It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Mainfreight - Wikipedia So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. CEO compensation can have a massive impact on performance, but it's just one element. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. And thats why we travel a lot when you visit, you can smell the morale in an instant. And what do you believe leaders need to excel at? Mainfreight people, he says, don't "live in question marks". Director Profiles | New Zealand - Mainfreight As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. You cant see yourself as an employer of 8500 people. 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. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz See the full transcript below. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. He has an enviable track record of integrity and professionalism and wide ranging business experience. Its revenue is up 5.9% over the last year. 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. 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. Mainfreight half year net profit lifts 79 per cent despite supply chain That was uppermost in our mind. 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. 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 worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. If you trust your people, look after them and give them responsibility, theyll deliver. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. I think our owner drivers are a key component of the relationship with the customer. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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. Im not sure well see driverless trucks in NZ for some time to come. "He's sporting and tough and makes decisions quite fast," Plested says. I dont believe that. 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]. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. 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. Mainfreight shareholders would be similarly pleased. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. So what you produce in terms of profitability is real. Media enquiries Indonesia ups trade potential with focus on corporate governance, NZ business needs to invest more in reputation, NZ corporates taking a lead in health & safety. 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. Don: Theres been lots of things actually, like electric forklifts, the use of solar power Heres a good example: in New Zealand weve never had time clocks. The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. Don Braid (Mainfreight) Credit: Mainfreight . "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Alternatively, email editorial-team@simplywallst.com. Don: I think its quite a long way off. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . What have we got right? This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. "We've been in China for 20 years. 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. For more information, please visit our cookie statement. You may withdraw your consent at any time. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. This endeavor launched the first permanent investment into South America. 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! So it looks like Mainfreight compensates Don Braid in line with the median for the industry. It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Zac: What is the Mainfreight way when it comes to culture? Its a huge level of success and theres satisfaction you get from that. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. 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. Read More . 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. 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. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Insurers support an immediate managed retreat for recent flood victims. 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. | Youve got to have good outlets. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. Mainfreight's net profit rose by $40.1m to $188.1m. Wed rather own assets than lease them. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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. Mainfreight's $43.9m 'family' bonus | BusinessDesk In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. I suppose were grooming people all the time for those loaded leadership roles. Don: Its been interesting! Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. 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. 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. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. Mainfreight declares flat dividend, hands back $11m wage subsidy If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. Biography Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. 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 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. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". The relationships we develop, both with suppliers and with customers, are there for the long term. Boards have a key role to play in the wake of any crisis. Early on, New Zealand had great lessons to take to the rest of our network. 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. How are we changing the business accordingly? How does that actually work, practically? So a lot is about the long game. Biography 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.. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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 New Zealand and internationally. Mainfreight Half Year Financial Results 30 September 2021 - NZX 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. Zac: Whats a bit of business advice you can share? Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. He is an outstandingly consistent and capable chief executive. Previously, Don was a Political Columnist at Calgary Herald. 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. 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. 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. See guidance for chairs and directors. Youve got to break it down. 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. So everything that we do is about being here for a long time. 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. The company is growing EPS and total shareholder returns have been pleasing. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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. This article by Simply Wall St is general in nature. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. "You need some energy and you need to be on the front foot," he says. 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 managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Deloitte Top 200 Award Winners Announced for 2019 In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Director Profiles - Mainfreight 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. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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 Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. We offer lots of training as well, internally and externally. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Sam Knowles 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. Hamish. Watson said she did not believe bonuses were a way. Don: The recruitment of our people sits with the branch managers. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. And if you dont make a profit, theres no bonus that year. BusinessDesk has a paywall for most of its content. And he should know, having spent his entire working life in the freight industry. It only represents a small part of our revenue, but . We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? 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. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. 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. Learn more. [4] This operation was expanded with depots in Melbourne and Brisbane. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. And thats that. Nothing drives home the state of our roads like a trip on a bike. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. 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. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition.

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