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While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Us taking away that clock was about responsibility and about taking away that control from head office. Braid consistently delivers for shareholders and stakeholders alike. Musk Made a Mess at Twitter. 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. Appointment to Board 2000 - With Mainfreight since 1994. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Mainfreight's $43.9m 'family' bonus | BusinessDesk Zac: Whats a bit of business advice you can share? And he should know, having spent his entire working life in the freight industry. This endeavor launched the first permanent investment into South America. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. They love this as it makes them feel supported and that I understand their role. Don from Mainfreight talks to Fisher Funds. He has clear vision of what it will take to navigate the unforgiving roads and heavy traffic of the international freight marketplace and so far he has kept this business right on track. The relationships we develop, both with suppliers and with customers, are there for the long term. Its a huge level of success and theres satisfaction you get from that. 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. 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 probably wasn't qualified enough to go to university," Braid says. Don Braid - newzealandinc.com 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. 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. Zac: Don, your 100-year vision how does that work? 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. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Lessons from the Managing Director of one of NZ's most successful Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. See the full transcript below. COVID-19 has had a significant impact on freight and supply chains worldwide. BusinessDesk has a paywall for most of its content. Mainfreight Half Year Financial Results 30 September 2021 - NZX 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. And then its about exploring the long game. In 2008, the United States locations were re-branded as Mainfreight USA. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Mainfreight shareholders would be similarly pleased. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. 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[3][4], When the company was founded it entered a highly regulated transport market. | Group Managing Director at Mainfreight NZ . [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. Hi Tanya. [4] This operation was expanded with depots in Melbourne and Brisbane. Shareholders would be glad to know that the company has improved itself over the last few years. "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.". Save my name, email, and website in this browser for the next time I comment. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. "I just think that's disgusting," he says. Zac: Can you share more about your profit share? "He never talks about himself and always talks about long-term goals," Hunt says. 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? 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. Another attribute is straight talking. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. What havent we got right? That's just a smallish increase of 6.9% on last year. Richard Prebble is by profession a lawyer. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next 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. 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. At the end of the day, the decisions they made will be seen in the weekly results. To join your company account for BusinessDesk and enjoy full access, What we put in place here in New Zealand became the blueprint for the organization around the world. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Hamish. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. 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. 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. 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. Alternatively, email editorial-team@simplywallst.com. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Don: I think empathy is really important. Director Profiles | New Zealand - Mainfreight Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo 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. 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. 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. Mainfreight's net profit rose by $40.1m to $188.1m. Don Braid has been with freight and logistics company Mainfreight since 1994, after joining the firm as part of the acquisition of Daily Freightways (where he had been for 16 years). Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. 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. His company has been a shining example of success amid tough global economic conditions. 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. Were thinking about being around for a hundred years. That was uppermost in our mind. "You need some energy and you need to be on the front foot," he says. I suppose were grooming people all the time for those loaded leadership roles. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Q&A with Mainfreight's Don Braid - Business Changing Business Leader of the Year 2011 Winner: Don Braid - NZ Herald 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. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. The key for me is to be in the business as much as possible, to be visible. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Your email address will not be published. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Its having empathy and I think Im patient, determined, have belief and energy. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. 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. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. That's ambitious, even . Mainfreight boss: China 'understands our value' - NZ Herald In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. 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. I just have a belief and determination that weve got a pretty good business here. How do you measure this? 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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. So I think cashflow is king and Id be focused on that. This article by Simply Wall St is general in nature. 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. 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]. You cant see yourself as an employer of 8500 people. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. By the way, its not just about us seeing those numbers. You know, people arrive when they arrive and they leave when they leave. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. We dont call them staff for us, they are our people or our team. 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. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. I learned that early in the piece and I think its stood me in good stead. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. 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. 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Click on [Agree] or [Disagree] to accept or refuse cookies. It is totally how I believe a company should be and I love how everyone starts at the bottom. Will be fundamentally different from the last one. Mainfreight founder says bonuses help solve inequality and - Stuff Don Braid (Mainfreight) Credit: Mainfreight . Read More . Don: With this event in front of us right now, I think cash is king, and the collection of cash. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. National's three waters policy is only cosmetically distinct from Labour's. 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. 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. 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. The long-term effects must be carefully studied. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m.