Fastenal Names New Executive Vice President of Strategy and Communications

Rhea-AI Summary

Fastenal Company (Nasdaq: FAST) has announced the promotion of Donnalee K. Papenfuss to the newly created position of Executive Vice President of Strategy and Communications, effective November 1, 2024. In this role, Papenfuss will lead marketing and drive strategic initiatives in technology, sales, and ESG, while enhancing communication efforts to support these initiatives.

Papenfuss has been with Fastenal since 1999, most recently serving as Vice President of Contract Development and Support from February 2014 to October 2024. Her responsibilities have included sales enablement, development, and support functions, as well as overseeing Fastenal's internal chatbot and digital assistant, Blue, and leading the company's ESG Community of Practice.

CEO Dan Florness expressed excitement about Papenfuss's vision and leadership as Fastenal continues to evolve as a technology-focused supply chain partner to its customers.

Positive

• Creation of a new executive position focusing on strategy and communications
• Promotion of a long-term employee with 25 years of experience at the company
• Emphasis on technology, sales, and ESG initiatives

Negative

• None.

WINONA, Minn.--(BUSINESS WIRE)-- Fastenal Company (Nasdaq: FAST) (herein 'Fastenal') has promoted Donnalee K. Papenfuss to the position of Executive Vice President of Strategy and Communications effective November 1, 2024. In this newly created role, Ms. Papenfuss will lead marketing and drive strategic initiatives in the areas of technology, sales, and environmental, social, and governance (ESG). Additionally, she will enhance communication efforts to support these initiatives and ensure alignment with overall business objectives.

Ms. Papenfuss has served as Fastenal's Vice President of Contract Development and Support from February 2014 to October 2024. In this role, she has led teams responsible for various sales enablement, sales development, and sales support functions – from providing tools and resources to help sellers in the field succeed in their roles to developing proposals and facilitating workflows for contract negotiations. In recent years, her role has expanded to include oversight of Blue (Fastenal's internal chatbot and digital assistant) as well as leadership of Fastenal's ESG Community of Practice. In the past year, Ms. Papenfuss has also facilitated the corporate strategic planning process with company executives. From July 2006 to February 2014, Ms. Papenfuss was our Director of Government and Diversity Affairs. Ms. Papenfuss joined Fastenal in 1999 and, prior to July 2006, served in various roles of increasing responsibility.

"Congratulations to Donnalee, her teams, and everyone who has helped her develop her skill set over the course of her 25-year career at Fastenal," said Fastenal CEO Dan Florness. "We're excited for the vision and leadership she'll bring as we continue to evolve as a technology-focused supply chain partner to our customers."

About Fastenal

Fastenal provides a broad offering of industrial supplies, including fastener, safety, and metal cutting products, to manufacturing, construction, and state and local government customers through more than 3,500 in-market locations (branches and customer-specific Onsite locations) spanning 25 countries. With continual investment in tailored local inventory, dedicated local experts, and flexible FMI^® (Fastenal Managed Inventory) and digital solutions, we help our business partners achieve product and process savings across the supply chain – a "high-touch, high-tech" approach encapsulated by our tagline, Where Industry Meets Innovation^™. Our local service teams are supported by 17 regional distribution centers, a captive logistics fleet, multiple teams of industry specialists and support personnel, and robust sourcing, quality, and manufacturing resources, enabling us to grow by getting closer to customers and providing innovative and comprehensive solutions to customer supply chain challenges.

Additional information regarding Fastenal is available on the Fastenal Company website at www.fastenal.com.

FAST-G

View source version on businesswire.com: https://www.businesswire.com/news/home/20241017815288/en/

Taylor Ranta Oborski

Accounting Manager

507.313.7959

Source: Fastenal Company

FAQ

Who is Fastenal's new Executive Vice President of Strategy and Communications?

Donnalee K. Papenfuss has been promoted to the position of Executive Vice President of Strategy and Communications at Fastenal (FAST), effective November 1, 2024.

What will be Donnalee Papenfuss's responsibilities in her new role at Fastenal (FAST)?

In her new role, Donnalee Papenfuss will lead marketing and drive strategic initiatives in technology, sales, and ESG, while enhancing communication efforts to support these initiatives and ensure alignment with overall business objectives.

When will Donnalee Papenfuss start her new position at Fastenal (FAST)?

Donnalee Papenfuss will start her new position as Executive Vice President of Strategy and Communications at Fastenal (FAST) on November 1, 2024.

How long has Donnalee Papenfuss been with Fastenal (FAST)?

Donnalee Papenfuss has been with Fastenal (FAST) for 25 years, joining the company in 1999 and serving in various roles of increasing responsibility.