Fastenal appoints interim CFO, raises executive salary

WINONA, MN – Fastenal Company (NASDAQ:FAST), a major player in the retail building materials and hardware industry with a market capitalization of $43.5 billion, announced today the appointment of Sheryl A. Lisowski as interim Chief Financial Officer, effective April 17, 2025. The decision was made by the company's Board of Directors on April 10, 2025. According to InvestingPro data, Fastenal maintains a "GREAT" financial health score, supported by strong profitability metrics and a 33-year track record of consistent dividend payments.

Lisowski, who has been with Fastenal since 1994, currently holds the position of Executive Vice President – Chief Accounting Officer and Treasurer, roles she has served in since December 2020. Prior to this, she was the Controller, Chief Accounting Officer, and Treasurer from August 2016 to November 2020. Lisowski also has previous experience as interim CFO, a position she held from January 2016 to August 2016. Under the current management team, the company has maintained impressive financial metrics, including a return on equity of 33% and a strong current ratio of 4.67.

In her new role as interim CFO, Lisowski's base salary will increase from $320,000 to $440,000. Additionally, her quarterly cash incentive bonus will be tied to the company's performance, specifically to the percentage increase in pre-tax and net income compared to the same quarter of the previous year. She will also remain eligible for a supplemental bonus under Fastenal's Return on Asset (ROA) Plan for 2025.

The salary adjustment and incentive bonus will begin on her effective appointment date and will continue until the end of the quarter in which her interim CFO appointment concludes. There will be no new stock options granted to Lisowski in connection with her appointment as interim CFO.

Fastenal has not disclosed any further arrangements or understandings regarding Lisowski's selection as interim CFO, nor are there any reported transactions involving Lisowski or her immediate family that would require disclosure under SEC regulations.

This executive shuffle comes as Fastenal continues to navigate the competitive landscape of the retail building materials and hardware sector. The company's decision to elevate Lisowski to the interim CFO role reflects her extensive experience within the company and the board's confidence in her financial leadership. InvestingPro analysis reveals 12 additional key insights about Fastenal's performance and outlook, available in the comprehensive Pro Research Report, which transforms complex financial data into actionable intelligence for investors.

The information reported is based on the latest 8-K filing by Fastenal with the Securities and Exchange Commission.

In other recent news, Fastenal Company announced a second-quarter cash dividend of $0.44 per share, reflecting a slight increase from the previous quarter's dividend of $0.43 per share. This dividend is set to be paid on May 23, 2025, to shareholders of record as of April 25, 2025. Wolfe Research upgraded Fastenal's stock rating from Underperform to Peerperform, highlighting the company's defensive positioning and strong financial metrics. Meanwhile, Stifel adjusted its price target for Fastenal to $82, down from $86, while maintaining a Hold rating, citing the company's fourth-quarter performance that fell short of revenue and AEBITDA expectations. KeyBanc also maintained a Sector Weight rating on Fastenal, noting the company's stock performance despite an earnings miss attributed to seasonal factors. Additionally, Fastenal announced changes to its Board of Directors, with Nicholas J. Lundquist stepping down and Brady D. Ericson being elected as a new independent director. Ericson, who is the President and CEO of PHINIA Inc., will also join Fastenal's Audit Committee. These developments reflect Fastenal's ongoing efforts in corporate governance and strategic positioning.

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