"I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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. "I probably wasn't qualified enough to go to university," Braid says. 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. The relationships we develop, both with suppliers and with customers, are there for the long term. 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. Im not sure well see driverless trucks in NZ for some time to come. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Don: With this event in front of us right now, I think cash is king, and the collection of cash. This endeavor launched the first permanent investment into South America. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. | [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. 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. 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. Early on, New Zealand had great lessons to take to the rest of our network. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. How are we changing the business accordingly? 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. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. What else do we need to do to satisfy that bunch of customers? "It's not about what I've done - it's about what we've done and what the business has done," he says. Should it change? So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. So the idea was to make sure that our people were right, that our systems were ok, what customers could trade, and how we could help those customers as an essential service. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. To join your company account for BusinessDesk and enjoy full access, The long-term effects must be carefully studied. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. [13] The transaction was completed on 6 June 2007. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Don Braid. Component 2020 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. Your email address will not be published. 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. Thanks for your comments about Don Braid and Mainfreight. Is our service or a product still current? What have we got right? 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. 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. Will be fundamentally different from the last one. Other Current Directorships:
I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Email. Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. 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. 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. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. By the way, its not just about us seeing those numbers. Bryan has a wealth of experience, both in executive and board roles. At the end of the day, the decisions they made will be seen in the weekly results. Whats changed? 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. See ourstandard terms and conditionsfor more information. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Zac: Don, having a decentralized business, whats been your approach to leadership? New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . I could not get out of the car and go and meet a stranger to ask for the business and now I actually prefer to do that! And then its about exploring the long game. But, he said, the groups response at the outset of the pandemic had been unequivocal. Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. What are the things you do that maybe others dont do that actually make you lead this organization? "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Where should we open next? 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. 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. In 2008, the United States locations were re-branded as Mainfreight USA. 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. For me its being in the business, with people and in particular with customers. WINNER 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". Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. See guidance for chairs and directors. Nothing drives home the state of our roads like a trip on a bike. How do I gain more customers? Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. BusinessDesk has a paywall for most of its content. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. 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National's three waters policy is only cosmetically distinct from Labour's. Your email address will not be published. Photo / Supplied . He has clear vision of what it will take to navigate the unforgiving roads and heavy traffic of the international freight marketplace and so far he has kept this business right on track. Terms of use 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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. That was uppermost in our mind. [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. Hamish. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. Mainfreight people, he says, don't "live in question marks". 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? Im sure that everyone on this video call will be wanting to shake hands and sit across the table and deal face to face because of the body language thing and being able to ask more questions, whereas the video is quite limiting. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Don: Im not sure its stress. Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. 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. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. What are their requirements? As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. And thats that. Musk Made a Mess at Twitter. 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. 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. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid's more modest 2.79% stake is still worth about $70m - supplemented by annual remuneration of $2.2m in 2017. 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. "He never talks about himself and always talks about long-term goals," Hunt says. If you trust your people, look after them and give them responsibility, theyll deliver. Experts say community investment is the future. The Biosecurity Business Pledge group has launched two new biosecurity guides. Click on [Agree] or [Disagree] to accept or refuse cookies. 11/5/2022 3:33 PM. Mainfreight managing director Don Braid. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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. 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. In 1994 Mainfreight purchased the business, and Don went on to hold various senior management roles at Mainfreight prior to his appointment as Managing Director in 2000. Please note that with cookies disabled you will have a degraded experience with some features. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Brent is a senior reporter based in Queenstown. What we put in place here in New Zealand became the blueprint for the organization around the world. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. I just have a belief and determination that weve got a pretty good business here. 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. Our subscriptions start at $24 / month for individuals. 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. This article by Simply Wall St is general in nature. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. People thrive on being given responsibility. I'm pleased I didn't do anything else.". 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. Mainfreight shareholders would be similarly pleased. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. So I think cashflow is king and Id be focused on that. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Sam Knowles Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. 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. Educated at Timaru Boys High School, Braid has been described as possibly the most self-effacing leader of major listed company in New Zealand and is widely regarded as straight-talking and strong leader.
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