Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. What have we got right? 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. Those people become good leaders early in the piece they might be only leading a couple of people by the time they make branch manager status but they understand the roles of leadership within Mainfreight. His company has been a shining example of success amid tough global economic conditions. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. And what do you believe leaders need to excel at? Mainfreight managing director Don Braid. Im not sure well see driverless trucks in NZ for some time to come. | Thats the key. "That gives us an enormous amount of opportunity.". You can be profitable and not collect the cash and go broke. Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. 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. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Is our service or a product still current? We aim to bring you long-term focused analysis driven by fundamental data. "He never talks about himself and always talks about long-term goals," Hunt says. Other Current Directorships: Zac: What is the Mainfreight way when it comes to culture? For more information, please visit our cookie statement. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Don: It should be where your skills are. The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Wishing you the best in England and when you return to NZ. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. d***@mainfreight.com. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. We were lucky enough to have a really incredible chat with Mainfreight CEO Don Braid about what he has learnt as the CEO of Mainfreight. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. Subscribe to protect quality NZ journalism. "You need some energy and you need to be on the front foot," he says. How does that actually work, practically? Hamish. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Mainfreight boss: China 'understands our value' - NZ Herald Mainfreight completes huge software roll-out, spanning A/NZ, US and I'm pleased I didn't do anything else.". How are we changing the business accordingly? document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Mainfreight will pay a discretionary bonus of $43.9 million, up 61% from last year's bonus of $27.3m, after a record result to March which saw net profit up by $40.1m to $188.1m. Top 200 : Deloitte/Management magazine Executive of the Year Don Braid [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. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. "He implements things very well and you don't have to remind him about anything you're trying to achieve. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. The key for me is to be in the business as much as possible, to be visible. Mainfreights two new build warehouses, a 50,000 square metre facility in Sydney and 30,000sqm build in Melbourne, are scheduled for completion by end next year. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Don Braid - newzealandinc.com Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Appointment to Board 2000 - With Mainfreight since 1994. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. Zac: Can you share more about your profit share? Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. COVID-19 has had a significant impact on freight and supply chains worldwide. "He never moans about the currency and is always positive.". The Biosecurity Business Pledge group has launched two new biosecurity guides. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. 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. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. Thanks for your comments about Don Braid and Mainfreight. Don: The recruitment of our people sits with the branch managers. Prior to joining Air New Zealand, he held range of senior management positions both within New Zealand and overseas, including roles with the National Australia Bank, Bank of New Zealand, Telecom NZ and ITV Group in the UK. Photo / Supplied . In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. | 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. [3][4], When the company was founded it entered a highly regulated transport market. For me its being in the business, with people and in particular with customers. 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. In addition, we use tracking cookies, which can collect information about you and follow your internet activity within our website, and possibly outside our website as well. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. We offer lots of training as well, internally and externally. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. Don: The culture is really important and our culture starts with those closest to the customer. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. Early on, New Zealand had great lessons to take to the rest of our network. Group Managing Director at Mainfreight NZ . Don: Its been interesting! 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: For us, its not about the short game, its about the long game. Zac: Whats a bit of business advice you can share? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Check out our latest analysis for Mainfreight. Weve got examples of that in our business right now. 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 gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. As a young salesperson aged 19, I couldnt make a cold call. Youve got to have good outlets. CEO compensation can have a massive impact on performance, but it's just one element. Its revenue is up 5.9% over the last year. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Zac: Don, if you owned your own SME business at the moment, what would you be focusing on going forward to be as successful as you could be under this environment? 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. What havent we got right? Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. They know that now and can alter those decisions as they head into the week in front of them. Director Profiles - Mainfreight I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Us taking away that clock was about responsibility and about taking away that control from head office. 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. The multinational logistics and transport group announced a year end dividend of 45 cents a share, taking the full dividend for the year to 75c, up 27% on the prior year. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Don Braid. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid 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. In light of current trends, we will provide a nine-month trading update mid-February 2022. I learned that early in the piece and I think its stood me in good stead. [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. 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. "I just think that's disgusting," he says. Get in touch with us directly. Zac: Lets talk more about those weekly P&Ls. He knows where the company is going and, more importantly, how it will get there. Zac: Don, what makes you good? Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. But the excitement is justified. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Don: I get out of the way. Look after your people and theyll look after the business. "I probably wasn't qualified enough to go to university," Braid says. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. Don Braid (Mainfreight) Credit: Mainfreight . Mainfreight shareholders would be similarly pleased. The relationships we develop, both with suppliers and with customers, are there for the long term. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. 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. Cash flow is essential for any business survival. What more could I be doing in the business to actually grow my revenues in these difficult times? Business Leader of the Year 2011 Winner: Don Braid - NZ Herald He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. 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. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Don Braid's Phone Number and Email Last Update. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. If were going to build facilities for our people, we build very good facilities to be around for a long time. I might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. That was uppermost in our mind. Appointment to Board 2000 - With Mainfreight since 1994. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. If our team on the dock is seeing poor decision-making thats eroding profitability, they will suffer because they share that profit so there comes internal pressure just as much from them as there is from us, looking at how the business is progressing. Contact. 11/5/2022 3:33 PM. "We've been in China for 20 years. Its the individuals responsibility to arrive on time and stay until the jobs finished. That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. I really want to be in front of those customers! "He's sporting and tough and makes decisions quite fast," Plested says. 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. Sam Knowles Its a huge level of success and theres satisfaction you get from that. Some of the leading players in the listed retirement sector have been raising capital. Id also be really focused on being in touch with customers. Out of that, I think weve got the culture really starting to develop. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. 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]. So a lot is about the long game. Your email address will not be published. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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. [13] The transaction was completed on 6 June 2007. I suppose were grooming people all the time for those loaded leadership roles. 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. Don: Um, I think its recognising good people. 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. Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. Chief executive, Kiwibank Don Braid. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. This article by Simply Wall St is general in nature. Brent is a senior reporter based in Queenstown. Richard Prebble is by profession a lawyer. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m.
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