While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Its revenue is up 5.9% over the last year. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. And if you dont make a profit, theres no bonus that year. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Shareholders would be glad to know that the company has improved itself over the last few years. [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. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. 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. 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". We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Some of the leading players in the listed retirement sector have been raising capital. Should it change? Im not sure well see driverless trucks in NZ for some time to come. Theres no bullshit in the numbers, they are what the business has earned. Mainfreight Half Year Financial Results 30 September 2021 - NZX Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. 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. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. "There's no bureaucracy or hierarchy or superiority in the business. 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. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. They love this as it makes them feel supported and that I understand their role. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. We dont call them staff for us, they are our people or our team. Mainfreight shareholders would be similarly pleased. 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 dont see this as a job, so therefore the stress levels arent as strong. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? See ourstandard terms and conditionsfor more information. And thats that. Youve got to have good outlets. Zac: Whats a bit of business advice you can share? Don Braid don@mainfreight.com; Profile. Will be fundamentally different from the last one. In light of current trends, we will provide a nine-month trading update mid-February 2022. 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. Weve made this article available for free. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. Contact. 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: The culture is really important and our culture starts with those closest to the customer. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. We aim to bring you long-term focused analysis driven by fundamental data. 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! Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. 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. "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.". 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. Read More . Its great fun. So weve got eight and a half thousand people and 282 locations. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. 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. Another attribute is straight talking. So the weekly P&L puts them on the spot. I suppose were grooming people all the time for those loaded leadership roles. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. So long term, we have a really experienced leadership team. Required fields are marked *. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? "It's not about what I've done - it's about what we've done and what the business has done," he says. You can follow him on Twitter, New tourism plan sidesteps immigration elephant, Mortgage arrears up as rates start to bite, Investors queue up ahead of Du Val liquidity events, Affordable housing levy sparks fear and loathing in Queenstown. You need to have been there 12 months to earn the full bonus that everybody else gets. Subscribe, 0.1 The Four Pillars of Governance Best Practice, 0.3 Corporate governance landscape in New Zealand, The second pillar - An effective governance culture, 2.3 Board architecture a charter for the board, 2.4 Board composition and succession planning, 2.5 Key competencies for non-executive directors, 3.6 Technology and information governance, 3.11 Employees holding external directorships, 4.4 Director shareholdings and insider trading, 4.16 The company secretary or corporate officer, Breakfast with Don Braid, Managing Director of Mainfreight Ltd. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. He is an outstandingly consistent and capable chief executive. Watson said she did not believe bonuses were a way. We're trying to break all that down.". Engage via Email. Chief executive, Air New Zealand 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? 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. "I probably wasn't qualified enough to go to university," Braid says. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. His father was a truck driver, but he says that didn't influence his career decisions. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. 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. That's ambitious, even . Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. 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. Biography 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. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. 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.". What do those customers look for from us? 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. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. 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. You cant see yourself as an employer of 8500 people. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Wishing you the best in England and when you return to NZ. 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. 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. How are we changing the business accordingly? Chief executive, Kiwibank Don Braid (Mainfreight) Credit: Mainfreight . How do you maintain a positive culture and a time of crisis? 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Don: I think empathy is really important. Mainfreight's $43.9m 'family' bonus | BusinessDesk How does that actually work, practically? 11/5/2022 3:33 PM. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders.

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