Get in touch with us directly. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. [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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. So the weekly P&L puts them on the spot. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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 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). 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. To trust your people too, to give them the responsibility. That's just a smallish increase of 6.9% on last year. 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. "He's sporting and tough and makes decisions quite fast," Plested says. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. How do you measure this? It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. 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. If were going to build facilities for our people, we build very good facilities to be around for a long time. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". "He never moans about the currency and is always positive.". His father was a truck driver, but he says that didn't influence his career decisions. 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 natural protection for earnings. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. If theyre not on their game, you can see that really quickly so you either get alongside them and help them or if it goes on for too long you realise weve got the wrong person in the wrong role and weve got to change them. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. He knows where the company is going and, more importantly, how it will get there. 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. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. [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. 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. What are the things you do that maybe others dont do that actually make you lead this organization? It has been listed on the New Zealand Exchange since 1996. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. 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. Don: With this event in front of us right now, I think cash is king, and the collection of cash. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Another attribute is straight talking. Formerly Halford Young, Halford is a private logistics company and freight forwarder with operations and networks in Australia and New Zealand, Japan, Germany, throughout Asia and the United States.[6]. He has an enviable track record of integrity and professionalism and wide ranging business experience. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. What are their requirements? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . So take a peek at this free list of interesting companies. Insurers support an immediate managed retreat for recent flood victims. 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. I dont believe that. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. "There's no bureaucracy or hierarchy or superiority in the business. In 2008, the United States locations were re-branded as Mainfreight USA. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. And thats why we travel a lot when you visit, you can smell the morale in an instant. 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. 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. 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. 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. I could not get out of the car and go and meet a stranger to ask for the business and now I actually prefer to do that! He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Privacy policy Well in Europe they had these time clocks. 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. The relationships we develop, both with suppliers and with customers, are there for the long term. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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. 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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. Chief executive, Air New Zealand How do I gain more customers? Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Is our service or a product still current? 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. Nothing drives home the state of our roads like a trip on a bike. 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. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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. 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. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. d***@mainfreight.com. Don: The recruitment of our people sits with the branch managers. By using this website you consent to the use of cookies in accordance with our privacy policy. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Your email address will not be published. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Engage via Email. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Today he chairs a group of telecommunication companies. 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. Hes the right man for the job at just the right time. Click on [Agree] or [Disagree] to accept or refuse cookies. The firm has earned a reputation within the market for being slickly-run. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. 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. Not bad for a Kiwi trucking company! FINALIST Appointment to Board 2000 - With Mainfreight since 1994. 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. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Youve got to think about that as small groups of people looking after our customers and each group is important in their own right and theyll have their own little traits. Component 2020 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. Chief executive, Mainfreight Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Youve got to have good outlets. 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. People thrive on being given responsibility. So a lot is about the long game. 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO.
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