Don has over 40 years' experience in the freight industry, including 26 with 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. 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. 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. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid His intellect and pragmatic approach is highly regarded at the Board table. Mainfreight's straight-talking group managing director has an infectious zest for business. | I will definitely be following the Mainfreight progress closely for when I return to NZ. Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. 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. 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. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. He attributed the. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. 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. Not bad for a Kiwi trucking company! They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid's more modest 2.79% stake is still worth about $70m - supplemented by annual remuneration of $2.2m in 2017. Don: I get out of the way. Chief executive, Air New Zealand The firm has earned a reputation within the market for being slickly-run. That was uppermost in our mind. 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. 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. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. 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. 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. [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 gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. "He implements things very well and you don't have to remind him about anything you're trying to achieve. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. What havent we got right? Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. Chosen from New Zealand's top companies, this year's Deloitte . And thats that. Terms of use Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? 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. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. And if you dont make a profit, theres no bonus that year. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Don: The culture is really important and our culture starts with those closest to the customer. Today he chairs a group of telecommunication companies. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Some of the leading players in the listed retirement sector have been raising capital. JUDGES COMMENTS 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. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. It only represents a small part of our revenue, but . It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. [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. Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. 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. And thats why we travel a lot when you visit, you can smell the morale in an instant. Im not sure well see driverless trucks in NZ for some time to come. Early on, New Zealand had great lessons to take to the rest of our network. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Mainfreight founder says bonuses help solve inequality and - Stuff For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. 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]. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. 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. Mainfreight's $43.9m 'family' bonus | BusinessDesk Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. And what do you believe leaders need to excel at? 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. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. BRAID, Don - NBR | The Authority since 1970 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. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Previously, Don was a Political Columnist at Calgary Herald. We offer lots of training as well, internally and externally. Id also be really focused on being in touch with customers. I learned that early in the piece and I think its stood me in good stead. 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.. Required fields are marked *. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. 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. Lessons from the Managing Director of one of NZ's most successful Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. So what you produce in terms of profitability is real. 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. FINALIST Get in touch with us directly. 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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. And he should know, having spent his entire working life in the freight industry. Who wouldnt want exposure to the retirement sector? Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. What we put in place here in New Zealand became the blueprint for the organization around the world. He has an enviable track record of integrity and professionalism and wide ranging business experience. Its an intimate touch with the P&L; the weeklies tell us lot. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. Don Braid (Mainfreight) Credit: Mainfreight . 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. Mainfreight managing director Don Braid. Braid consistently delivers for shareholders and stakeholders alike. Mainfreight half year net profit lifts 79 per cent despite supply chain Musk Made a Mess at Twitter. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. [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. CEO compensation can have a massive impact on performance, but it's just one element. Mainfreight Half Year Financial Results 30 September 2021 - NZX You know, people arrive when they arrive and they leave when they leave. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. Mainfreight declares flat dividend, hands back $11m wage subsidy 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. 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. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Mainfreight - Wikipedia Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. He brings strong financial skills and business acumen to the role. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. | At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. 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. The company is growing EPS and total shareholder returns have been pleasing. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. Don: Im not sure its stress. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Its great fun. Don: It should be where your skills are. 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. 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. 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. And I think ultimately, yes, Im responsible for the business, but I enjoy what I do and having great people and a good lifestyle where I can stay fit and have some fun means the stress levels arent that high. I just have a belief and determination that weve got a pretty good business here. Its having empathy and I think Im patient, determined, have belief and energy. 11/5/2022 3:33 PM. For me its being in the business, with people and in particular with customers. Email. Read More . Nothing drives home the state of our roads like a trip on a bike. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Will be fundamentally different from the last one. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Don Braid. 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. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. 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. Theres no cross subsidies. By the way, its not just about us seeing those numbers. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. 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. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. 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. 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