But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". And thats that. The firm has earned a reputation within the market for being slickly-run. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). You can be profitable and not collect the cash and go broke. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. So we are developing our people to be the best they possibly can be. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. What have we got right? 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. 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. 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). Whats changed? Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our 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 from Mainfreight talks to Fisher Funds. Zac: Don, having a decentralized business, whats been your approach to leadership? Subscribe to protect quality NZ journalism. 11/5/2022 3:33 PM. 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. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. So a lot is about the long game. Component 2020 Mainfreight's straight-talking group managing director has an infectious zest for business. Don Braid's Phone Number and Email Last Update. Don: For us, its not about the short game, its about the long game. 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. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. 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. FINALIST Read More . So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. We're trying to break all that down.". "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. I really want to be in front of those customers! "He implements things very well and you don't have to remind him about anything you're trying to achieve. [13] The transaction was completed on 6 June 2007. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. Hamish. Mainfreight's net profit rose by $40.1m to $188.1m. People thrive on being given responsibility. He brings strong financial skills and business acumen to the role. 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. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Don: With this event in front of us right now, I think cash is king, and the collection of cash. 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. He owns a 3 per cent stake in the firm, worth about $29 million. 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. Don: Its been interesting! Sam Knowles 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. 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. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Don Braid - newzealandinc.com I think our owner drivers are a key component of the relationship with the customer. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Group Managing Director at Mainfreight NZ . We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Media enquiries While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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. I just have a belief and determination that weve got a pretty good business here. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Concerned about the content? To join your company account for BusinessDesk and enjoy full access, 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. 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. Weve got examples of that in our business right now. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. How we can fix New Zealand's ports - Don Braid | BusinessDesk The firm's shares have been one of the best performing stocks on the NZX, returning more than. Theres no cross subsidies. Its having empathy and I think Im patient, determined, have belief and energy. Business Leader of the Year 2011 Winner: Don Braid - NZ Herald What do those customers look for from us? Everyone stands on their own two feet. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. 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. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. What are the things you do that maybe others dont do that actually make you lead this organization? Were thinking about being around for a hundred years. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. For me its being in the business, with people and in particular with customers. By using this website you consent to the use of cookies in accordance with our privacy policy. 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. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. This endeavor launched the first permanent investment into South America. enter your email and well send you details. Engage via Email. So weve got eight and a half thousand people and 282 locations. 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. 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). Will His AI Plans Be Any Different? Out of that, I think weve got the culture really starting to develop. 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. So what you produce in terms of profitability is real. Terms of use 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. 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. 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. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. 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. 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. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Don: I think its quite a long way off. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. Thanks for your comments about Don Braid and Mainfreight. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Do also serves as a member of the Board of the Starship foundation. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. If you trust your people, look after them and give them responsibility, theyll deliver. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. Don: The culture is really important and our culture starts with those closest to the customer. JUDGES COMMENTS Zac: Can you share more about your profit share? 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. 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. Not bad for a Kiwi trucking company! 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Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? [14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. 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 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. 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. Another attribute is straight talking. Thanks Mr Braid for sharing your knowledge and insight. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom BusinessDesk has a paywall for most of its content. The Biosecurity Business Pledge group has launched two new biosecurity guides. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Don Braid. We aim to bring you long-term focused analysis driven by fundamental data. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. The long-term effects must be carefully studied. [4] This operation was expanded with depots in Melbourne and Brisbane. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. And then its about exploring the long game. 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. 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. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. 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. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Privacy policy So I think cashflow is king and Id be focused on that. Mainfreight managing director Don Braid. | Click on [Agree] or [Disagree] to accept or refuse cookies. Get in touch with us directly. 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. Wed rather own assets than lease them. That's ambitious, even . He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? BRAID, Don - NBR | The Authority since 1970 Mainfreight's $43.9m 'family' bonus | BusinessDesk "That gives us an enormous amount of opportunity.". We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Photo / Supplied . The relationships we develop, both with suppliers and with customers, are there for the long term. 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. Theres no bullshit in the numbers, they are what the business has earned. "I just think that's disgusting," he says. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Mainfreight - Wikipedia As you get bigger, staff engagement and culture becomes more difficult. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. | 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. Required fields are marked *. 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Well in Europe they had these time clocks. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision.
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