don braid mainfreight net worth

And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Don Braid. 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. He has an enviable track record of integrity and professionalism and wide ranging business experience. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). See the full transcript below. Not bad for a Kiwi trucking company! 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. His intellect and pragmatic approach is highly regarded at the Board table. Learn more. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. So I think cashflow is king and Id be focused on that. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. 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. Don from Mainfreight talks to Fisher Funds. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. We offer lots of training as well, internally and externally. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Watson said she did not believe bonuses were a way. Will be fundamentally different from the last one. 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. So take a peek at this free list of interesting companies. Mainfreight - Wikipedia 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 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. Your email address will not be published. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. 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. Where should we open next? 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. 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. And he should know, having spent his entire working life in the freight industry. To trust your people too, to give them the responsibility. Agreement with print tech giant Canon saves college thousands. 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. Id also be really focused on being in touch with customers. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. But, he said, the groups response at the outset of the pandemic had been unequivocal. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Mainfreight shareholders would be similarly pleased. Other Current Directorships: He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Don: I think empathy is really important. Required fields are marked *. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? [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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Do also serves as a member of the Board of the Starship foundation. 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]. 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 [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. We're trying to break all that down.". He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Weve got examples of that in our business right now. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. What have we got right? Terms of use 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. 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. Chief executive, Mainfreight [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. Out of that, I think weve got the culture really starting to develop. Group Managing Director at Mainfreight NZ . Don: It should be where your skills are. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. JUDGES COMMENTS 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. The Biosecurity Business Pledge group has launched two new biosecurity guides. CEO compensation can have a massive impact on performance, but it's just one element. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Chief executive, Air New Zealand While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. Hi Tanya. By the way, its not just about us seeing those numbers. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. 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. 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. What do those customers look for from us? Don Braid Biography d***@mainfreight.com. 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. Subscribe to protect quality NZ journalism. Thats the key. Don: The recruitment of our people sits with the branch managers. 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. Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. I just have a belief and determination that weve got a pretty good business here. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Thanks Mr Braid for sharing your knowledge and insight. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Will His AI Plans Be Any Different? 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.". The long-term effects must be carefully studied. Theres no bullshit in the numbers, they are what the business has earned. Where do we need to be? Save my name, email, and website in this browser for the next time I comment. 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. 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. Insurers support an immediate managed retreat for recent flood victims. BusinessDesk has a paywall for most of its content. Today he chairs a group of telecommunication companies. What are the things you do that maybe others dont do that actually make you lead this organization? 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. 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. What are their requirements? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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]. Who wouldnt want exposure to the retirement sector? As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Mainfreight people, he says, don't "live in question marks". He previously worked for the Otago Daily Times, after a return to business journalism in 2018. The company is growing EPS and total shareholder returns have been pleasing. This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in. "It's not about what I've done - it's about what we've done and what the business has done," he says. Were thinking about being around for a hundred years. He owns a 3 per cent stake in the firm, worth about $29 million. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. 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. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Don Braid. 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. This endeavor launched the first permanent investment into South America. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. [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. [3] [4] When the company was founded it entered a highly regulated transport market. 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. Don: I get out of the way. Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. I suppose were grooming people all the time for those loaded leadership roles. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. So everything that we do is about being here for a long time. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Initially wed take 10% of that profit and share it equally with everybody in the branch but as weve developed and gotten a little more sophisticated, weve applied quality stats to the numbers. Experts say community investment is the future. Of course, you might find a fantastic investment by looking at a different set of stocks. So the idea was to make sure that our people were right, that our systems were ok, what customers could trade, and how we could help those customers as an essential service. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. And what do you believe leaders need to excel at? You know, people arrive when they arrive and they leave when they leave. | Both are real legends and seem to really walk the talk. Don Braid's Phone Number and Email Last Update. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. National's three waters policy is only cosmetically distinct from Labour's. 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. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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. 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 natural protection for earnings. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Mainfreight boss: China 'understands our value' - NZ Herald As a young salesperson aged 19, I couldnt make a cold call. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . He is an outstandingly consistent and capable chief executive. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. You may withdraw your consent at any time. For me its being in the business, with people and in particular with customers. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo Mainfreight's $43.9m 'family' bonus | BusinessDesk Don: Im not sure its stress. It only represents a small part of our revenue, but . So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. If were going to build facilities for our people, we build very good facilities to be around for a long time. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. 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. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport. Don: Um, I think its recognising good people. Read More . The Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. 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. Appointment to Board 2000 - With Mainfreight since 1994. Copyright 2023 Institute of Directors Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. The key for me is to be in the business as much as possible, to be visible. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. That's just a smallish increase of 6.9% on last year. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. "If you allow the recession to roll over the top of you there's a great chance it will.". Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. 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. So we are developing our people to be the best they possibly can be. 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). Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. A table of ten booking is available for $1000.00, subject to availability at the time of booking. People thrive on being given responsibility. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. 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. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. That was uppermost in our mind. I'm pleased I didn't do anything else.". What we put in place here in New Zealand became the blueprint for the organization around the world. Our subscriptions start at $24 / month for individuals. "He never moans about the currency and is always positive.". In 2008, the United States locations were re-branded as Mainfreight USA. Don Braid (Mainfreight) Credit: Mainfreight . Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Richard Prebble is by profession a lawyer. "You need some energy and you need to be on the front foot," he says. 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. Not living as a question mark but instead getting on with it and making those decisions. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border.