For more information, please visit our cookie statement. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. 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. Chief executive, Kiwibank 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. 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. Don: The culture is really important and our culture starts with those closest to the customer. Email. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. Not bad for a Kiwi trucking company! Whats changed? People thrive on being given responsibility. Some of the leading players in the listed retirement sector have been raising capital. National's three waters policy is only cosmetically distinct from Labour's. What we put in place here in New Zealand became the blueprint for the organization around the world. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. He is an outstandingly consistent and capable chief executive. And thats that. Its the individuals responsibility to arrive on time and stay until the jobs finished. [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. 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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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . Where do we need to be? After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Early on, New Zealand had great lessons to take to the rest of our network. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. 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. Lessons from the Managing Director of one of NZ's most successful "He never talks about himself and always talks about long-term goals," Hunt says. Theres no cross subsidies. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Not living as a question mark but instead getting on with it and making those decisions. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Theres no bullshit in the numbers, they are what the business has earned. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Who wouldnt want exposure to the retirement sector? I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. 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. Its a huge level of success and theres satisfaction you get from that. Mainfreight founder says bonuses help solve inequality and - Stuff When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. 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. 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Don: Well, the numbers never lie, right? Both are real legends and seem to really walk the talk. 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. 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. I suppose were grooming people all the time for those loaded leadership roles. 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. For me its being in the business, with people and in particular with customers. 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. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. 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. "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. 11/5/2022 3:33 PM. 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. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. They know that now and can alter those decisions as they head into the week in front of them. 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. Zac: Don, if you owned your own SME business at the moment, what would you be focusing on going forward to be as successful as you could be under this environment? Hes the right man for the job at just the right time. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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 Thats the key. To trust your people too, to give them the responsibility. Its revenue is up 5.9% over the last year. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. You can be profitable and not collect the cash and go broke. 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. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. To join your company account for BusinessDesk and enjoy full access, Do also serves as a member of the Board of the Starship foundation. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets The price of the rights fell as low as 7.5 cents on the last day of trading. 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. [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. How do I gain more customers? How do you maintain a positive culture and a time of crisis? You need to have been there 12 months to earn the full bonus that everybody else gets. 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Regionally, the NZ business saw an increase of 11.5% in profit before tax to $97.8m, though supply chain capacity into and from NZ remains congested, and the company is frustrated with international shipping lines". Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. [13] The transaction was completed on 6 June 2007. CEO compensation can have a massive impact on performance, but it's just one element. 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. Mainfreight declares flat dividend, hands back $11m wage subsidy 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. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. I'm pleased I didn't do anything else.". See ourstandard terms and conditionsfor more information. 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. 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. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. As a young salesperson aged 19, I couldnt make a cold call. So everything that we do is about being here for a long time. Wishing you the best in England and when you return to NZ. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. In 2008, the United States locations were re-branded as Mainfreight USA. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. His father was a truck driver, but he says that didn't influence his career decisions. Once it became a global pandemic we needed to react and adapt as quickly as we could. Zac: Can you share more about your profit share? Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Mainfreight shareholders would be similarly pleased. Where should we open next? So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? 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. Insurers support an immediate managed retreat for recent flood victims. 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. Chosen from New Zealand's top companies, this year's Deloitte . Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. 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. 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. Nothing drives home the state of our roads like a trip on a bike. Alternatively, email editorial-team@simplywallst.com. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. This article by Simply Wall St is general in nature. What are their requirements? In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. JUDGES COMMENTS So we are developing our people to be the best they possibly can be. Don Braid's Phone Number and Email Last Update. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. 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. As you get bigger, staff engagement and culture becomes more difficult. 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. He is 100 percent dedicated to Mainfreight and its future and has led the company in consolidating its position as an international business, progress which will bring rewards not only for that company but for New Zealand as it continues to expand offshore.