But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. By using this website you consent to the use of cookies in accordance with our privacy policy. Appointment to Board 2000 - With Mainfreight since 1994. Hi Tanya. Once it became a global pandemic we needed to react and adapt as quickly as we could. Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. 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. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Agreement with print tech giant Canon saves college thousands. Don Braid This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, What Do You Want to See in a Covid Memorial? "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Don: I think empathy is really important. Its the individuals responsibility to arrive on time and stay until the jobs finished. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. "There's no bureaucracy or hierarchy or superiority in the business. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. [3] [4] When the company was founded it entered a highly regulated transport market. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Its revenue is up 5.9% over the last year. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. As an example, we know what money weve made or lost last week in every single one of those 282 branches as of about half an hour ago. This endeavor launched the first permanent investment into South America. COVID-19 has had a significant impact on freight and supply chains worldwide. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Nothing drives home the state of our roads like a trip on a bike. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. The key for me is to be in the business as much as possible, to be visible. In light of current trends, we will provide a nine-month trading update mid-February 2022. Terms of use Don from Mainfreight talks to Fisher Funds. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Will be fundamentally different from the last one. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. "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.". Your email address will not be published. To join your company account for BusinessDesk and enjoy full access, Chief executive, Mainfreight PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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. How do you maintain a positive culture and a time of crisis? The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Where should we open next? In addition, we use tracking cookies, which can collect information about you and follow your internet activity within our website, and possibly outside our website as well. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Hes the right man for the job at just the right time. Q&A with Mainfreight's Don Braid - Business Changing Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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. 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. 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. Director Profiles - Mainfreight Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. 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. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Mainfreight's net profit rose by $40.1m to $188.1m. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. 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. 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. Richard Prebble is by profession a lawyer. 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. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. don@mainfreight.com; Profile. So everything that we do is about being here for a long time. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Media enquiries 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. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. "I just think that's disgusting," he says. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Thanks for your comments about Don Braid and Mainfreight. Don: The recruitment of our people sits with the branch managers. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. If you trust your people, look after them and give them responsibility, theyll deliver. Some people dont want any more responsibility they find their own ceiling and thats fine. Mainfreight Half Year Financial Results 30 September 2021 - NZX Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. 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 note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. 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 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. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). Watson said she did not believe bonuses were a way. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Im not sure well see driverless trucks in NZ for some time to come. Appointment to Board 2000 - With Mainfreight since 1994. 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]. Cash flow is essential for any business survival. Its a huge level of success and theres satisfaction you get from that. 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. So I think cashflow is king and Id be focused on that. 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. Not living as a question mark but instead getting on with it and making those decisions. Engage via Email. 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. And thats that. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. Mainfreight completes huge software roll-out, spanning A/NZ, US and Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Id also be really focused on being in touch with customers. 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. 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. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Mainfreight - Wikipedia His father was a truck driver, but he says that didn't influence his career decisions. 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. 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 doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Read More . Will His AI Plans Be Any Different? Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Component 2020 Other Current Directorships: I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? [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. 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. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. 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. Musk Made a Mess at Twitter. For more information, please visit our cookie statement. 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.. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. "That gives us an enormous amount of opportunity.". Zac: Lets talk more about those weekly P&Ls. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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".
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