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. But they had different regulations for different countries: it was a metre between the two trucks, it was a metre and half in Belgium, and it was two meters in France. 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. Don Braid (Mainfreight) Credit: Mainfreight . They know that now and can alter those decisions as they head into the week in front of them. I really want to be in front of those customers! 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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 is an outstandingly consistent and capable chief executive. Once it became a global pandemic we needed to react and adapt as quickly as we could. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. 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. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Don: For us, its not about the short game, its about the long game. FINALIST Not bad for a Kiwi trucking company! He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. 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. The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. 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. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Engage via Email. Don: I think empathy is really important. What are the things you do that maybe others dont do that actually make you lead this organization? Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. COVID-19 has had a significant impact on freight and supply chains worldwide. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. 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. 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. 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. Early on, New Zealand had great lessons to take to the rest of our network. Mainfreight managing director Don Braid. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". While there was someone in the drivers seat, the computer took over the vehicle. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. Who wouldnt want exposure to the retirement sector? Brent is a senior reporter based in Queenstown. 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. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Well in Europe they had these time clocks. I learned that early in the piece and I think its stood me in good stead. 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. Youve got to break it down. See the full transcript below. That's just a smallish increase of 6.9% on last year. On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Chief executive, Mainfreight "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. JUDGES COMMENTS Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Sam Knowles He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Check out our latest analysis for Mainfreight. 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). His intellect and pragmatic approach is highly regarded at the Board table. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. The long-term effects must be carefully studied. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Appointment to Board 2000 - With Mainfreight since 1994. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. What we put in place here in New Zealand became the blueprint for the organization around the world. I dont believe that. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Out of that, I think weve got the culture really starting to develop. Don: Its been interesting! Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX.
Mainfreight - Wikipedia 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. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. It only represents a small part of our revenue, but . 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. Zac: Can you share more about your profit share? And if you dont make a profit, theres no bonus that year. Zac: Don, what makes you good? PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. "You need some energy and you need to be on the front foot," he says.
What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? That was uppermost in our mind. 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. "That gives us an enormous amount of opportunity.". He owns a 3 per cent stake in the firm, worth about $29 million.
Lessons from the Managing Director of one of NZ's most successful Experts say community investment is the future. How Does Don Braid's Compensation Compare With Similar Sized Companies? It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. [3] [4] When the company was founded it entered a highly regulated transport market. At the end of the day, the decisions they made will be seen in the weekly results. And what do you believe leaders need to excel at? 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. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our 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. 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. "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.". 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. Mainfreight's straight-talking group managing director has an infectious zest for business. 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. Its an intimate touch with the P&L; the weeklies tell us lot. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. 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. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? If you trust your people, look after them and give them responsibility, theyll deliver.
Don Braid - newzealandinc.com Zac: How do you prioritise where to spend your time in a normal week? "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. What do those customers look for from us? Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. What else do we need to do to satisfy that bunch of customers? 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border.
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. 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. What more could I be doing in the business to actually grow my revenues in these difficult times? 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. 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. He attributed the. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. Don: Im not sure its stress. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. 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. Don: I get out of the way. 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. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. 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). I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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. Don Braid. Boards have a key role to play in the wake of any crisis. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. To join your company account for BusinessDesk and enjoy full access, "He implements things very well and you don't have to remind him about anything you're trying to achieve. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next 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.
Top 200 : Deloitte/Management magazine Executive of the Year Don Braid In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Group Managing Director, Mainfreight.
Mainfreight boss: China 'understands our value' - NZ Herald See guidance for chairs and directors. 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. Wed rather own assets than lease them. Agreement with print tech giant Canon saves college thousands. 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. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. We use functional and analytical cookies on our website to offer an optimal user experience. How does that actually work, practically? 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.
Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". In 2008, the United States locations were re-branded as Mainfreight USA. People thrive on being given responsibility. Thanks Mr Braid for sharing your knowledge and insight. 2023: A year of trepidation unless you take control, Talking to 2022 Westpac Supreme Business Winner, Juliette Hogan, How Fix & Fogg are winning the hearts of Americans. He 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.
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. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Don: Well, the numbers never lie, right? Media enquiries 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. Shareholders would be glad to know that the company has improved itself over the last few years. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. So I think cashflow is king and Id be focused on that. He knows where the company is going and, more importantly, how it will get there. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Biography Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. Don Braid. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. The Asian business saw profits more than double to US$7m, driven by increases in market share and rate increases from both air and see freight, the firm said. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Don Braid.
Mainfreight Half Year Financial Results 30 September 2021 - NZX [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. [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. | His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . "He's sporting and tough and makes decisions quite fast," Plested says. 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. 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". Don: It should be where your skills are. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. As you get bigger, staff engagement and culture becomes more difficult. His father was a truck driver, but he says that didn't influence his career decisions. If were going to build facilities for our people, we build very good facilities to be around for a long time.
Im not sure well see driverless trucks in NZ for some time to come. So everything that we do is about being here for a long time. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Mainfreight's net profit rose by $40.1m to $188.1m. Don Braid's Phone Number and Email Last Update. Chief executive, Kiwibank In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. Your email address will not be published. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Will be fundamentally different from the last one. 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. 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.