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What do those customers look for from us? Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. [4] This operation was expanded with depots in Melbourne and Brisbane. 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. So take a peek at this free list of interesting companies. Zac: Don, what makes you good? Don: Um, I think its recognising good people. 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. Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. Chief executive, Air New Zealand DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. 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. Mainfreight's net profit rose by $40.1m to $188.1m. 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. I really want to be in front of those customers! He is an outstandingly consistent and capable chief executive. 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. 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? Boards have a key role to play in the wake of any crisis. 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. 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. But the excitement is justified. "I probably wasn't qualified enough to go to university," Braid says. What we put in place here in New Zealand became the blueprint for the organization around the world. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Its having empathy and I think Im patient, determined, have belief and energy. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Early on, New Zealand had great lessons to take to the rest of our network. Zac: Don, your 100-year vision how does that work? Group Managing Director at Mainfreight NZ . 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. 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. 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. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. It is totally how I believe a company should be and I love how everyone starts at the bottom. enter your email and well send you details. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. JUDGES COMMENTS More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. So we are developing our people to be the best they possibly can be. Your email address will not be published. He's got plenty of charm if he wants to have it and his leadership skills just stand out - people want to stand next to him.". 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: 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . CEO compensation can have a massive impact on performance, but it's just one element. 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. Chosen from New Zealand's top companies, this year's Deloitte . Nothing drives home the state of our roads like a trip on a bike. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Group Managing Director, Mainfreight. His intellect and pragmatic approach is highly regarded at the Board table. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? That's ambitious, even . Mainfreight's straight-talking group managing director has an infectious zest for business. Musk Made a Mess at Twitter. 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. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. So a lot is about the long game. We use functional and analytical cookies on our website to offer an optimal user experience. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. This article by Simply Wall St is general in nature. 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 Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. 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. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. 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. 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. "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.". Where do we need to be? "I just think that's disgusting," he says. 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. What are their requirements? New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. I dont believe that. I learned that early in the piece and I think its stood me in good stead. Read More . Other Current Directorships: 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. Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. FINALIST The price of the rights fell as low as 7.5 cents on the last day of trading. Rob Fyfe Check out our latest analysis for Mainfreight. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. "He's sporting and tough and makes decisions quite fast," Plested says. Insurers support an immediate managed retreat for recent flood victims. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Who wouldnt want exposure to the retirement sector? I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. 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. 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. Mainfreight managing director Don Braid. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Richard Prebble is by profession a lawyer. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Don: I get out of the way. 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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. 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. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Braid consistently delivers for shareholders and stakeholders alike. Zac: Don, having a decentralized business, whats been your approach to leadership? Wed rather own assets than lease them. Appointment to Board 2000 - With Mainfreight since 1994. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. "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. Thanks Mr Braid for sharing your knowledge and insight. They know that now and can alter those decisions as they head into the week in front of them. 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.