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They love this as it makes them feel supported and that I understand their role. Mainfreight managing director Don Braid. Appointment to Board 2000 - With Mainfreight since 1994. FINALIST Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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. Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. You cant see yourself as an employer of 8500 people. [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. 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. Who wouldnt want exposure to the retirement sector? Is our service or a product still current? Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. Don Braid. Zac: Lets talk more about those weekly P&Ls. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo It only represents a small part of our revenue, but . 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. Im not sure well see driverless trucks in NZ for some time to come. Click on [Agree] or [Disagree] to accept or refuse cookies. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. For me its being in the business, with people and in particular with customers. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. [4] This operation was expanded with depots in Melbourne and Brisbane. 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. Look after your people and theyll look after the business. 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. 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. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Will His AI Plans Be Any Different? [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Media enquiries Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Q&A with Mainfreight's Don Braid - Business Changing "We've been in China for 20 years. Watson said she did not believe bonuses were a way. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Musk Made a Mess at Twitter. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. "You need some energy and you need to be on the front foot," he says. Email. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. BusinessDesk has a paywall for most of its content. In the decade Braid has spent at its helm, the company has become a global logistics player with operations on every populated continent apart from Africa. 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. Its the individuals responsibility to arrive on time and stay until the jobs finished. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. [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. Get in touch with us directly. | The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid This endeavor launched the first permanent investment into South America. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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". 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. 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. 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). 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. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. Zac: What is the Mainfreight way when it comes to culture? Don: I think empathy is really important. I suppose were grooming people all the time for those loaded leadership roles. Weve got examples of that in our business right now. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. See ourstandard terms and conditionsfor more information. If were going to build facilities for our people, we build very good facilities to be around for a long time. Don: Um, I think its recognising good people. 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. His intellect and pragmatic approach is highly regarded at the Board table. 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. We use functional and analytical cookies on our website to offer an optimal user experience. He is 100 percent dedicated to Mainfreight and its future and has led the company in consolidating its position as an international business, progress which will bring rewards not only for that company but for New Zealand as it continues to expand offshore. Hi Tanya. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. 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. To join your company account for BusinessDesk and enjoy full access, In light of current trends, we will provide a nine-month trading update mid-February 2022. 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 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. To trust your people too, to give them the responsibility. 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. 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 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. Your email address will not be published. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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. "He's sporting and tough and makes decisions quite fast," Plested says. Mainfreight half year net profit lifts 79 per cent despite supply chain Don: I think its quite a long way off. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Don: Well, the numbers never lie, right? He owns a 3 per cent stake in the firm, worth about $29 million. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Everyone stands on their own two feet. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Mainfreight boss: China 'understands our value' - NZ Herald Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Copyright 2023 Institute of Directors 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 New Zealand and internationally. It has been listed on the New Zealand Exchange since 1996. 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. 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. I learned that early in the piece and I think its stood me in good stead. Director Profiles - Mainfreight 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. 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.". How do you measure this? 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. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Well in Europe they had these time clocks. Don: It should be where your skills are. That was uppermost in our mind. As a young salesperson aged 19, I couldnt make a cold call. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Mainfreight Half Year Financial Results 30 September 2021 - NZX 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]. 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. Mainfreight declares flat dividend, hands back $11m wage subsidy 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). It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Youve got to have good outlets. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. It is totally how I believe a company should be and I love how everyone starts at the bottom. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. He brings strong financial skills and business acumen to the role. Don: Im not sure its stress. 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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. JUDGES COMMENTS Do also serves as a member of the Board of the Starship foundation. 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. [3] [4] When the company was founded it entered a highly regulated transport market. What have we got right? 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. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. So everything that we do is about being here for a long time. Deloitte Top 200 Award Winners Announced for 2019 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. Engage via Email. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Subscribe, 0.1 The Four Pillars of Governance Best Practice, 0.3 Corporate governance landscape in New Zealand, The second pillar - An effective governance culture, 2.3 Board architecture a charter for the board, 2.4 Board composition and succession planning, 2.5 Key competencies for non-executive directors, 3.6 Technology and information governance, 3.11 Employees holding external directorships, 4.4 Director shareholdings and insider trading, 4.16 The company secretary or corporate officer, Breakfast with Don Braid, Managing Director of Mainfreight Ltd. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. 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. I dont believe that. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. The company is growing EPS and total shareholder returns have been pleasing. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. While there was someone in the drivers seat, the computer took over the vehicle. 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. Learn more. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. How do I gain more customers? In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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. Richard Prebble is by profession a lawyer. 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. 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. 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. You know, people arrive when they arrive and they leave when they leave. His company has been a shining example of success amid tough global economic conditions. Concerned about the content? 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. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. Photo / Supplied . Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Don: The culture is really important and our culture starts with those closest to the customer. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. What more could I be doing in the business to actually grow my revenues in these difficult times? Both are real legends and seem to really walk the talk. 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. Were thinking about being around for a hundred years. Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. Alternatively, email editorial-team@simplywallst.com. Other Current Directorships: Zac: Don, having a decentralized business, whats been your approach to leadership? Will be fundamentally different from the last one. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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.