Zac: Can you share what some of the great ideas youve actually brought from overseas have been? I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Everyone stands on their own two feet. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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.. 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. Some people dont want any more responsibility they find their own ceiling and thats fine. Theres no cross subsidies. Agreement with print tech giant Canon saves college thousands. 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. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. Contact. Sam Knowles FINALIST Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. Its an intimate touch with the P&L; the weeklies tell us lot. Another attribute is straight talking. Its a huge level of success and theres satisfaction you get from that. 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. And if you dont make a profit, theres no bonus that year. The company is growing EPS and total shareholder returns have been pleasing. Group Managing Director at Mainfreight NZ . How we can fix New Zealand's ports - Don Braid | BusinessDesk [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. don@mainfreight.com; Profile. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. 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). To trust your people too, to give them the responsibility. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. 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 asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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]. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. And thats that. 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). National's three waters policy is only cosmetically distinct from Labour's. Appointment to Board 2000 - With Mainfreight since 1994. Is our service or a product still current? What are their requirements? Its the individuals responsibility to arrive on time and stay until the jobs finished. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. JUDGES COMMENTS Don Braid. We offer lots of training as well, internally and externally. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Where should we open next? Don Braid Nothing drives home the state of our roads like a trip on a bike. Its having empathy and I think Im patient, determined, have belief and energy. What more could I be doing in the business to actually grow my revenues in these difficult times? 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. | Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. So the weekly P&L puts them on the spot. Theres no bullshit in the numbers, they are what the business has earned. How does that actually work, practically? So what you produce in terms of profitability is real. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. [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. I dont believe that. So a lot is about the long game. Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. Not bad for a Kiwi trucking company! 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 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 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. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Both are real legends and seem to really walk the talk. Concerned about the content? Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. So youre not only giving them a responsibility for the P&L, but youre also giving them the responsibility of whos going to join our family. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. BusinessDesk has a paywall for most of its content. How Does Don Braid's Compensation Compare With Similar Sized Companies? Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. 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. 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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 11/5/2022 3:33 PM. [3] [4] When the company was founded it entered a highly regulated transport market. He is an outstandingly consistent and capable chief executive. CEO compensation can have a massive impact on performance, but it's just one element. Zac: Don, what makes you good? 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. 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. 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: The culture is really important and our culture starts with those closest to the customer. Weve needed to adjust, particularly in the international sector, air freight charters rather than just normal air freight our people had never had any experience in chartering a full plane. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. "We've been in China for 20 years. 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. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. 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. 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. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. 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. At the end of the day, the decisions they made will be seen in the weekly results. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. 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. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Mainfreight's $43.9m 'family' bonus | BusinessDesk 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. 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. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. 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. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. | Once it became a global pandemic we needed to react and adapt as quickly as we could. See ourstandard terms and conditionsfor more information. 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. It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. Mainfreight Half Year Financial Results 30 September 2021 - NZX 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. They know that now and can alter those decisions as they head into the week in front of them. His intellect and pragmatic approach is highly regarded at the Board table. In 2008, the United States locations were re-branded as Mainfreight USA. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. enter your email and well send you details. Thanks for your comments about Don Braid and Mainfreight. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. So each person can earn some more money by not just making profit, but keeping customers happy, keeping claims to a lower amount, making sure were collecting cash, making sure that were delivering freight in full and on time but the base bonus, everybody gets the same amount no matter whether youve been there for one year or for 40 years and no matter what your position is. "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.". Lessons from the Managing Director of one of NZ's most successful I think our owner drivers are a key component of the relationship with the customer. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Read More . [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. He owns a 3 per cent stake in the firm, worth about $29 million. Copyright 2023 Institute of Directors What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Zac: Whats a bit of business advice you can share? In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. 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. Mainfreight completes huge software roll-out, spanning A/NZ, US and Hes the right man for the job at just the right time. Some of the leading players in the listed retirement sector have been raising capital. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. See the full transcript below. Please note that with cookies disabled you will have a degraded experience with some features. 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. "There's no bureaucracy or hierarchy or superiority in the business. But, he said, the groups response at the outset of the pandemic had been unequivocal. The long-term effects must be carefully studied. That's just a smallish increase of 6.9% on last year. "That gives us an enormous amount of opportunity.". I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. This article by Simply Wall St is general in nature. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Terms of use So long term, we have a really experienced leadership team. Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Id also be really focused on being in touch with customers. Component 2020 Out of that, I think weve got the culture really starting to develop. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? [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. 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. See guidance for chairs and directors. Chief executive, Kiwibank But the excitement is justified. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. We aim to bring you long-term focused analysis driven by fundamental data. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. If you trust your people, look after them and give them responsibility, theyll deliver. As a young salesperson aged 19, I couldnt make a cold call. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. 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. Zac: Don, your 100-year vision how does that work? Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. 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. 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. Don: For us, its not about the short game, its about the long game. It now has 22 company depots in Australia and relies on agents and third parties in the Northern Territory, Tasmania and some of regional Australia. | 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. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Wed rather own assets than lease them. Chief executive, Mainfreight "If you allow the recession to roll over the top of you there's a great chance it will.". 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. Zac: Lets talk more about those weekly P&Ls. 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. Mainfreight founder says bonuses help solve inequality and - Stuff We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Don: I think empathy is really important. Its revenue is up 5.9% over the last year. 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. 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. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Zac: How do you prioritise where to spend your time in a normal week? He brings strong financial skills and business acumen to the role.

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