Bloomberg Businessweek Fastenal CEO on US Manufacturing, Emerging Tech, Leadership Challenges
Jan 27, 2026
Daniel Florness, former Fastenal CEO who led the company since 2016 after joining in 1996, reflects on company health as he prepares to step down. He discusses mixed economic signals and pockets of industrial recovery. He explains sourcing shifts away from China, regional reshoring trends, pricing dynamics, and how AI and data-center demand are reshaping manufacturing.
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CEO Letter And Leadership Role
- Florness says he was not aware of the Minnesota CEOs' open letter and is based two-and-a-half hours from Minneapolis–St. Paul.
- He adds he would have signed it and supports dialing down tensions.
Industrial Demand Is Mixed, Share Gains Drive Growth
- Fastenal reads the ISM purchasing managers index as a key economic signal and notes it has been below 50 for most of the past 38 months.
- Dan Florness says recent double-digit growth was driven by taking market share, not a broad economic tailwind.
Data Center Demand Seen In Field Visits
- Dan Florness describes a mechanical contractor on the East Coast whose business was booming because 70% of activity tied to data centers.
- He uses that visit to illustrate real, localized strength from AI/data-center construction.