Fastenal CEO Oberton Among 10 “Best Bosses for the Buck”
Willard Oberton, CEO of Fastenal Company, is among the 10 public company CEOs in the country who have delivered the best bang for their shareholders' buck, according to a Forbes report.
For the magazine's recently released “Best Bosses for the Buck” list, it analyzed whether each company's “stock has lined [shareholders'] pockets as well as the boss's.” The 10 executives on the list have reportedly delivered the highest returns to their companies' shareholders relative to their total compensation.
Forbes took into consideration a total of 206 CEOs of American public companies who have been in office for at least six years. It then looked at the annual return they delivered to shareholders over the past six years.
According to Forbes, Oberton has earned an average annual salary of $1.8 million during the last six years, while Fastenal's shareholders have received a 17 percent average annual return on their investments during the period.
Oberton joined Winona-based Fastenal in 1980 as a part-time warehouse worker, according to Forbes. At the time, the company had about $2 million in sales and 35 employees. Oberton climbed up the corporate ladder, serving the company in several roles until he became CEO in 2002. Today, the company has 2,500 stores and more than $2 billion in annual sales. It is among Minnesota's 25-largest public companies based on revenue.
To view the full list of the “Best Bosses for the Buck,” click here.
Meanwhile, two other Minnesota executives ranked high on Forbes' list of the highest-paid CEOs in the country. Among CEOs of the 500 largest public companies in America, Minnetonka-based UnitedHealth Group's Stephen Hemsley, whose annual salary totals $48.83 million, ranked eighth, and Gregg Steinhafel of Minneapolis-based Target Corporation, whose annual salary totals $28.6 million, ranked 30th.
At least 12 other CEOs of Minnesota companies were also listed, along with their annual compensation. To view that full list, click here.