He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. 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. Don: Um, I think its recognising good people. We aim to bring you long-term focused analysis driven by fundamental data. 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. Concerned about the content? In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. 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 delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Forsyth Barr analyst Rob Mercer said the market had confidence in Mainfreight after it managed to grow revenue and market share and outperform its peers during the global financial crisis. So a lot is about the long game. So long term, we have a really experienced leadership team. 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. Its great fun. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. [3][4], When the company was founded it entered a highly regulated transport market. Mainfreight founder says bonuses help solve inequality and - Stuff We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Alternatively, email editorial-team@simplywallst.com. FINALIST 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. Mainfreight boss: China 'understands our value' - NZ Herald 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. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Don Braid. And sometimes, particularly so in New Zealand, they see the market ultimately being as quite small, when in fact their product or service is good enough to take to the world. Don: The recruitment of our people sits with the branch managers. 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. Brent is a senior reporter based in Queenstown. 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 Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Wishing you the best in England and when you return to NZ. 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. 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. The relationships we develop, both with suppliers and with customers, are there for the long term. Weve sort of tucked on the back of some trials in Europe and in the States where they were running in threes and fours behind each other, all connected by a computer. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Mainfreight half year net profit lifts 79 per cent despite supply chain But they had different regulations for different countries: it was a metre between the two trucks, it was a metre and half in Belgium, and it was two meters in France. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. He attributed the. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. He has an enviable track record of integrity and professionalism and wide ranging business experience. Chosen from New Zealand's top companies, this year's Deloitte . 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 Save my name, email, and website in this browser for the next time I comment. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Biography 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.. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. It only represents a small part of our revenue, but . Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. 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. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Don: Im not sure its stress. 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 we put in place here in New Zealand became the blueprint for the organization around the world. 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. As a young salesperson aged 19, I couldnt make a cold call. 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. 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. Today he chairs a group of telecommunication companies. 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]. 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). So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. Im not sure well see driverless trucks in NZ for some time to come. Should it change? 11/5/2022 3:33 PM. Email. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. We dont call them staff for us, they are our people or our team. If were going to build facilities for our people, we build very good facilities to be around for a long time. That's just a smallish increase of 6.9% on last year. By the way, its not just about us seeing those numbers. d***@mainfreight.com. Subscribe, 0.1 The Four Pillars of Governance Best Practice, 0.3 Corporate governance landscape in New Zealand, The second pillar - An effective governance culture, 2.3 Board architecture a charter for the board, 2.4 Board composition and succession planning, 2.5 Key competencies for non-executive directors, 3.6 Technology and information governance, 3.11 Employees holding external directorships, 4.4 Director shareholdings and insider trading, 4.16 The company secretary or corporate officer, Breakfast with Don Braid, Managing Director of Mainfreight Ltd. "I probably wasn't qualified enough to go to university," Braid says. Group Managing Director at Mainfreight NZ . Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Who wouldnt want exposure to the retirement sector? Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets And if you dont make a profit, theres no bonus that year. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. 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. 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. Required fields are marked *. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. Zac: Can you share more about your profit share? 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. "If you allow the recession to roll over the top of you there's a great chance it will.". Zac: Don, having a decentralized business, whats been your approach to leadership? This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. 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. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. 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. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Look after your people and theyll look after the business. Zac: Lets talk more about those weekly P&Ls. What are the things you do that maybe others dont do that actually make you lead this organization? In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). Thanks for your comments about Don Braid and Mainfreight. 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. Privacy policy This endeavor launched the first permanent investment into South America. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Shareholders would be glad to know that the company has improved itself over the last few years. Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. I will definitely be following the Mainfreight progress closely for when I return to NZ. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. The price of the rights fell as low as 7.5 cents on the last day of trading. Appointment to Board 2000 - With Mainfreight since 1994. 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 learned that early in the piece and I think its stood me in good stead. Of course, you might find a fantastic investment by looking at a different set of stocks. [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. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Don: It should be where your skills are. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. Some of the leading players in the listed retirement sector have been raising capital. And I think ultimately, yes, Im responsible for the business, but I enjoy what I do and having great people and a good lifestyle where I can stay fit and have some fun means the stress levels arent that high. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. 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. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. 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. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. As you get bigger, staff engagement and culture becomes more difficult. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Zac: Whats a bit of business advice you can share? Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid Id also be really focused on being in touch with customers. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. The key for me is to be in the business as much as possible, to be visible. Another attribute is straight talking. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Your email address will not be published. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Not bad for a Kiwi trucking company! Don: For us, its not about the short game, its about the long game. For me its being in the business, with people and in particular with customers. Musk Made a Mess at Twitter. Its a huge level of success and theres satisfaction you get from that. And what do you believe leaders need to excel at? That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Contact. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Director Profiles - Mainfreight

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