into his new role on Jan. 1.