don braid mainfreight net worth don braid mainfreight net worth

"We've been in China for 20 years. That's ambitious, even . To trust your people too, to give them the responsibility. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Thanks for your comments about Don Braid and Mainfreight. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. They have over 8500 staff in 280+ locations across 28 countries, so it was pretty cool (and humbling) for us to be able to chat to Don with some of our Business Changing clients recently. Some of the leading players in the listed retirement sector have been raising capital. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. What more could I be doing in the business to actually grow my revenues in these difficult times? We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. I will definitely be following the Mainfreight progress closely for when I return to NZ. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. Mainfreight managing director Don Braid. Alternatively, email editorial-team@simplywallst.com. 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. 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. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Get in touch with us directly. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). Don Braid. That was uppermost in our mind. The relationships we develop, both with suppliers and with customers, are there for the long term. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. And thats that. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. 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. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Early on, New Zealand had great lessons to take to the rest of our network. 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 chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. "You need some energy and you need to be on the front foot," he says. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Shareholders would be glad to know that the company has improved itself over the last few years. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Don has over 40 years experience in the freight industry, including 26 with Mainfreight. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Mainfreight shareholders would be similarly pleased. 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Learn more. Who wouldnt want exposure to the retirement sector? Don: Its been interesting! And then its about exploring the long game. 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. Don: The recruitment of our people sits with the branch managers. Check out our latest analysis for Mainfreight. Click on [Agree] or [Disagree] to accept or refuse cookies. 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. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. His intellect and pragmatic approach is highly regarded at the Board table. Zac: Don, what makes you good? What havent we got right? 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. Youve got to break it down. I dont believe that. 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. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Weve made this article available for free. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. "I just think that's disgusting," he says. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Id also be really focused on being in touch with customers. "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. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Watson said she did not believe bonuses were a way. 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. Im not sure well see driverless trucks in NZ for some time to come. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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 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. Boards have a key role to play in the wake of any crisis. It has been listed on the New Zealand Exchange since 1996. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. And he should know, having spent his entire working life in the freight industry. 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. Wishing you the best in England and when you return to NZ. Your email address will not be published. Weve got examples of that in our business right now. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. Hi Tanya. See guidance for chairs and directors. Don: It should be where your skills are. 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. We offer lots of training as well, internally and externally. He is an outstandingly consistent and capable chief executive. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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]. Whats changed? For more information, please visit our cookie statement. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 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. 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. Agreement with print tech giant Canon saves college thousands. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. The firms European business where it has a footprint of more than 330,000 sqm of warehousing saw a 23.4% improvement in profit before tax to 22.35m, despite extensive lockdowns across the continent, many of which were ongoing. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. So long term, we have a really experienced leadership team. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. We use functional and analytical cookies on our website to offer an optimal user experience. Zac: Whats a bit of business advice you can share? Out of that, I think weve got the culture really starting to develop. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. 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. [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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". "He never talks about himself and always talks about long-term goals," Hunt says. 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. Don: Well, the numbers never lie, right? 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. Your email address will not be published. Hes the right man for the job at just the right time. 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". Will be fundamentally different from the last one. By using this website you consent to the use of cookies in accordance with our privacy policy. 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. 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. The long-term effects must be carefully studied. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. This endeavor launched the first permanent investment into South America. 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. 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. 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. Another attribute is straight talking. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Zac: Can you share more about your profit share? Where do we need to be? Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). 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. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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 it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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.. [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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Cash flow is essential for any business survival. 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. Read More . The Biosecurity Business Pledge group has launched two new biosecurity guides. Our subscriptions start at $24 / month for individuals. 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. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. You can be profitable and not collect the cash and go broke. 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. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. How Does Don Braid's Compensation Compare With Similar Sized Companies? He attributed the. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. 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. Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. Don: I get out of the way. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. You may withdraw your consent at any time. His father was a truck driver, but he says that didn't influence his career decisions. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. The price of the rights fell as low as 7.5 cents on the last day of trading. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. 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. 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. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Zac: Don, your 100-year vision how does that work? I learned that early in the piece and I think its stood me in good stead. CEO compensation can have a massive impact on performance, but it's just one element. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. What are the things you do that maybe others dont do that actually make you lead this organization? 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Should it change? | You need to have been there 12 months to earn the full bonus that everybody else gets. Don: Im not sure its stress. Prior to joining Air New Zealand, he held range of senior management positions both within New Zealand and overseas, including roles with the National Australia Bank, Bank of New Zealand, Telecom NZ and ITV Group in the UK. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. 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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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 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. What we put in place here in New Zealand became the blueprint for the organization around the world. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. We're trying to break all that down.". Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. 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. They love this as it makes them feel supported and that I understand their role. Nothing drives home the state of our roads like a trip on a bike. 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. 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