It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Well in Europe they had these time clocks. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. Another attribute is straight talking. 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. 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]. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. That was uppermost in our mind. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! 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. 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. We offer lots of training as well, internally and externally. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Subscribe to protect quality NZ journalism. But, he said, the groups response at the outset of the pandemic had been unequivocal. While there was someone in the drivers seat, the computer took over the vehicle. Hi Tanya. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. JUDGES COMMENTS As you get bigger, staff engagement and culture becomes more difficult. 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? 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.. Don Braid. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? You need to have been there 12 months to earn the full bonus that everybody else gets. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. His father was a truck driver, but he says that didn't influence his career decisions. 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. Don: I think its quite a long way off. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. 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. Should it change? 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. Insurers support an immediate managed retreat for recent flood victims. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. The Biosecurity Business Pledge group has launched two new biosecurity guides. Richard Prebble is by profession a lawyer. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Im not sure well see driverless trucks in NZ for some time to come. "It's not about what I've done - it's about what we've done and what the business has done," he says. [4] This operation was expanded with depots in Melbourne and Brisbane. Check out our latest analysis for Mainfreight. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Mainfreight managing director Don Braid. What do those customers look for from us? The relationships we develop, both with suppliers and with customers, are there for the long term. 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. [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. 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. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. They know that now and can alter those decisions as they head into the week in front of them. Don: Um, I think its recognising good people. We aim to bring you long-term focused analysis driven by fundamental data. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Don: The recruitment of our people sits with the branch managers. I just have a belief and determination that weve got a pretty good business here. Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. Watson said she did not believe bonuses were a way. I'm pleased I didn't do anything else.". Sam Knowles Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. He brings strong financial skills and business acumen to the role. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Engage via Email. 11/5/2022 3:33 PM. Some people dont want any more responsibility they find their own ceiling and thats fine. So a lot is about the long game. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. [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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. 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]. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. Those are the real world indicators of whether youve got morale correct or not or whether youve got some issues going on you need to address. 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. 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. The price of the rights fell as low as 7.5 cents on the last day of trading. Other Current Directorships:
Of course, you might find a fantastic investment by looking at a different set of stocks. Wed rather own assets than lease them. By the way, its not just about us seeing those numbers. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. 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. FINALIST "If you allow the recession to roll over the top of you there's a great chance it will.". Don Braid's Phone Number and Email Last Update. 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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Don: The culture is really important and our culture starts with those closest to the customer. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. 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. Please note that with cookies disabled you will have a degraded experience with some features. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. This article by Simply Wall St is general in nature. Don from Mainfreight talks to Fisher Funds. 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 boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. 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. Thanks for your comments about Don Braid and Mainfreight. Where do we need to be? In 2008, the United States locations were re-branded as Mainfreight USA. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. But the excitement is justified. He owns a 3 per cent stake in the firm, worth about $29 million. 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. 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. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. And he should know, having spent his entire working life in the freight industry. Copyright 2023 Institute of Directors [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Chief executive, Air New Zealand 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. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. And if you dont make a profit, theres no bonus that year. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Initially wed take 10% of that profit and share it equally with everybody in the branch but as weve developed and gotten a little more sophisticated, weve applied quality stats to the numbers. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Bryan has a wealth of experience, both in executive and board roles. 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. BusinessDesk has a paywall for most of its content. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. It is totally how I believe a company should be and I love how everyone starts at the bottom. As a young salesperson aged 19, I couldnt make a cold call. Don Braid. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. Will His AI Plans Be Any Different? Where should we open next? Your email address will not be published. Terms of use What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? So it looks like Mainfreight compensates Don Braid in line with the median for the industry. See ourstandard terms and conditionsfor more information. In light of current trends, we will provide a nine-month trading update mid-February 2022. Concerned about the content? Cash flow is essential for any business survival. "He never moans about the currency and is always positive.". 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. 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 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. But well and behold, were in the perfect position not a lot of debt, trading really well, coming off a really good financial year the year before. 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. Nothing drives home the state of our roads like a trip on a bike. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. CEO compensation can have a massive impact on performance, but it's just one element. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. I will definitely be following the Mainfreight progress closely for when I return to NZ. 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. Get in touch with us directly. [3][4], When the company was founded it entered a highly regulated transport market. The Mainfreight board is intent on doubling revenue to $2 billion by 2015, mostly from international earnings, and Mr Braid envisages at least 500 branches before too long. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo [3] [4] When the company was founded it entered a highly regulated transport market. He has an enviable track record of integrity and professionalism and wide ranging business experience. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Contact. What havent we got right? As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. 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. Us taking away that clock was about responsibility and about taking away that control from head office. Not bad for a Kiwi trucking company! 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. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. So take a peek at this free list of interesting companies. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets 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. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. How we can fix New Zealand's ports - Don Braid | BusinessDesk Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. At the end of the day, the decisions they made will be seen in the weekly results. Zac: Can you share more about your profit share? He previously worked for the Otago Daily Times, after a return to business journalism in 2018. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. 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. Who wouldnt want exposure to the retirement sector? 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. Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Today he chairs a group of telecommunication companies. 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? Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Biography 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. 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. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. We dont call them staff for us, they are our people or our team. don@mainfreight.com; Profile. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. I learned that early in the piece and I think its stood me in good stead. enter your email and well send you details. Don: I get out of the way. FINALIST 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. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Braid consistently delivers for shareholders and stakeholders alike. Mainfreight's straight-talking group managing director has an infectious zest for business. Photo / Supplied . It has been listed on the New Zealand Exchange since 1996. That's ambitious, even . +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Mainfreight Half Year Financial Results 30 September 2021 - NZX I suppose were grooming people all the time for those loaded leadership roles. Don Braid. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. You may withdraw your consent at any time. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. "He's sporting and tough and makes decisions quite fast," Plested says. 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. How do you maintain a positive culture and a time of crisis? Agreement with print tech giant Canon saves college thousands. So long term, we have a really experienced leadership team. Shareholders would be glad to know that the company has improved itself over the last few years. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Weve got examples of that in our business right now. The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. 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. Don: For us, its not about the short game, its about the long game. 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. 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. 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. Its a huge level of success and theres satisfaction you get from that. 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. "He never talks about himself and always talks about long-term goals," Hunt says. | 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.