This endeavor launched the first permanent investment into South America. Don Braid. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. By the way, its not just about us seeing those numbers. Don: I think empathy is really important. [4] This operation was expanded with depots in Melbourne and Brisbane. Those are the real world indicators of whether youve got morale correct or not or whether youve got some issues going on you need to address. Don: I get out of the way. An unabashed promoter of New Zealand success, he has an extensive background in the banking industry in New Zealand and Australia, with senior management experience in marketing, strategic planning, retail services and business development. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Engage via Email. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own name, which reveals to us that they have a significant personal stake in the company. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. By using this website you consent to the use of cookies in accordance with our privacy policy. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Rob Fyfe "It's not about what I've done - it's about what we've done and what the business has done," he says. He brings strong financial skills and business acumen to the role. Don: Um, I think its recognising good people. don@mainfreight.com; Profile. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. So we are developing our people to be the best they possibly can be. Indonesia ups trade potential with focus on corporate governance, NZ business needs to invest more in reputation, NZ corporates taking a lead in health & safety. COVID-19 has had a significant impact on freight and supply chains worldwide. | "There's no bureaucracy or hierarchy or superiority in the business. Mainfreight - Wikipedia As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Required fields are marked *. 11/5/2022 3:33 PM. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. But they had different regulations for different countries: it was a metre between the two trucks, it was a metre and half in Belgium, and it was two meters in France. As an example, we know what money weve made or lost last week in every single one of those 282 branches as of about half an hour ago. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Concerned about the content? Cash flow is essential for any business survival. It only represents a small part of our revenue, but . Alternatively, email editorial-team@simplywallst.com. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Not bad for a Kiwi trucking company! His company has been a shining example of success amid tough global economic conditions. So what you produce in terms of profitability is real. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. Formerly Halford Young, Halford is a private logistics company and freight forwarder with operations and networks in Australia and New Zealand, Japan, Germany, throughout Asia and the United States.[6]. "You need some energy and you need to be on the front foot," he says. Will be fundamentally different from the last one. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. What have we got right? On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Zac: What is the Mainfreight way when it comes to culture? "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. Weve made this article available for free. Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! You need to have been there 12 months to earn the full bonus that everybody else gets. Biography Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys' High School and has over 30 years' experience in freight forwarding and logistics both New Zealand and internationally.. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. So everything that we do is about being here for a long time. But well and behold, were in the perfect position not a lot of debt, trading really well, coming off a really good financial year the year before. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. Id also be really focused on being in touch with customers. What we put in place here in New Zealand became the blueprint for the organization around the world. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. See ourstandard terms and conditionsfor more information. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. If were going to build facilities for our people, we build very good facilities to be around for a long time. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Group Managing Director at Mainfreight NZ . Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. We're trying to break all that down.". He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Deloitte Top 200 Award Winners Announced for 2019 His father was a truck driver, but he says that didn't influence his career decisions. Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). The firm's shares have been one of the best performing stocks on the NZX, returning more than. You know, people arrive when they arrive and they leave when they leave. Learn more. For us its about pushing the decision-making as close to the customer as possible, getting those people to make decisions rather than pushing them upstairs for someone else to make. Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 30 years experience in freight forwarding and logistics both New Zealand and internationally. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. And sometimes, particularly so in New Zealand, they see the market ultimately being as quite small, when in fact their product or service is good enough to take to the world. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Is our service or a product still current? Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. I just have a belief and determination that weve got a pretty good business here. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. At the end of the day, the decisions they made will be seen in the weekly results. Director Profiles - Mainfreight And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Zac: Whats a bit of business advice you can share? Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. Initially wed take 10% of that profit and share it equally with everybody in the branch but as weve developed and gotten a little more sophisticated, weve applied quality stats to the numbers. Where do we need to be? As you get bigger, staff engagement and culture becomes more difficult. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. So take a peek at this free list of interesting companies. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994. For more information, please visit our cookie statement. Component 2020 Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. "We've been in China for 20 years. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. So youre not only giving them a responsibility for the P&L, but youre also giving them the responsibility of whos going to join our family. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. Don from Mainfreight talks to Fisher Funds. What are the things you do that maybe others dont do that actually make you lead this organization? The firm has earned a reputation within the market for being slickly-run. How does that actually work, practically? Mainfreight's $43.9m 'family' bonus | BusinessDesk And I suppose the key thing that we had in our mind was how are we going to run this business to survive and not make anybody redundant. [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. Its great fun. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. Weve got examples of that in our business right now. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Don: Its been interesting! Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Some people dont want any more responsibility they find their own ceiling and thats fine. CEO compensation can have a massive impact on performance, but it's just one element. I think our owner drivers are a key component of the relationship with the customer. Don Braid (Mainfreight) Credit: Mainfreight . Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. I dont believe that. Its the individuals responsibility to arrive on time and stay until the jobs finished. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Mainfreight boss: China 'understands our value' - NZ Herald Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. [3] [4] When the company was founded it entered a highly regulated transport market. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. But the excitement is justified. So the weekly P&L puts them on the spot. So long term, we have a really experienced leadership team. Appointment to Board 2000 - With Mainfreight since 1994. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. Our data indicates that Mainfreight Limited has a market capitalization of NZ$6.0b, and total annual CEO compensation was reported as NZ$3.0m for the year to March 2020. Zac: Don, having a decentralized business, whats been your approach to leadership? Its revenue is up 5.9% over the last year. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . I dont see this as a job, so therefore the stress levels arent as strong. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. Previously, Don was a Political Columnist at Calgary Herald. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. He has an enviable track record of integrity and professionalism and wide ranging business experience. Mainfreight completes huge software roll-out, spanning A/NZ, US and Thats the key. National's three waters policy is only cosmetically distinct from Labour's. Out of that, I think weve got the culture really starting to develop. Who wouldnt want exposure to the retirement sector? In 2008, the United States locations were re-branded as Mainfreight USA. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. | Thanks for your comments about Don Braid and Mainfreight. Kiwis know the firm largely through its blue trucks that ply our highways, but the company also utilises sea, train and air freight to transport goods around the world. Mainfreight people, he says, don't "live in question marks". For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. For me its being in the business, with people and in particular with customers. Theres no bullshit in the numbers, they are what the business has earned. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Zac: Lets talk more about those weekly P&Ls. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. Agreement with print tech giant Canon saves college thousands. So weve got eight and a half thousand people and 282 locations. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . "It's just a little rule that we've had because if they [analysts] keep calling us a trucking company they clearly haven't done their research.". Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. Check out our latest analysis for Mainfreight. | Should it change? Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. To join your company account for BusinessDesk and enjoy full access, Chief executive, Kiwibank Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. "If you allow the recession to roll over the top of you there's a great chance it will.". BRAID, Don - NBR | The Authority since 1970 This article by Simply Wall St is general in nature. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Don Braid - newzealandinc.com Appointment to Board 2000 - With Mainfreight since 1994. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? And thats that. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets Chief executive, Air New Zealand Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. In the decade Braid has spent at its helm, the company has become a global logistics player with operations on every populated continent apart from Africa. We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. He attributed the. And what do you believe leaders need to excel at? Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Bryan has a wealth of experience, both in executive and board roles. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits. Mainfreight half year net profit lifts 79 per cent despite supply chain [14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million.
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