Don: Im not sure its stress. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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.". He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. 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. 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The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. Boards have a key role to play in the wake of any crisis. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Today he chairs a group of telecommunication companies. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? In light of current trends, we will provide a nine-month trading update mid-February 2022. 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. Wishing you the best in England and when you return to NZ. Musk Made a Mess at Twitter. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Component 2020 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. His intellect and pragmatic approach is highly regarded at the Board table. 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. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Id also be really focused on being in touch with customers. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. His company has been a shining example of success amid tough global economic conditions. Don: The culture is really important and our culture starts with those closest to the customer. 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And thats why we travel a lot when you visit, you can smell the morale in an instant. 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. You can be profitable and not collect the cash and go broke. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. 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. 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. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. 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. Mainfreight shareholders would be similarly pleased. Bryan has a wealth of experience, both in executive and board roles. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. We use functional and analytical cookies on our website to offer an optimal user experience. [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. If were going to build facilities for our people, we build very good facilities to be around for a long time. It only represents a small part of our revenue, but . The company is growing EPS and total shareholder returns have been pleasing. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. National's three waters policy is only cosmetically distinct from Labour's. Its the individuals responsibility to arrive on time and stay until the jobs finished. 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! So what you produce in terms of profitability is real. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Do also serves as a member of the Board of the Starship foundation. 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). Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. d***@mainfreight.com. WINNER Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. Concerned about the content? He is an outstandingly consistent and capable chief executive. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. "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.". [3][4], When the company was founded it entered a highly regulated transport market. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. 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. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Watson said she did not believe bonuses were a way. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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. Well in Europe they had these time clocks. 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. Media enquiries [4] This operation was expanded with depots in Melbourne and Brisbane. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. The firm's shares have been one of the best performing stocks on the NZX, returning more than. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. 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. Sam Knowles 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. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. We dont call them staff for us, they are our people or our team. [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. Don Braid 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. Terms of use He owns a 3 per cent stake in the firm, worth about $29 million. The long-term effects must be carefully studied. So everything that we do is about being here for a long time. Don: I think empathy is really important. Chosen from New Zealand's top companies, this year's Deloitte . I dont believe that. That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. It has been listed on the New Zealand Exchange since 1996. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. It is totally how I believe a company should be and I love how everyone starts at the bottom. "I don't think any of those things are really of interest to this," he says. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. The relationships we develop, both with suppliers and with customers, are there for the long term. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Alternatively, email [email protected]. 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. Im not sure well see driverless trucks in NZ for some time to come. 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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. They love this as it makes them feel supported and that I understand their role. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. "That gives us an enormous amount of opportunity.". What we put in place here in New Zealand became the blueprint for the organization around the world. 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. [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. 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. We're trying to break all that down.". Were thinking about being around for a hundred years. 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. 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. CEO compensation can have a massive impact on performance, but it's just one element. 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. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. 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. BusinessDesk has a paywall for most of its content. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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. 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. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. "He never talks about himself and always talks about long-term goals," Hunt says. 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. 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. 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. 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 He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Weve got examples of that in our business right now. Youve got to think about that as small groups of people looking after our customers and each group is important in their own right and theyll have their own little traits. Will be fundamentally different from the last one. | 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. 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. Where should we open next? [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Zac: Can you share more about your profit share? This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Where do we need to be? Check out our latest analysis for Mainfreight. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. At the end of the day, the decisions they made will be seen in the weekly results. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. 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). 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. 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. Zac: How do you prioritise where to spend your time in a normal week? A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Click on [Agree] or [Disagree] to accept or refuse cookies. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. 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 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. Since the acquisition of the Wim Bosman Group the eurozone has spiralled to the brink of economic disaster, but 52-year-old Braid says doing business on the debt-ravaged continent is nothing other than an "exciting" prospect. So a lot is about the long game. Youve got to have good outlets. The firm has earned a reputation within the market for being slickly-run. 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. Not living as a question mark but instead getting on with it and making those decisions. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. For more information, please visit our cookie statement. "He never moans about the currency and is always positive.". Both are real legends and seem to really walk the talk. Some of the leading players in the listed retirement sector have been raising capital. Rob Fyfe I really want to be in front of those customers! Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Look after your people and theyll look after the business. 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. He attributed the. Mainfreight's net profit rose by $40.1m to $188.1m. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. 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.
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