Email. In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. 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. "I don't think any of those things are really of interest to this," he says. [13] The transaction was completed on 6 June 2007. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Where should we open next? Some of the leading players in the listed retirement sector have been raising capital. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. By the way, its not just about us seeing those numbers. It is totally how I believe a company should be and I love how everyone starts at the bottom. A table of ten booking is available for $1000.00, subject to availability at the time of booking. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. We aim to bring you long-term focused analysis driven by fundamental data. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. 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. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. He brings strong financial skills and business acumen to the role. 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. 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]. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . Other Current Directorships:
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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. He is an outstandingly consistent and capable chief executive. "He's sporting and tough and makes decisions quite fast," Plested says. Zac: Don, having a decentralized business, whats been your approach to leadership? You know, people arrive when they arrive and they leave when they leave. Our subscriptions start at $24 / month for individuals. 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. 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. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Read More . 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. [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. Not living as a question mark but instead getting on with it and making those decisions. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? 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. FINALIST Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Mainfreight's net profit rose by $40.1m to $188.1m. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. But the excitement is justified. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. You may withdraw your consent at any time. 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. Chief executive, Air New Zealand 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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. Check out our latest analysis for Mainfreight. He has an enviable track record of integrity and professionalism and wide ranging business experience. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. don@mainfreight.com; Profile. Whats changed? In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Richard Prebble is by profession a lawyer. 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. I dont believe that. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. What do those customers look for from us? He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. What havent we got right? "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. What have we got right? We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. 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. So long term, we have a really experienced leadership team. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. 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. For more information, please visit our cookie statement. 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. 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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Out of that, I think weve got the culture really starting to develop. Bryan has a wealth of experience, both in executive and board roles. 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. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Don: I think its quite a long way off. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. Weve got examples of that in our business right now. So the weekly P&L puts them on the spot. Sam Knowles DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Mainfreight managing director Don Braid. | Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Don from Mainfreight talks to Fisher Funds. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. Will be fundamentally different from the last one. Im not sure well see driverless trucks in NZ for some time to come. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Despite international growth and success, Braid is passionate about keeping the company proudly Kiwi-owned and has been an outspoken voice on local transport and infrastructure matters. 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? "There's no bureaucracy or hierarchy or superiority in the business. That was uppermost in our mind. Its having empathy and I think Im patient, determined, have belief and energy. If were going to build facilities for our people, we build very good facilities to be around for a long time. I might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. "I probably wasn't qualified enough to go to university," Braid says. 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.. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Today he chairs a group of telecommunication companies. 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. The company is growing EPS and total shareholder returns have been pleasing. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. | We dont call them staff for us, they are our people or our team. In light of current trends, we will provide a nine-month trading update mid-February 2022. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. In 2008, the United States locations were re-branded as Mainfreight USA. 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. 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. What we put in place here in New Zealand became the blueprint for the organization around the world. 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. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. How do I gain more customers? Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. Chief executive, Kiwibank "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.". Look after your people and theyll look after the business. 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. [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. His intellect and pragmatic approach is highly regarded at the Board table. 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. See guidance for chairs and directors. 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. 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. 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. 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. And thats that. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. 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. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. 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. 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. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. What else do we need to do to satisfy that bunch of customers? Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. Experts say community investment is the future. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. 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? His company has been a shining example of success amid tough global economic conditions. Mainfreight people, he says, don't "live in question marks". 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. FINALIST Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Weve sort of tucked on the back of some trials in Europe and in the States where they were running in threes and fours behind each other, all connected by a computer. 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. They know that now and can alter those decisions as they head into the week in front of them. [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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Photo / Supplied . As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. 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. d***@mainfreight.com. Don Braid. And thats why we travel a lot when you visit, you can smell the morale in an instant. Hes the right man for the job at just the right time. Thanks for your comments about Don Braid and Mainfreight. 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. Don: Im not sure its stress. 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. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. I will definitely be following the Mainfreight progress closely for when I return to NZ. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. Your email address will not be published. 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I think our owner drivers are a key component of the relationship with the customer. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Nothing drives home the state of our roads like a trip on a bike.
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