"He never moans about the currency and is always positive.". What have we got right? Not bad for a Kiwi trucking company! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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. 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. Email. Another attribute is straight talking. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Thanks for your comments about Don Braid and Mainfreight. If were going to build facilities for our people, we build very good facilities to be around for a long time. The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. 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. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. 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. Will His AI Plans Be Any Different? We use functional and analytical cookies on our website to offer an optimal user experience. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. By the way, its not just about us seeing those numbers. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. 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. He has led the company in strengthening its global logistics business and ensuring an increased diversification of revenue streams across many countries, trade lanes and activities provides natural protection for earnings. 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. Youve got to have good outlets. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. [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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. Zac: Lets talk more about those weekly P&Ls. Thats the key. I just have a belief and determination that weve got a pretty good business here. Get in touch with us directly. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. Since the acquisition of the Wim Bosman Group the eurozone has spiralled to the brink of economic disaster, but 52-year-old Braid says doing business on the debt-ravaged continent is nothing other than an "exciting" prospect. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! 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. Chief executive, Kiwibank Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets. Will be fundamentally different from the last one. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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. 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. 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. It only represents a small part of our revenue, but . Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Weve needed to adjust, particularly in the international sector, air freight charters rather than just normal air freight our people had never had any experience in chartering a full plane. At the end of the day, the decisions they made will be seen in the weekly results. Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. | 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. Forsyth Barr analyst Rob Mercer said the market had confidence in Mainfreight after it managed to grow revenue and market share and outperform its peers during the global financial crisis. Group Managing Director, Mainfreight. It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. Mainfreight completes huge software roll-out, spanning A/NZ, US and What do those customers look for from us? Sam Knowles Business Leader of the Year 2011 Winner: Don Braid - NZ Herald Weve got examples of that in our business right now. 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. 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. You need to have been there 12 months to earn the full bonus that everybody else gets. What else do we need to do to satisfy that bunch of customers? Theres no cross subsidies. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. [3][4], When the company was founded it entered a highly regulated transport market. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. How does that actually work, practically? 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If you trust your people, look after them and give them responsibility, theyll deliver. Save my name, email, and website in this browser for the next time I comment. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Us taking away that clock was about responsibility and about taking away that control from head office. In 2008, the United States locations were re-branded as Mainfreight USA. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking 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. It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, Well known for his mental and physical toughness, Braid is often seen working out at The Atrium Club in downtown Auckland, which offers real world fitness for men. His sartorial style was also recognised in 2006 when he was judged the national winner of the. 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. Shareholders would be glad to know that the company has improved itself over the last few years. You may withdraw your consent at any time. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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. Zac: Whats a bit of business advice you can share? In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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. Director Profiles | New Zealand - Mainfreight Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. In light of current trends, we will provide a nine-month trading update mid-February 2022. Terms of use Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. He has led the company in strengthening its global logistics business and ensuring an increased diversification of revenue streams across many countries, trade lanes and activities provides Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 43 years experience in freight forwarding and logistics both NewZealand and internationally. 5 November 2019 - Mainfreight's Don Braid has reinforced his reputation as one of New Zealand's most successful executives, being named Executive of the Decade at the 2019 Deloitte Top 200 Awards in Auckland tonight (5 December 2019).Mainfreight was also named Company of the Year, sponsored by Deloitte Digital and Marsh. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. How are we changing the business accordingly? We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Mainfreight's straight-talking group managing director has an infectious zest for business. Do also serves as a member of the Board of the Starship foundation. | 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. In the 12 months to March 31, Mainfreight - which has been one of the top performing stocks on the NZX this year - posted record sales of $1.34 billion. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. For more information, please visit our cookie statement. 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. Director Profiles - Mainfreight We dont call them staff for us, they are our people or our team. Required fields are marked *. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Zac: Don, having a decentralized business, whats been your approach to leadership? "I just think that's disgusting," he says. Mainfreight is the fourth largest company in NZ, doing over $3 billion in sales and over $300 million in EBITDA, with physical assets of $1.5 billion and debt of less than $200 million. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Zac: Don, your 100-year vision how does that work? This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. This endeavor launched the first permanent investment into South America. Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a 'maximum' of three to avoid being side-lined by major shippers.The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the 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. Zac: How do you prioritise where to spend your time in a normal week? 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. 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. FINALIST Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Don: I think its quite a long way off. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. How do you maintain a positive culture and a time of crisis? So you need to be committed for the long term.The clich about the beach, the BMW and the boat it looks pretty attractive after 10 years of hard work but what could you have created after a hundred years and have you got something thats a bit special?I think you need passion, energy, belief and the ability to develop people to run the business for the future. 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. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. Richard Prebble is by profession a lawyer. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Lessons from the Managing Director of one of NZ's most successful Engage via Email. 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. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. They love this as it makes them feel supported and that I understand their role. Don: Its been interesting! So what you produce in terms of profitability is real. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. "That gives us an enormous amount of opportunity.". He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. What are the things you do that maybe others dont do that actually make you lead this organization? 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. The firms European business where it has a footprint of more than 330,000 sqm of warehousing saw a 23.4% improvement in profit before tax to 22.35m, despite extensive lockdowns across the continent, many of which were ongoing. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Braid consistently delivers for shareholders and stakeholders alike. 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. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. "I probably wasn't qualified enough to go to university," Braid says. 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. We're trying to break all that down.". 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. Don Braid's Phone Number and Email Last Update. 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. Mainfreight declares flat dividend, hands back $11m wage subsidy As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Weve made this article available for free. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. [10] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of 8.2 million or $14 million. 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. The company is growing EPS and total shareholder returns have been pleasing. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. To join your company account for BusinessDesk and enjoy full access, Today he chairs a group of telecommunication companies. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction?

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