don braid mainfreight net worth10 marca 2023
Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. What havent we got right? Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. 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. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. So I think cashflow is king and Id be focused on that. [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. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. You cant see yourself as an employer of 8500 people. 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. 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, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. Mainfreight shareholders would be similarly pleased. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. See ourstandard terms and conditionsfor more information. 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. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. The key for me is to be in the business as much as possible, to be visible. If you trust your people, look after them and give them responsibility, theyll deliver. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. By using this website you consent to the use of cookies in accordance with our privacy policy. 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. "We've been in China for 20 years. 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. 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. CEO compensation can have a massive impact on performance, but it's just one element. Will His AI Plans Be Any Different? So what you produce in terms of profitability is real. See the full transcript below. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Get in touch with us directly. 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. [3][4], When the company was founded it entered a highly regulated transport market. Privacy policy The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. His company has been a shining example of success amid tough global economic conditions. Once it became a global pandemic we needed to react and adapt as quickly as we could. Its great fun. This endeavor launched the first permanent investment into South America. 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. Don: I get out of the way. Shareholders would be glad to know that the company has improved itself over the last few years. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. The multinational logistics and transport group announced a year end dividend of 45 cents a share, taking the full dividend for the year to 75c, up 27% on the prior year. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Don: With this event in front of us right now, I think cash is king, and the collection of cash. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Group Managing Director at Mainfreight NZ . Other Current Directorships: What do those customers look for from us? The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. Rob Fyfe Mainfreight's straight-talking group managing director has an infectious zest for business. Component 2020 WINNER When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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. 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. Don: I think its quite a long way off. "He never talks about himself and always talks about long-term goals," Hunt says. The branch managers are the kings and queens, by the way, because thats where the moneys made the national team is just there to support the branch managers. 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. Don: Im not sure its stress. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. 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. Hes the right man for the job at just the right time. Both are real legends and seem to really walk the talk. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Email. 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. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Previously, Don was a Political Columnist at Calgary Herald. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. | Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. What are their requirements? 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. See guidance for chairs and directors. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Don: Its been interesting! Chosen from New Zealand's top companies, this year's Deloitte . I just have a belief and determination that weve got a pretty good business here. They know that now and can alter those decisions as they head into the week in front of them. Appointment to Board 2000 - With Mainfreight since 1994. Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Youve got to break it down. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. [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. "He's sporting and tough and makes decisions quite fast," Plested says. The multinational logistics and transport group announced a year end dividend of 45 cents a share, taking the full dividend for the year to 75c, up 27% on the prior year. 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. [3] [4] When the company was founded it entered a highly regulated transport market. 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. Save my name, email, and website in this browser for the next time I comment. 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]. So weve got eight and a half thousand people and 282 locations. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. "I probably wasn't qualified enough to go to university," Braid says. "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.". 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. I learned that early in the piece and I think its stood me in good stead. 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. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Youve got to have good outlets. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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.. 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. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader 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. 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. 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. For me its being in the business, with people and in particular with customers. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. 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! Zac: Lets talk more about those weekly P&Ls. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. And then its about exploring the long game. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. They love this as it makes them feel supported and that I understand their role. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Thanks Mr Braid for sharing your knowledge and insight. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. And thats why we travel a lot when you visit, you can smell the morale in an instant. Us taking away that clock was about responsibility and about taking away that control from head office. 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. So the weekly P&L puts them on the spot. He brings strong financial skills and business acumen to the role. 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. You can be profitable and not collect the cash and go broke. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Don Braid. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International).