We use functional and analytical cookies on our website to offer an optimal user experience. Will be fundamentally different from the last one. Early on, New Zealand had great lessons to take to the rest of our network. Mainfreight people, he says, don't "live in question marks". Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. Zac: Lets talk more about those weekly P&Ls. Were thinking about being around for a hundred years. 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. Media enquiries 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. Don Braid's Phone Number and Email Last Update. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Simply Wall St has no position in any stocks mentioned.Have feedback on this article?
Mainfreight Half Year Financial Results 30 September 2021 - NZX Don Braid. 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.
Mainfreight declares flat dividend, hands back $11m wage subsidy BusinessDesk has a paywall for most of its content. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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 from Mainfreight talks to Fisher Funds. 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. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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
Business Leader of the Year 2011 Winner: Don Braid - NZ Herald What we put in place here in New Zealand became the blueprint for the organization around the world. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Chosen from New Zealand's top companies, this year's Deloitte . How do I gain more customers?
Director Profiles | New Zealand - Mainfreight Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously.
What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Zac: Don, your 100-year vision how does that work? 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? Email. 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. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. 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. 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. "There's no bureaucracy or hierarchy or superiority in the business. 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. Zac: How do you prioritise where to spend your time in a normal week? We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Mainfreight's net profit rose by $40.1m to $188.1m. Photo / Supplied . Hamish. They know that now and can alter those decisions as they head into the week in front of them. You can be profitable and not collect the cash and go broke. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. That's just a smallish increase of 6.9% on last year. Don Braid 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. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Weve made this article available for free. You may withdraw your consent at any time. The long-term effects must be carefully studied. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. "You need some energy and you need to be on the front foot," he says. Insurers support an immediate managed retreat for recent flood victims. Rob Fyfe I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. Don: Well, the numbers never lie, right? Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. His company has been a shining example of success amid tough global economic conditions. 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. Today he chairs a group of telecommunication companies. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? 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. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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.
Director Profiles - Mainfreight 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]. Look after your people and theyll look after the business. 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. 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. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. enter your email and well send you details. 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. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. "If you allow the recession to roll over the top of you there's a great chance it will.". In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. 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. What do those customers look for from us? "I just think that's disgusting," he says. Some people dont want any more responsibility they find their own ceiling and thats fine. 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. 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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. Who wouldnt want exposure to the retirement sector? Of course, you might find a fantastic investment by looking at a different set of stocks. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Watson said she did not believe bonuses were a way. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. So it looks like Mainfreight compensates Don Braid in line with the median for the industry.
"Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Click on [Agree] or [Disagree] to accept or refuse cookies. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. 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. 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. In 2008, the United States locations were re-branded as Mainfreight USA. See ourstandard terms and conditionsfor more information. So everything that we do is about being here for a long time. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation.
I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Alternatively, email editorial-team@simplywallst.com. [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. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. And what do you believe leaders need to excel at? To join your company account for BusinessDesk and enjoy full access, For more information, please visit our cookie statement. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Hi Tanya. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. 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. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. [4] This operation was expanded with depots in Melbourne and Brisbane. If were going to build facilities for our people, we build very good facilities to be around for a long time. Well in Europe they had these time clocks. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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. If you trust your people, look after them and give them responsibility, theyll deliver. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. How are we changing the business accordingly? Appointment to Board 2000 - With Mainfreight since 1994. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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. Theres no cross subsidies. [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. Don: I get out of the way. To trust your people too, to give them the responsibility. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. While there was someone in the drivers seat, the computer took over the vehicle. Id also be really focused on being in touch with customers. 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.