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. How do you measure this? Mainfreight people, he says, don't "live in question marks". Email. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Don: I think empathy is really important. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. I dont see this as a job, so therefore the stress levels arent as strong. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. d***@mainfreight.com. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. I dont believe that. 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Chosen from New Zealand's top companies, this year's Deloitte . Wed rather own assets than lease them. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Please note that with cookies disabled you will have a degraded experience with some features. 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Mainfreight boss: China 'understands our value' - NZ Herald Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Check out our latest analysis for Mainfreight. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. I might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. 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. [3] [4] When the company was founded it entered a highly regulated transport market. 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 Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? He brings strong financial skills and business acumen to the role. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. 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. 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. 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 applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. His intellect and pragmatic approach is highly regarded at the Board table. 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. The key for me is to be in the business as much as possible, to be visible. So a lot is about the long game. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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). 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. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. By the way, its not just about us seeing those numbers. 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. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Some people dont want any more responsibility they find their own ceiling and thats fine. You cant see yourself as an employer of 8500 people. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Brent is a senior reporter based in Queenstown. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. Don: With this event in front of us right now, I think cash is king, and the collection of cash. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Agreement with print tech giant Canon saves college thousands. Top 200 : Deloitte/Management magazine Executive of the Year Don Braid 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. I suppose were grooming people all the time for those loaded leadership roles. Zac: Don, having a decentralized business, whats been your approach to leadership? I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. Thats the key. Should it change? His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. 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. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Zac: What is the Mainfreight way when it comes to culture? I just have a belief and determination that weve got a pretty good business here. 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. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Mainfreight's straight-talking group managing director has an infectious zest for business. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. 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. 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. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. If theyre not on their game, you can see that really quickly so you either get alongside them and help them or if it goes on for too long you realise weve got the wrong person in the wrong role and weve got to change them. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Its the individuals responsibility to arrive on time and stay until the jobs finished. Both are real legends and seem to really walk the talk. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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. Bryan has a wealth of experience, both in executive and board roles. Weve made this article available for free. You know, people arrive when they arrive and they leave when they leave. For more information, please visit our cookie statement. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? If you trust your people, look after them and give them responsibility, theyll deliver. Weve needed to adjust, particularly in the international sector, air freight charters rather than just normal air freight our people had never had any experience in chartering a full plane. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Will His AI Plans Be Any Different? So what you produce in terms of profitability is real. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. He's got plenty of charm if he wants to have it and his leadership skills just stand out - people want to stand next to him.". I really want to be in front of those customers! Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. "He's sporting and tough and makes decisions quite fast," Plested 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. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Rob Fyfe JUDGES COMMENTS Previously, Don was a Political Columnist at Calgary Herald. [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. That's just a smallish increase of 6.9% on last year. Our subscriptions start at $24 / month for individuals. 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. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? His company has been a shining example of success amid tough global economic conditions. "I just think that's disgusting," he says. 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. Theres no cross subsidies. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. 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. How does that actually work, practically? As you get bigger, staff engagement and culture becomes more difficult. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. Learn more. Everyone stands on their own two feet. 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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Don Braid (Mainfreight) Credit: Mainfreight . "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. He attributed the. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. "He never moans about the currency and is always positive.". Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. Out of that, I think weve got the culture really starting to develop. 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. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Where do we need to be? 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 company is growing EPS and total shareholder returns have been pleasing. 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. What else do we need to do to satisfy that bunch of customers? 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. "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.". "I don't think any of those things are really of interest to this," he says. Don: For us, its not about the short game, its about the long game. As an example, we know what money weve made or lost last week in every single one of those 282 branches as of about half an hour ago. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. So everything that we do is about being here for a long time. 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). 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. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. They know that now and can alter those decisions as they head into the week in front of them. 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. [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. Concerned about the content? Subscribe to protect quality NZ journalism. See the full transcript below. Early on, New Zealand had great lessons to take to the rest of our network. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. 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. 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. 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. Not living as a question mark but instead getting on with it and making those decisions. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. | I could not get out of the car and go and meet a stranger to ask for the business and now I actually prefer to do that! 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]. "I probably wasn't qualified enough to go to university," Braid says. Mainfreight - Wikipedia In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). What are the things you do that maybe others dont do that actually make you lead this organization? The firm has earned a reputation within the market for being slickly-run. 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. They love this as it makes them feel supported and that I understand their role. 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. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, What Do You Want to See in a Covid Memorial? Don: Um, I think its recognising good people. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Your email address will not be published. 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. 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. 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. 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. What are their requirements? So weve got eight and a half thousand people and 282 locations. Don: The culture is really important and our culture starts with those closest to the customer. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. The relationships we develop, both with suppliers and with customers, are there for the long term. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? CEO compensation can have a massive impact on performance, but it's just one element. Mainfreights two new build warehouses, a 50,000 square metre facility in Sydney and 30,000sqm build in Melbourne, are scheduled for completion by end next year.