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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. 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. We're trying to break all that down.". Chosen from New Zealand's top companies, this year's Deloitte . Out of that, I think weve got the culture really starting to develop. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. FINALIST But, he said, the groups response at the outset of the pandemic had been unequivocal. 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. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. "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.". It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. If you trust your people, look after them and give them responsibility, theyll deliver. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Alternatively, email editorial-team@simplywallst.com. 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. 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. 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. To join your company account for BusinessDesk and enjoy full access, 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 price of the rights fell as low as 7.5 cents on the last day of trading. 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. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. We offer lots of training as well, internally and externally. Mainfreight's straight-talking group managing director has an infectious zest for business. He attributed the. Don: I get out of the way. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. Of course, you might find a fantastic investment by looking at a different set of stocks. So we are developing our people to be the best they possibly can be. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. [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. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Do also serves as a member of the Board of the Starship foundation. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Hi Tanya. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Watson said she did not believe bonuses were a way. 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. 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. The company is growing EPS and total shareholder returns have been pleasing. 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. 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. That was uppermost in our mind. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Don Braid 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. The long-term effects must be carefully studied. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Sam Knowles [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Subscribe to protect quality NZ journalism. "That gives us an enormous amount of opportunity.". 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. You can be profitable and not collect the cash and go broke. 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. Boards have a key role to play in the wake of any crisis. 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. Its the individuals responsibility to arrive on time and stay until the jobs finished. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. See the full transcript below. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. "There's no bureaucracy or hierarchy or superiority in the business. The firm's shares have been one of the best performing stocks on the NZX, returning more than. "He implements things very well and you don't have to remind him about anything you're trying to achieve. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. don@mainfreight.com; Profile. 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. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. You may withdraw your consent at any time. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . d***@mainfreight.com. So a lot is about the long game. It has been listed on the New Zealand Exchange since 1996. 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. Copyright 2023 Institute of Directors 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.. Mainfreight shareholders would be similarly pleased. An unabashed promoter of New Zealand success, he has an extensive background in the banking industry in New Zealand and Australia, with senior management experience in marketing, strategic planning, retail services and business development. Well in Europe they had these time clocks. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. "I just think that's disgusting," he says. So everything that we do is about being here for a long time. Zac: Don, what makes you good? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. 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). Experts say community investment is the future. Photo / Supplied . While there was someone in the drivers seat, the computer took over the vehicle. Don: It should be where your skills are. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. JUDGES COMMENTS His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? 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. WINNER 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. They love this as it makes them feel supported and that I understand their role. The firms European business where it has a footprint of more than 330,000 sqm of warehousing saw a 23.4% improvement in profit before tax to 22.35m, despite extensive lockdowns across the continent, many of which were ongoing. Engage via Email. Zac: Whats a bit of business advice you can share? Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 5 November 2019 - Mainfreight's Don Braid has reinforced his reputation as one of New Zealand's most successful executives, being named Executive of the Decade at the 2019 Deloitte Top 200 Awards in Auckland tonight (5 December 2019).Mainfreight was also named Company of the Year, sponsored by Deloitte Digital and Marsh. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. "If you allow the recession to roll over the top of you there's a great chance it will.". Learn more. 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. "We've been in China for 20 years. How do I gain more customers? I dont see this as a job, so therefore the stress levels arent as strong. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. Contact. And what do you believe leaders need to excel at? As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Component 2020 Mainfreight's net profit rose by $40.1m to $188.1m. He is an outstandingly consistent and capable chief executive. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. "He's sporting and tough and makes decisions quite fast," Plested says. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett.