As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Business Leader of the Year 2011 Winner: Don Braid - NZ Herald 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. 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. 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. 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. Thanks for your comments about Don Braid and Mainfreight. 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. 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. Copyright 2023 Institute of Directors How Does Don Braid's Compensation Compare With Similar Sized Companies? New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . JUDGES COMMENTS Group Managing Director, Mainfreight. Don: I think empathy is really important. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Click on [Agree] or [Disagree] to accept or refuse cookies. Another attribute is straight talking. FINALIST The long-term effects must be carefully studied. So a lot is about the long game. 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. 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. [3][4], When the company was founded it entered a highly regulated transport market. See the full transcript below. 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. How we can fix New Zealand's ports - Don Braid | BusinessDesk To join your company account for BusinessDesk and enjoy full access, He brings strong financial skills and business acumen to the role. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. 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. Mainfreight people, he says, don't "live in question marks". So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. 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. He knows where the company is going and, more importantly, how it will get there. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. 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. Weve got examples of that in our business right now. 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. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Theres no cross subsidies. We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. 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. 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. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Rob Fyfe Once it became a global pandemic we needed to react and adapt as quickly as we could. Mainfreight completes huge software roll-out, spanning A/NZ, US and 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. Don Braid - newzealandinc.com DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. That's ambitious, even . Its great fun. How do you maintain a positive culture and a time of crisis? What more could I be doing in the business to actually grow my revenues in these difficult times? 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Of course, you might find a fantastic investment by looking at a different set of stocks. The key for me is to be in the business as much as possible, to be visible. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. His intellect and pragmatic approach is highly regarded at the Board table. Email. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a 'maximum' of three to avoid being side-lined by major shippers.The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the Look after your people and theyll look after the business. Youve got to have good outlets. enter your email and well send you details. Biography I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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! 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. While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. 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.. 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. See ourstandard terms and conditionsfor more information. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Zac: Lets talk more about those weekly P&Ls. The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. Don: I think its quite a long way off. Mainfreight shareholders would be similarly pleased. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. Richard Prebble is by profession a lawyer. 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.". Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. We use functional and analytical cookies on our website to offer an optimal user experience. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Check out our latest analysis for Mainfreight. Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. 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. Chosen from New Zealand's top companies, this year's Deloitte . In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Sam Knowles Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. You need to have been there 12 months to earn the full bonus that everybody else gets. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Terms of use 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . To trust your people too, to give them the responsibility. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. 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. 2023: A year of trepidation unless you take control, Talking to 2022 Westpac Supreme Business Winner, Juliette Hogan, How Fix & Fogg are winning the hearts of Americans. For me its being in the business, with people and in particular with customers. You may withdraw your consent at any time. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo "He never talks about himself and always talks about long-term goals," Hunt says. Both are real legends and seem to really walk the talk. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. 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. And if you dont make a profit, theres no bonus that year. The opportunities offshore and the populations that exist in some of those other countries are large; you only have to get something half right in some of those countries and youre growing a big business compared to what you have here in New Zealand. Will His AI Plans Be Any Different? CEO compensation can have a massive impact on performance, but it's just one element. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. Experts say community investment is the future. So we are developing our people to be the best they possibly can be. 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. Not bad for a Kiwi trucking company! | He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. 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. 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]. As you get bigger, staff engagement and culture becomes more difficult. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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. Group Managing Director at Mainfreight NZ . [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. Mainfreight half year net profit lifts 79 per cent despite supply chain I feed off that and suppose the people in our business like seeing that and see it as an example and follow. He attributed the. Agreement with print tech giant Canon saves college thousands. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Learn more. National's three waters policy is only cosmetically distinct from Labour's. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets 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. Mainfreight - Wikipedia Wed rather own assets than lease them. Our subscriptions start at $24 / month for individuals. By using this website you consent to the use of cookies in accordance with our privacy policy. 11/5/2022 3:33 PM. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. 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. 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. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Mainfreight boss: China 'understands our value' - NZ Herald 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. Zac: Don, having a decentralized business, whats been your approach to leadership? 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. Im not sure well see driverless trucks in NZ for some time to come. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Hamish. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? He owns a 3 per cent stake in the firm, worth about $29 million. Where do we need to be? [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Director Profiles | New Zealand - Mainfreight We're trying to break all that down.". We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Zac: What is the Mainfreight way when it comes to culture? Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches.