Read More . His company has been a shining example of success amid tough global economic conditions. Don Braid What we put in place here in New Zealand became the blueprint for the organization around the world. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. Cash flow is essential for any business survival. "We've been in China for 20 years. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. And he should know, having spent his entire working life in the freight industry. 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. Wishing you the best in England and when you return to NZ. Don: With this event in front of us right now, I think cash is king, and the collection of cash. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. As you get bigger, staff engagement and culture becomes more difficult. 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]. Zac: What is the Mainfreight way when it comes to culture? It only represents a small part of our revenue, but . 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. Will His AI Plans Be Any Different? Required fields are marked *. Rob Fyfe How do you measure this? "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Its having empathy and I think Im patient, determined, have belief and energy. 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. 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. The relationships we develop, both with suppliers and with customers, are there for the long term. If you trust your people, look after them and give them responsibility, theyll deliver. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. This endeavor launched the first permanent investment into South America. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. I learned that early in the piece and I think its stood me in good stead. The Asian business saw profits more than double to US$7m, driven by increases in market share and rate increases from both air and see freight, the firm said. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. [10] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of 8.2 million or $14 million. 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. 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. See guidance for chairs and directors. 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. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney. Group Managing Director, Mainfreight. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Its an intimate touch with the P&L; the weeklies tell us lot. JUDGES COMMENTS
Simply Wall St has no position in any stocks mentioned.Have feedback on this article? And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits.
Mainfreight's $43.9m 'family' bonus | BusinessDesk So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Im not sure well see driverless trucks in NZ for some time to come. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Youve got to have good outlets. Thats the key.
Mainfreight declares flat dividend, hands back $11m wage subsidy Mainfreight founder says bonuses help solve inequality and - Stuff 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 is an outstandingly consistent and capable chief executive. 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 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. 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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. Insurers support an immediate managed retreat for recent flood victims. How Does Don Braid's Compensation Compare With Similar Sized Companies? We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. 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. Zac: How do you prioritise where to spend your time in a normal week? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Alternatively, email editorial-team@simplywallst.com. Mainfreight's straight-talking group managing director has an infectious zest for business. At the end of the day, the decisions they made will be seen in the weekly results. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Who wouldnt want exposure to the retirement sector? Out of that, I think weve got the culture really starting to develop. 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 NBR Working Style Best Dressed Businessman Awards. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. 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. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. Your email address will not be published. But well and behold, were in the perfect position not a lot of debt, trading really well, coming off a really good financial year the year before. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. Save my name, email, and website in this browser for the next time I comment. [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.
Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo Shareholders would be glad to know that the company has improved itself over the last few years. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. "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.". What have we got right? The long-term effects must be carefully studied. Theres no cross subsidies. I dont see this as a job, so therefore the stress levels arent as strong. 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 is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year.
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. So take a peek at this free list of interesting companies. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. 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. Boards have a key role to play in the wake of any crisis. 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. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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.
What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! 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. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Chief executive, Kiwibank "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. And what do you believe leaders need to excel at? Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. 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. 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. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. Will be fundamentally different from the last one. 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. 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 Component 2020 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. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. We offer lots of training as well, internally and externally. For us its about pushing the decision-making as close to the customer as possible, getting those people to make decisions rather than pushing them upstairs for someone else to make. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Hi Tanya.
Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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.
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