Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. Don Braid. And then its about exploring the long game. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. Zac: Don, your 100-year vision how does that work? I dont see this as a job, so therefore the stress levels arent as strong. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . But the excitement is justified. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. We're trying to break all that down.". The relationships we develop, both with suppliers and with customers, are there for the long term. Thanks for your comments about Don Braid and Mainfreight. 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". 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. BusinessDesk has a paywall for most of its content. Of course, you might find a fantastic investment by looking at a different set of stocks. Not bad for a Kiwi trucking company! "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". We dont call them staff for us, they are our people or our team. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Boards have a key role to play in the wake of any crisis. The key for me is to be in the business as much as possible, to be visible. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Zac: Can you share more about your profit share? In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Concerned about the content? I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 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. Do also serves as a member of the Board of the Starship foundation. 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. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? What else do we need to do to satisfy that bunch of customers? What havent we got right? Mainfreight's net profit rose by $40.1m to $188.1m. 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. FINALIST 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. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. How do you measure this? What are the things you do that maybe others dont do that actually make you lead this organization? 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. So the weekly P&L puts them on the spot. 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. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! 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). Zac: Can you share what some of the great ideas youve actually brought from overseas have been? 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. Privacy policy Zac: How do you prioritise where to spend your time in a normal week? 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. Engage via Email. You know, people arrive when they arrive and they leave when they leave. I learned that early in the piece and I think its stood me in good stead. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. 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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. Don Braid's Phone Number and Email Last Update. Appointment to Board 2000 - With Mainfreight since 1994. As a young salesperson aged 19, I couldnt make a cold call. Mainfreight completes huge software roll-out, spanning A/NZ, US and Its an intimate touch with the P&L; the weeklies tell us lot. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. 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. Don Braid (Mainfreight) Credit: Mainfreight . Mainfreight Half Year Financial Results 30 September 2021 - NZX Today he chairs a group of telecommunication companies. This endeavor launched the first permanent investment into South America. Weve got examples of that in our business right now. 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). [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Cash flow is essential for any business survival. Other Current Directorships: With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. So everything that we do is about being here for a long time. That's ambitious, even . 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. Group Managing Director, Mainfreight. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Don: The culture is really important and our culture starts with those closest to the customer. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Hamish. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. Don Braid 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. Business Leader of the Year 2011 Winner: Don Braid - NZ Herald 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. Chosen from New Zealand's top companies, this year's Deloitte . Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. In the decade Braid has spent at its helm, the company has become a global logistics player with operations on every populated continent apart from Africa. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. In 1994 Mainfreight purchased the business, and Don went on to hold various senior management roles at Mainfreight prior to his appointment as Managing Director in 2000. 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.