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Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. So I think cashflow is king and Id be focused on that. 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. Alternatively, email [email protected]. "That gives us an enormous amount of opportunity.". That's just a smallish increase of 6.9% on last year. 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. And thats why we travel a lot when you visit, you can smell the morale in an instant. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Of course, you might find a fantastic investment by looking at a different set of stocks. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. Zac: Don, your 100-year vision how does that work? 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. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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. 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. Do also serves as a member of the Board of the Starship foundation. He's got plenty of charm if he wants to have it and his leadership skills just stand out people want to stand next to him, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. "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.". Look after your people and theyll look after the business. 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. Learn more. His father was a truck driver, but he says that didn't influence his career decisions. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. "You need some energy and you need to be on the front foot," he says. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. 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. He attributed the. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Some people dont want any more responsibility they find their own ceiling and thats fine. How do you measure this? By the way, its not just about us seeing those numbers. [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. And he should know, having spent his entire working life in the freight industry. 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. [email protected]; Profile. 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. 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. 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. | Mainfreight Half Year Financial Results 30 September 2021 - NZX How does that actually work, practically? 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. Where do we need to be? Zac: How do you prioritise where to spend your time in a normal week? Once it became a global pandemic we needed to react and adapt as quickly as we could. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. The relationships we develop, both with suppliers and with customers, are there for the long term. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Mainfreight people, he says, don't "live in question marks". So a lot is about the long game. Don: For us, its not about the short game, its about the long game. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo [13] The transaction was completed on 6 June 2007. In 2008, the United States locations were re-branded as Mainfreight USA. Your email address will not be published. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. 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. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. It only represents a small part of our revenue, but . 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. Mainfreight boss: China 'understands our value' - NZ Herald 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. Don: It should be where your skills are. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Us taking away that clock was about responsibility and about taking away that control from head office. Its revenue is up 5.9% over the last year. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. | 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. 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). Where should we open next? "It's not about what I've done - it's about what we've done and what the business has done," he says. COVID-19 has had a significant impact on freight and supply chains worldwide. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. What else do we need to do to satisfy that bunch of customers? So the weekly P&L puts them on the spot. 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. Hi Tanya. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Bryan has a wealth of experience, both in executive and board roles. Don Braid - newzealandinc.com 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. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Please note that with cookies disabled you will have a degraded experience with some features. Mainfreight completes huge software roll-out, spanning A/NZ, US and And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Other Current Directorships: WINNER See guidance for chairs and directors. You need to have been there 12 months to earn the full bonus that everybody else gets. I suppose were grooming people all the time for those loaded leadership roles. Hamish. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email [email protected]. 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. "He never moans about the currency and is always positive.". 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. If you trust your people, look after them and give them responsibility, theyll deliver. For more information, please visit our cookie statement. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. +64 27 403 0148+64 9 905 [email protected], The Auckland Branch acknowledges the generous support of. What are their requirements? 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. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. For me its being in the business, with people and in particular with customers. How do I gain more customers? 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. Check out our latest analysis for Mainfreight. 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. 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. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. Don: I think empathy is really important. Thats the key. 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. Brent is a senior reporter based in Queenstown. We use functional and analytical cookies on our website to offer an optimal user experience. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. [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. Thanks for your comments about Don Braid and Mainfreight. Email. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. I just have a belief and determination that weve got a pretty good business here. Braid consistently delivers for shareholders and stakeholders alike. I dont see this as a job, so therefore the stress levels arent as strong. And if you dont make a profit, theres no bonus that year. 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. 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. As a young salesperson aged 19, I couldnt make a cold call. 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. This article by Simply Wall St is general in nature. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. 11/5/2022 3:33 PM. 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. National's three waters policy is only cosmetically distinct from Labour's. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Early on, New Zealand had great lessons to take to the rest of our network. 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 doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in. 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. 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. Chief executive, Kiwibank He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Q&A with Mainfreight's Don Braid - Business Changing 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. 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. 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. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. It has been listed on the New Zealand Exchange since 1996. 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. Theres no cross subsidies. So weve got eight and a half thousand people and 282 locations. 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. To join your company account for BusinessDesk and enjoy full access, Hes the right man for the job at just the right time. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Its a huge level of success and theres satisfaction you get from that. 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. "I probably wasn't qualified enough to go to university," Braid says. 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. Subscribe to protect quality NZ journalism. Read More . You can be profitable and not collect the cash and go broke. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. The opportunities offshore and the populations that exist in some of those other countries are large; you only have to get something half right in some of those countries and youre growing a big business compared to what you have here in New Zealand. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. Group Managing Director at Mainfreight NZ . The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Don: Its been interesting! His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. Who wouldnt want exposure to the retirement sector? Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck.