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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Your email address will not be published. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Its having empathy and I think Im patient, determined, have belief and energy. 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 New Zealand and internationally. Learn more. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Were thinking about being around for a hundred years. Hamish. You can follow him on Twitter, New tourism plan sidesteps immigration elephant, Mortgage arrears up as rates start to bite, Investors queue up ahead of Du Val liquidity events, Affordable housing levy sparks fear and loathing in Queenstown. 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. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Email. Id also be really focused on being in touch with customers. Rob Fyfe Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Weve made this article available for free. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. In light of current trends, we will provide a nine-month trading update mid-February 2022. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. What do those customers look for from us? He is an outstandingly consistent and capable chief executive. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. 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. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . 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. 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As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. 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. Concerned about the content? 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. Don Braid (Mainfreight) Credit: Mainfreight . The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. 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. 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. 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. 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]. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. I dont believe that. 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. And thats that. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. 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. 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. Richard Prebble is by profession a lawyer. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Indonesia ups trade potential with focus on corporate governance, NZ business needs to invest more in reputation, NZ corporates taking a lead in health & safety. 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. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. The price of the rights fell as low as 7.5 cents on the last day of trading. Don from Mainfreight talks to Fisher Funds. So everything that we do is about being here for a long time. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Not living as a question mark but instead getting on with it and making those decisions. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. Chosen from New Zealand's top companies, this year's Deloitte . 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. The Biosecurity Business Pledge group has launched two new biosecurity guides. At the end of the day, the decisions they made will be seen in the weekly results. 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. See guidance for chairs and directors. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Whilst describing the foundation of Mainfreight in 2000, Plested said to the New Zealand Herald, "We moved all our freight by sea between Auckland, and Christchurch and Dunedin, and we worked weekend shifts to make sure we loaded and unloaded the ship using the whole of the seven days - we found that was faster and more reliable than our big competitors."[4]. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. I just have a belief and determination that weve got a pretty good business here. Group Managing Director, Mainfreight. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. 11/5/2022 3:33 PM. 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". With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. National's three waters policy is only cosmetically distinct from Labour's. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. 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. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. 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. | 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. And if you dont make a profit, theres no bonus that year. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? JUDGES COMMENTS 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. Alternatively, email editorial-team@simplywallst.com. Everyone stands on their own two feet. "I probably wasn't qualified enough to go to university," Braid says. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. don@mainfreight.com; Profile. | 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. What we put in place here in New Zealand became the blueprint for the organization around the world. 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Since the acquisition of the Wim Bosman Group the eurozone has spiralled to the brink of economic disaster, but 52-year-old Braid says doing business on the debt-ravaged continent is nothing other than an "exciting" prospect. "He never talks about himself and always talks about long-term goals," Hunt says. [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Where should we open next? I think our owner drivers are a key component of the relationship with the customer. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Mainfreight's net profit rose by $40.1m to $188.1m. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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. Musk Made a Mess at Twitter. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? 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. Don Braid. 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. 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. 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. Don Braid 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? In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. 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. Shareholders would be glad to know that the company has improved itself over the last few years. 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. Zac: How do you prioritise where to spend your time in a normal week? 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. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. 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. 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. 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. The key for me is to be in the business as much as possible, to be visible. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. And I suppose the key thing that we had in our mind was how are we going to run this business to survive and not make anybody redundant. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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). On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. Will be fundamentally different from the last one. [3] [4] When the company was founded it entered a highly regulated transport market. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. How do I gain more customers? The company posted record earnings and revenue for its last full year and has continued to break records this financial year. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. 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. How do you measure this? Do also serves as a member of the Board of the Starship foundation. See the full transcript below. [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. We're trying to break all that down.". Nothing drives home the state of our roads like a trip on a bike. What are the things you do that maybe others dont do that actually make you lead this organization? Thanks for your comments about Don Braid and Mainfreight. 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. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. It is totally how I believe a company should be and I love how everyone starts at the bottom. And then its about exploring the long game. Thanks Mr Braid for sharing your knowledge and insight. Contact. Don: Um, I think its recognising good people. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Youve got to break it down. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. 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He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. 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. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport. Don: Well, the numbers never lie, right? BusinessDesk has a paywall for most of its content. Chief executive, Kiwibank 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. While there was someone in the drivers seat, the computer took over the vehicle. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? I'm pleased I didn't do anything else.". Braid consistently delivers for shareholders and stakeholders alike. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Click on [Agree] or [Disagree] to accept or refuse cookies. Our subscriptions start at $24 / month for individuals. Check out our latest analysis for Mainfreight. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. 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 Don: The recruitment of our people sits with the branch managers. We offer lots of training as well, internally and externally. Wishing you the best in England and when you return to NZ. "I don't think any of those things are really of interest to this," he says. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Biography It now has 22 company depots in Australia and relies on agents and third parties in the Northern Territory, Tasmania and some of regional Australia.
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