He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. What havent we got right? In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Copyright 2023 Institute of Directors It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Mainfreight people, he says, don't "live in question marks". 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. 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. Its revenue is up 5.9% over the last year. The firm's shares have been one of the best performing stocks on the NZX, returning more than 20 per cent in the year to date. [13] The transaction was completed on 6 June 2007. [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. Watson said she did not believe bonuses were a way. Do also serves as a member of the Board of the Starship foundation. Hi Tanya. Were thinking about being around for a hundred years. His company has been a shining example of success amid tough global economic conditions. Everyone stands on their own two feet. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. | 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. The branch managers are the kings and queens, by the way, because thats where the moneys made the national team is just there to support the branch managers. What we put in place here in New Zealand became the blueprint for the organization around the world. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. The key for me is to be in the business as much as possible, to be visible. Subscribe to protect quality NZ journalism. By the way, its not just about us seeing those numbers. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. He brings strong financial skills and business acumen to the role. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. 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. 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. How does that actually work, practically? And then its about exploring the long game. To join your company account for BusinessDesk and enjoy full access, [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. Concerned about the content? 11/5/2022 3:33 PM. Braid consistently delivers for shareholders and stakeholders alike. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. 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. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Will be fundamentally different from the last one. Experts say community investment is the future. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Hamish. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. As a young salesperson aged 19, I couldnt make a cold call. Don from Mainfreight talks to Fisher Funds. Don Braid. But the excitement is justified. 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 NBR Working Style Best Dressed Businessman Awards. "He implements things very well and you don't have to remind him about anything you're trying to achieve. 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. Don Braid. Component 2020 Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. 2023: A year of trepidation unless you take control, Talking to 2022 Westpac Supreme Business Winner, Juliette Hogan, How Fix & Fogg are winning the hearts of Americans. What have we got right? 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Whilst describing the foundation of Mainfreight in 2000, Plested said to the New Zealand Herald, "We moved all our freight by sea between Auckland, and Christchurch and Dunedin, and we worked weekend shifts to make sure we loaded and unloaded the ship using the whole of the seven days - we found that was faster and more reliable than our big competitors."[4]. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Early on, New Zealand had great lessons to take to the rest of our network. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Zac: Whats a bit of business advice you can share? "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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. Wed rather own assets than lease them. "It's not about what I've done - it's about what we've done and what the business has done," he says. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. We dont call them staff for us, they are our people or our team. 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. 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. Mainfreight shareholders would be similarly pleased. 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. 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. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Look after your people and theyll look after the business. 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. 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. Another attribute is straight talking. Some of the leading players in the listed retirement sector have been raising capital. If you trust your people, look after them and give them responsibility, theyll deliver. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. Will His AI Plans Be Any Different? "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.". Whats changed? While there was someone in the drivers seat, the computer took over the vehicle. The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Group Managing Director at Mainfreight NZ . Wishing you the best in England and when you return to NZ. Get in touch with us directly. Photo / Supplied . 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]. Appointment to Board 2000 - With Mainfreight since 1994. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? As you get bigger, staff engagement and culture becomes more difficult. Out of that, I think weve got the culture really starting to develop. They have over 8500 staff in 280+ locations across 28 countries, so it was pretty cool (and humbling) for us to be able to chat to Don with some of our Business Changing clients recently. He is an outstandingly consistent and capable chief executive. Don: It should be where your skills are. Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. 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. 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. WINNER "He's sporting and tough and makes decisions quite fast," Plested says. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Weve sort of tucked on the back of some trials in Europe and in the States where they were running in threes and fours behind each other, all connected by a computer. Us taking away that clock was about responsibility and about taking away that control from head office. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. I really want to be in front of those customers! Don has over 40 years experience in the freight industry, including 26 with Mainfreight. How are we changing the business accordingly? 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. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. Email. Don Braid's Phone Number and Email Last Update. 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. 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. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. 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. I learned that early in the piece and I think its stood me in good stead. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? See ourstandard terms and conditionsfor more information. Youve got to have good outlets. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. We offer lots of training as well, internally and externally. Sam Knowles Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. It has been listed on the New Zealand Exchange since 1996. 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. The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. Your email address will not be published. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. At the end of the day, the decisions they made will be seen in the weekly results. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. The CEO of Mainfreight Limited (NZSE:MFT) is Don Braid, and this article examines the executive's compensation against the backdrop of overall company performance. The firm has earned a reputation within the market for being slickly-run. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. And if you dont make a profit, theres no bonus that year. d***@mainfreight.com. I'm pleased I didn't do anything else.". 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. 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. 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. This endeavor launched the first permanent investment into South America. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. His intellect and pragmatic approach is highly regarded at the Board table. Previously, Don was a Political Columnist at Calgary Herald. 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.
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