In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. 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. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. So each person can earn some more money by not just making profit, but keeping customers happy, keeping claims to a lower amount, making sure were collecting cash, making sure that were delivering freight in full and on time but the base bonus, everybody gets the same amount no matter whether youve been there for one year or for 40 years and no matter what your position is. | Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. Early on, New Zealand had great lessons to take to the rest of our network. 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. 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. If were going to build facilities for our people, we build very good facilities to be around for a long time. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. As a young salesperson aged 19, I couldnt make a cold call. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Don Braid. Chief executive, Air New Zealand Read More . Don: It should be where your skills are. Nothing drives home the state of our roads like a trip on a bike. FINALIST The company is growing EPS and total shareholder returns have been pleasing. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. 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. Save my name, email, and website in this browser for the next time I comment. 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. The Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. 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. 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. They know that now and can alter those decisions as they head into the week in front of them. "I just think that's disgusting," he says. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Musk Made a Mess at Twitter. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Its great fun. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. See the full transcript below. Our subscriptions start at $24 / month for individuals. 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. And I think ultimately, yes, Im responsible for the business, but I enjoy what I do and having great people and a good lifestyle where I can stay fit and have some fun means the stress levels arent that high. Terms of use "I don't think any of those things are really of interest to this," he says. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. You cant see yourself as an employer of 8500 people. "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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. In 2008, the United States locations were re-branded as Mainfreight USA. 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. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Appointment to Board 2000 - With Mainfreight since 1994. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. Please note that with cookies disabled you will have a degraded experience with some features. Photo / Supplied . 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. Don: Im not sure its stress. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Mainfreight half year net profit lifts 79 per cent despite supply chain At the end of the day, the decisions they made will be seen in the weekly results. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. 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. Watson said she did not believe bonuses were a way. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. So a lot is about the long game. Regionally, the NZ business saw an increase of 11.5% in profit before tax to $97.8m, though supply chain capacity into and from NZ remains congested, and the company is frustrated with international shipping lines". 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. Experts say community investment is the future. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". "He never talks about himself and always talks about long-term goals," Hunt says. Don Braid. So the weekly P&L puts them on the spot. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. What more could I be doing in the business to actually grow my revenues in these difficult times? "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". "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.". Despite international growth and success, Braid is passionate about keeping the company proudly Kiwi-owned and has been an outspoken voice on local transport and infrastructure matters. Zac: Don, your 100-year vision how does that work? In light of current trends, we will provide a nine-month trading update mid-February 2022. To trust your people too, to give them the responsibility. 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. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . The firm has earned a reputation within the market for being slickly-run. Email. 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Don: Um, I think its recognising good people. A table of ten booking is available for $1000.00, subject to availability at the time of booking. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Q&A with Mainfreight's Don Braid - Business Changing 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]. 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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. Its an intimate touch with the P&L; the weeklies tell us lot. But, he said, the groups response at the outset of the pandemic had been unequivocal. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. He owns a 3 per cent stake in the firm, worth about $29 million. National's three waters policy is only cosmetically distinct from Labour's. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. WINNER To join your company account for BusinessDesk and enjoy full access, I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. FINALIST 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Media enquiries He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. 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. Mainfreight completes huge software roll-out, spanning A/NZ, US and But the excitement is justified. 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. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. So everything that we do is about being here for a long time. And what do you believe leaders need to excel at? [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. "You need some energy and you need to be on the front foot," he says. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. I'm pleased I didn't do anything else.". What else do we need to do to satisfy that bunch of customers? In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Mainfreight's net profit rose by $40.1m to $188.1m. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. We aim to bring you long-term focused analysis driven by fundamental data. 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]. 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. Don Braid. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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.. How do you maintain a positive culture and a time of crisis? 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. BusinessDesk has a paywall for most of its content. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Don: With this event in front of us right now, I think cash is king, and the collection of cash. He attributed the. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Braid consistently delivers for shareholders and stakeholders alike. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. I just have a belief and determination that weve got a pretty good business here. Hamish. Weve got examples of that in our business right now. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Youve got to have good outlets. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. | Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. BRAID, Don - NBR | The Authority since 1970 It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. If you trust your people, look after them and give them responsibility, theyll deliver. 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. That was uppermost in our mind. Cash flow is essential for any business survival. His father was a truck driver, but he says that didn't influence his career decisions. Today he chairs a group of telecommunication companies. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Director Profiles - Mainfreight 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. [3][4], When the company was founded it entered a highly regulated transport market. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Who wouldnt want exposure to the retirement sector? 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. Its having empathy and I think Im patient, determined, have belief and energy.
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