don braid mainfreight net worth don braid mainfreight net worth

"He implements things very well and you don't have to remind him about anything you're trying to achieve. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Mainfreight people, he says, don't "live in question marks". Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Some people dont want any more responsibility they find their own ceiling and thats fine. Where do we need to be? "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". BusinessDesk has a paywall for most of its content. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Don: Its been interesting! Whats changed? 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. Its the individuals responsibility to arrive on time and stay until the jobs finished. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. I think our owner drivers are a key component of the relationship with the customer. Hamish. At the end of the day, the decisions they made will be seen in the weekly results. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Your email address will not be published. d***@mainfreight.com. 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. Well in Europe they had these time clocks. 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 just have a belief and determination that weve got a pretty good business here. Copyright 2023 Institute of Directors He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. | What are the things you do that maybe others dont do that actually make you lead this organization? Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. 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. 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. Get in touch with us directly. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Some of the leading players in the listed retirement sector have been raising capital. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. 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. Where should we open next? 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. 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. It has been listed on the New Zealand Exchange since 1996. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. He owns a 3 per cent stake in the firm, worth about $29 million. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Its having empathy and I think Im patient, determined, have belief and energy. 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 was uppermost in our mind. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. So what you produce in terms of profitability is real. 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. Mainfreight shareholders would be similarly pleased. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Chief executive, Mainfreight 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. In light of current trends, we will provide a nine-month trading update mid-February 2022. "I don't think any of those things are really of interest to this," he says. 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 Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. 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. How does that actually work, practically? Hes the right man for the job at just the right time. 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. CEO compensation can have a massive impact on performance, but it's just one element. 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. 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. Read More . 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. He is an outstandingly consistent and capable chief executive. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. 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. What else do we need to do to satisfy that bunch of customers? 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. The relationships we develop, both with suppliers and with customers, are there for the long term. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Privacy policy That's ambitious, even . Out of that, I think weve got the culture really starting to develop. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. Don Braid (Mainfreight) Credit: Mainfreight . Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . 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. 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. He knows where the company is going and, more importantly, how it will get there. What we put in place here in New Zealand became the blueprint for the organization around the world. Us taking away that clock was about responsibility and about taking away that control from head office. What are their requirements? Richard Prebble is by profession a lawyer. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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 now has 22 company depots in Australia and relies on agents and third parties in the Northern Territory, Tasmania and some of regional Australia. Don: The recruitment of our people sits with the branch managers. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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". Hi Tanya. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. Chief executive, Kiwibank 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. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Biography His company has been a shining example of success amid tough global economic conditions. And then its about exploring the long game. 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). Wed rather own assets than lease them. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Its a huge level of success and theres satisfaction you get from that. JUDGES COMMENTS Group Managing Director, Mainfreight. 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. 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. 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. By using this website you consent to the use of cookies in accordance with our privacy policy. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? 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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Both are real legends and seem to really walk the talk. 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. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. The company is growing EPS and total shareholder returns have been pleasing. You know, people arrive when they arrive and they leave when they leave. Mainfreight's net profit rose by $40.1m to $188.1m. 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. Nothing drives home the state of our roads like a trip on a bike. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. To join your company account for BusinessDesk and enjoy full access, "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Who wouldnt want exposure to the retirement sector? 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. Brent is a senior reporter based in Queenstown. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Don from Mainfreight talks to Fisher Funds. We're trying to break all that down.". 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. Shareholders would be glad to know that the company has improved itself over the last few years. Theres no bullshit in the numbers, they are what the business has earned. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Rob Fyfe 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. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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? At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Previously, Don was a Political Columnist at Calgary Herald. Don Braid. 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. Don: Um, I think its recognising good people. What havent we got right? Don Braid. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Concerned about the content? 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. 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. The Mainfreight board is intent on doubling revenue to $2 billion by 2015, mostly from international earnings, and Mr Braid envisages at least 500 branches before too long. Chosen from New Zealand's top companies, this year's Deloitte . [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. So long term, we have a really experienced leadership team. And I think ultimately, yes, Im responsible for the business, but I enjoy what I do and having great people and a good lifestyle where I can stay fit and have some fun means the stress levels arent that high. 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. 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. Don Braid Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. 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. Photo / Supplied . That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. So everything that we do is about being here for a long time. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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. Subscribe to protect quality NZ journalism. Don: I think empathy is really important. Youve got to break it down. Don: For us, its not about the short game, its about the long game. In 2008, the United States locations were re-branded as Mainfreight USA. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. He has an enviable track record of integrity and professionalism and wide ranging business experience. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Alternatively, email editorial-team@simplywallst.com. Weve got examples of that in our business right now. I dont believe that. Boards have a key role to play in the wake of any crisis. | Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. A table of ten booking is available for $1000.00, subject to availability at the time of booking. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. Wishing you the best in England and when you return to NZ. I dont see this as a job, so therefore the stress levels arent as strong. Agreement with print tech giant Canon saves college thousands. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. [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.