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Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. And thats that. Don: Well, the numbers never lie, right? 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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. That's ambitious, even . Some of the leading players in the listed retirement sector have been raising capital. Read More . CEO compensation can have a massive impact on performance, but it's just one element. 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. 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. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. 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. 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. Its revenue is up 5.9% over the last year. Don: I think empathy is really important. "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.". Weve got examples of that in our business right now. JUDGES COMMENTS Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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). Thanks for your comments about Don Braid and Mainfreight. 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. 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. 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. Look after your people and theyll look after the business. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. 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. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Of course, you might find a fantastic investment by looking at a different set of stocks. "He never moans about the currency and is always positive.". Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Your email address will not be published. And if you dont make a profit, theres no bonus that year. By the way, its not just about us seeing those numbers. Check out our latest analysis for Mainfreight. Other Current Directorships: [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. 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. [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. 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. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Don: Um, I think its recognising good people. 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. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. So take a peek at this free list of interesting companies. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. The price of the rights fell as low as 7.5 cents on the last day of trading. 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". 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. 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. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Engage via Email. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. See guidance for chairs and directors. WINNER We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. What are their requirements? Should it change? Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Zac: Don, what makes you good? Don: I think its quite a long way off. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. Previously, Don was a Political Columnist at Calgary Herald. Don: It should be where your skills are. 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. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. 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 His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Sam Knowles Watson said she did not believe bonuses were a way. 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. "You need some energy and you need to be on the front foot," he says. 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. 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. 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. So what you produce in terms of profitability is real. His intellect and pragmatic approach is highly regarded at the Board table. Whats changed? While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. 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. 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. As you get bigger, staff engagement and culture becomes more difficult. "I probably wasn't qualified enough to go to university," Braid says. 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. I just have a belief and determination that weve got a pretty good business here. Don Braid If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Weve made this article available for free. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. 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. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Rob Fyfe He attributed the. 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. You can follow him on Twitter, New tourism plan sidesteps immigration elephant, Mortgage arrears up as rates start to bite, Investors queue up ahead of Du Val liquidity events, Affordable housing levy sparks fear and loathing in Queenstown. Mainfreight people, he says, don't "live in question marks". If you trust your people, look after them and give them responsibility, theyll deliver. Its the individuals responsibility to arrive on time and stay until the jobs finished. 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. 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. 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. "It's not about what I've done - it's about what we've done and what the business has done," he says. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. 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. 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. enter your email and well send you details. Its an intimate touch with the P&L; the weeklies tell us lot. [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. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. But the excitement is justified. The key for me is to be in the business as much as possible, to be visible. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. They know that now and can alter those decisions as they head into the week in front of them. You may withdraw your consent at any time. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. 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 firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. 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. National's three waters policy is only cosmetically distinct from Labour's. Brent is a senior reporter based in Queenstown. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. 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). Shareholders would be glad to know that the company has improved itself over the last few years. 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]. 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. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. By using this website you consent to the use of cookies in accordance with our privacy policy. For me its being in the business, with people and in particular with customers. "He implements things very well and you don't have to remind him about anything you're trying to achieve. And then its about exploring the long game. I learned that early in the piece and I think its stood me in good stead. What havent we got right? Not living as a question mark but instead getting on with it and making those decisions. How does that actually work, practically? Chosen from New Zealand's top companies, this year's Deloitte . We aim to bring you long-term focused analysis driven by fundamental data. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Once it became a global pandemic we needed to react and adapt as quickly as we could. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Don: The culture is really important and our culture starts with those closest to the customer. 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 Braid. How are we changing the business accordingly? He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. For more information, please visit our cookie statement. 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. Terms of use Both are real legends and seem to really walk the talk. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. The long-term effects must be carefully studied. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies.