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. You may withdraw your consent at any time. His company has been a shining example of success amid tough global economic conditions. 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. Privacy policy 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. 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. Chief executive, Air New Zealand It only represents a small part of our revenue, but . Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Youve got to think about that as small groups of people looking after our customers and each group is important in their own right and theyll have their own little traits. I just have a belief and determination that weve got a pretty good business here. Don Braid's Phone Number and Email Last Update. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). 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. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Were thinking about being around for a hundred years. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. See ourstandard terms and conditionsfor more information. The Asian business saw profits more than double to US$7m, driven by increases in market share and rate increases from both air and see freight, the firm said. Zac: How do you prioritise where to spend your time in a normal week? Hamish. 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. [3] [4] When the company was founded it entered a highly regulated transport market. "I don't think any of those things are really of interest to this," he says. Don: With this event in front of us right now, I think cash is king, and the collection of cash. The Biosecurity Business Pledge group has launched two new biosecurity guides. At the end of the day, the decisions they made will be seen in the weekly results. Not bad for a Kiwi trucking company! 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. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. Chief executive, Mainfreight 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. "We've been in China for 20 years. 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. 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. JUDGES COMMENTS 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. Today he chairs a group of telecommunication companies. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. Bryan has a wealth of experience, both in executive and board roles. His father was a truck driver, but he says that didn't influence his career decisions. 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. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Biography For more information, please visit our cookie statement. 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 else do we need to do to satisfy that bunch of customers? 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. Alternatively, email editorial-team@simplywallst.com. 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's just a smallish increase of 6.9% on last year. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. The company is growing EPS and total shareholder returns have been pleasing. Zac: Whats a bit of business advice you can share? 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. 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. 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. Rob Fyfe 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. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Engage via Email. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. COVID-19 has had a significant impact on freight and supply chains worldwide. Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. So everything that we do is about being here for a long time. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. 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. 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. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. To trust your people too, to give them the responsibility. Out of that, I think weve got the culture really starting to develop. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Don: Its been interesting! [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. Don Braid. Copyright 2023 Institute of Directors 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? He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. "He's sporting and tough and makes decisions quite fast," Plested says. In 2008, the United States locations were re-branded as Mainfreight USA. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. By the way, its not just about us seeing those numbers. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? Thanks for your comments about Don Braid and Mainfreight. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. It has been listed on the New Zealand Exchange since 1996. Zac: Lets talk more about those weekly P&Ls. What have we got right? 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. "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. We aim to bring you long-term focused analysis driven by fundamental data. Id also be really focused on being in touch with customers. Watson said she did not believe bonuses were a way. 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.. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Don: I think empathy is really important. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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 from Mainfreight talks to Fisher Funds. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. See guidance for chairs and directors. 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Don: Theres been lots of things actually, like electric forklifts, the use of solar power Heres a good example: in New Zealand weve never had time clocks. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. 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 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. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. How does that actually work, practically? His intellect and pragmatic approach is highly regarded at the Board table. But the excitement is justified. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, Londons Investment Appeal Is Unraveling as Arm Heads to the US, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Ex-Goldman Banker Ordered to Forfeit $43.7 Million Over 1MDB Bribery Fraud, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. 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 In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. [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. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. 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. Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). 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. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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.
My Partner Makes Big Decisions Without Me,
Rick Cota Height,
Articles D
