"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.". Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. He is an outstandingly consistent and capable chief executive. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Watson said she did not believe bonuses were a way. You cant see yourself as an employer of 8500 people. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. "If you allow the recession to roll over the top of you there's a great chance it will.". So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. For more information, please visit our cookie statement. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Richard Prebble is by profession a lawyer. Out of that, I think weve got the culture really starting to develop. Don: Theres been lots of things actually, like electric forklifts, the use of solar power Heres a good example: in New Zealand weve never had time clocks. Its an intimate touch with the P&L; the weeklies tell us lot. Kiwis know the firm largely through its blue trucks that ply our highways, but the company also utilises sea, train and air freight to transport goods around the world. BusinessDesk has a paywall for most of its content. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. They love this as it makes them feel supported and that I understand their role. 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. 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. 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. Engage via Email. 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. Don: I think empathy is really important. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. 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. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. And he should know, having spent his entire working life in the freight industry. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. Its revenue is up 5.9% over the last year. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. We offer lots of training as well, internally and externally. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. To join your company account for BusinessDesk and enjoy full access, We're trying to break all that down.". Terms of use 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. Chief executive, Kiwibank Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Theres no bullshit in the numbers, they are what the business has earned. Rob Fyfe "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. CEO compensation can have a massive impact on performance, but it's just one element. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. "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. It has been listed on the New Zealand Exchange since 1996. 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. "I just think that's disgusting," he says. 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. 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. You need to have been there 12 months to earn the full bonus that everybody else gets. "That gives us an enormous amount of opportunity.". 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. 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. Agreement with print tech giant Canon saves college thousands. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Email. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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 This endeavor launched the first permanent investment into South America. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. 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. Educated at Timaru Boys High School, Braid has been described as possibly the most self-effacing leader of major listed company in New Zealand and is widely regarded as straight-talking and strong leader. Zac: How do you prioritise where to spend your time in a normal week? 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. A table of ten booking is available for $1000.00, subject to availability at the time of booking. And thats why we travel a lot when you visit, you can smell the morale in an instant. We aim to bring you long-term focused analysis driven by fundamental data. 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 natural protection for earnings. 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. Mainfreight shareholders would be similarly pleased. 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. Click on [Agree] or [Disagree] to accept or refuse cookies. Zac: Don, your 100-year vision how does that work? Zac: What is the Mainfreight way when it comes to culture? 5 November 2019 - Mainfreight's Don Braid has reinforced his reputation as one of New Zealand's most successful executives, being named Executive of the Decade at the 2019 Deloitte Top 200 Awards in Auckland tonight (5 December 2019).Mainfreight was also named Company of the Year, sponsored by Deloitte Digital and Marsh. 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. Don from Mainfreight talks to Fisher Funds. His father was a truck driver, but he says that didn't influence his career decisions. 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. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . As you get bigger, staff engagement and culture becomes more difficult. Don Braid (Mainfreight) Credit: Mainfreight . | Weve got examples of that in our business right now. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. I dont believe that. Don Braid. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Subscribe to protect quality NZ journalism. That's ambitious, even . We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Brent is a senior reporter based in Queenstown. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Look after your people and theyll look after the business. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Zac: Don, what makes you good? We use functional and analytical cookies on our website to offer an optimal user experience.
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