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So a lot is about the long game. 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 He is an outstandingly consistent and capable chief executive. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Of course, you might find a fantastic investment by looking at a different set of stocks. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). "We've been in China for 20 years. 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. Don: I think empathy is really important. We use functional and analytical cookies on our website to offer an optimal user experience. Chief executive, Kiwibank Concerned about the content? Bryan has a wealth of experience, both in executive and board roles. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. 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. Chosen from New Zealand's top companies, this year's Deloitte . [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Thanks for your comments about Don Braid and Mainfreight. The company is growing EPS and total shareholder returns have been pleasing. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. I think our owner drivers are a key component of the relationship with the customer. Zac: Don, what makes you good? FINALIST For me its being in the business, with people and in particular with customers. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. 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. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Theres no bullshit in the numbers, they are what the business has earned. Chief executive, Air New Zealand 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. That was uppermost in our mind. 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. He owns a 3 per cent stake in the firm, worth about $29 million. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. BusinessDesk has a paywall for most of its content. Group Managing Director, Mainfreight. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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. 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. Don: The recruitment of our people sits with the branch managers. enter your email and well send you details. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. 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.". 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]. Shareholders would be glad to know that the company has improved itself over the last few years. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. Do also serves as a member of the Board of the Starship foundation. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. Email. Both are real legends and seem to really walk the talk. To trust your people too, to give them the responsibility. 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. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. 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. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. The relationships we develop, both with suppliers and with customers, are there for the long term. FINALIST 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. And then its about exploring 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. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Engage via Email. "There's no bureaucracy or hierarchy or superiority in the business. CEO compensation can have a massive impact on performance, but it's just one element. Thats the key. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Biography "He implements things very well and you don't have to remind him about anything you're trying to achieve. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Brent is a senior reporter based in Queenstown. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? 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. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Rob Fyfe Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. See the full transcript below. In 2008, the United States locations were re-branded as Mainfreight USA. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. 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! He has an enviable track record of integrity and professionalism and wide ranging business experience. How Does Don Braid's Compensation Compare With Similar Sized Companies? Appointment to Board 2000 - With Mainfreight since 1994. 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. People thrive on being given responsibility. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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. 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. "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.". And sometimes, particularly so in New Zealand, they see the market ultimately being as quite small, when in fact their product or service is good enough to take to the world. As you get bigger, staff engagement and culture becomes more difficult. It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. 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. 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. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. I suppose were grooming people all the time for those loaded leadership roles. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . A table of ten booking is available for $1000.00, subject to availability at the time of booking. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. 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. And what do you believe leaders need to excel at? Read More . Don: I get out of the way. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. "I don't think any of those things are really of interest to this," he says. 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. For us its about pushing the decision-making as close to the customer as possible, getting those people to make decisions rather than pushing them upstairs for someone else to make. Agreement with print tech giant Canon saves college thousands. 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 aim to bring you long-term focused analysis driven by fundamental data. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Don Braid's Phone Number and Email Last Update. 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. 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. Should it change? Previously, Don was a Political Columnist at Calgary Herald. It has been listed on the New Zealand Exchange since 1996. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. By using this website you consent to the use of cookies in accordance with our privacy policy. How does that actually work, practically? 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. 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? 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 joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. "He never moans about the currency and is always positive.". 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. [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. COVID-19 has had a significant impact on freight and supply chains worldwide. Media enquiries They know that now and can alter those decisions as they head into the week in front of them. 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. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. 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. 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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Don Braid (Mainfreight) Credit: Mainfreight . Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". 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. [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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. The price of the rights fell as low as 7.5 cents on the last day of trading. Mainfreight people, he says, don't "live in question marks". See ourstandard terms and conditionsfor more information. 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. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Contact. But the excitement is justified. Mainfreight's net profit rose by $40.1m to $188.1m. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. That's just a smallish increase of 6.9% on last year. I dont see this as a job, so therefore the stress levels arent as strong. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Zac: Lets talk more about those weekly P&Ls. 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. "He's sporting and tough and makes decisions quite fast," Plested says. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland.
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