A licence from New Zealand Railways Corporation was needed to carry freight over 150km. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. 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. We aim to bring you long-term focused analysis driven by fundamental data. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. 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. Thanks Mr Braid for sharing your knowledge and insight. Privacy policy Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. 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. What havent we got right? Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. Some people dont want any more responsibility they find their own ceiling and thats fine. The Biosecurity Business Pledge group has launched two new biosecurity guides. We dont call them staff for us, they are our people or our team. Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney. What have we got right? Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 43 years experience in freight forwarding and logistics both NewZealand and internationally. It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, 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. But, he said, the groups response at the outset of the pandemic had been unequivocal. Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. So I think cashflow is king and Id be focused on that. 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. 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. Don: Im not sure its stress. Boards have a key role to play in the wake of any crisis.
The long-term effects must be carefully studied. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. Don: Well, the numbers never lie, right? Your email address will not be published. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. National's three waters policy is only cosmetically distinct from Labour's. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. Don: For us, its not about the short game, its about the long game. 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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. See guidance for chairs and directors. 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.
Director Profiles | New Zealand - Mainfreight On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. Youve got to have good outlets. Mainfreight's net profit rose by $40.1m to $188.1m. 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. Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. 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. | We use functional and analytical cookies on our website to offer an optimal user experience. And thats why we travel a lot when you visit, you can smell the morale in an instant. Early on, New Zealand had great lessons to take to the rest of our network. What else do we need to do to satisfy that bunch of customers?
Mainfreight half year net profit lifts 79 per cent despite supply chain 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). Photo / Supplied . Educated at Timaru Boys High School, Braid has been described as possibly the most self-effacing leader of major listed company in New Zealand and is widely regarded as straight-talking and strong leader. Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. Component 2020 Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners.
Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo 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. Zac: Don, your 100-year vision how does that work? 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. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours.
Mainfreight founder says bonuses help solve inequality and - Stuff 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. 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. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. In 2008, the United States locations were re-branded as Mainfreight USA. It only represents a small part of our revenue, but . How are we changing the business accordingly?
Don Braid - newzealandinc.com 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. Its a huge level of success and theres satisfaction you get from that. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Group Managing Director, Mainfreight. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. 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). 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. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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 really want to be in front of those customers! Not living as a question mark but instead getting on with it and making those decisions. Don: The recruitment of our people sits with the branch managers. Out of that, I think weve got the culture really starting to develop. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control.
'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Mainfreight's straight-talking group managing director has an infectious zest for business. Us taking away that clock was about responsibility and about taking away that control from head office. 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. Some of the leading players in the listed retirement sector have been raising capital. Youve got to break it down. He has an enviable track record of integrity and professionalism and wide ranging business experience.
Zac: Can you share more about your profit share? 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. 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. So we are developing our people to be the best they possibly can be.
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. Don Braid's Phone Number and Email Last Update. At the end of the day, the decisions they made will be seen in the weekly results. Sam Knowles Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. 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. 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. 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. And what do you believe leaders need to excel at? But the excitement is justified. 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.
Mainfreight completes huge software roll-out, spanning A/NZ, US and It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. 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. And then its about exploring the long game. 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. For me its being in the business, with people and in particular with customers. Zac: What is the Mainfreight way when it comes to culture? Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Biography You need to have been there 12 months to earn the full bonus that everybody else gets. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 30 years experience in freight forwarding and logistics both New Zealand and internationally. The relationships we develop, both with suppliers and with customers, are there for the long term. Zac: Lets talk more about those weekly P&Ls. His intellect and pragmatic approach is highly regarded at the Board table. Id also be really focused on being in touch with customers. Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. 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. People thrive on being given responsibility. Theres no cross subsidies. [14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. You may withdraw your consent at any time. I learned that early in the piece and I think its stood me in good stead. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. 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. 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. Its an intimate touch with the P&L; the weeklies tell us lot. Click on [Agree] or [Disagree] to accept or refuse cookies. JUDGES COMMENTS Nothing drives home the state of our roads like a trip on a bike. So everything that we do is about being here for a long time. That's ambitious, even .
Business Leader of the Year 2011 Winner: Don Braid - NZ Herald Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. "I just think that's disgusting," he says. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits.
How To Prevent Wandering Baseline,
Articles D