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. Your email address will not be published. Don Braid. So what you produce in terms of profitability is real. 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. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. If you trust your people, look after them and give them responsibility, theyll deliver. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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). Wishing you the best in England and when you return to NZ. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. See ourstandard terms and conditionsfor more information. Brent is a senior reporter based in Queenstown. Don Braid. 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. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. Hamish. What are their requirements? [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Don: The culture is really important and our culture starts with those closest to the customer. Should it change? Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. [13] The transaction was completed on 6 June 2007. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. 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. This endeavor launched the first permanent investment into South America. 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? Thanks for your comments about Don Braid and Mainfreight. Lessons from the Managing Director of one of NZ's most successful He has an enviable track record of integrity and professionalism and wide ranging business experience. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Zac: Whats a bit of business advice you can share? 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. We aim to bring you long-term focused analysis driven by fundamental data. The price of the rights fell as low as 7.5 cents on the last day of trading. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Mainfreight's straight-talking group managing director has an infectious zest for business. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. | Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. JUDGES COMMENTS How we can fix New Zealand's ports - Don Braid | BusinessDesk [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. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. I think our owner drivers are a key component of the relationship with the customer. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Experts say community investment is the future. Mainfreight's net profit rose by $40.1m to $188.1m. If were going to build facilities for our people, we build very good facilities to be around for a long time. He is an outstandingly consistent and capable chief executive. Weve made this article available for free. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. Zac: Can you share more about your profit share? 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. Deloitte Top 200 Award Winners Announced for 2019 Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. 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. 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. [3] [4] When the company was founded it entered a highly regulated transport market. Don Braid And what do you believe leaders need to excel at? 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. Of course, you might find a fantastic investment by looking at a different set of stocks. They love this as it makes them feel supported and that I understand their role. 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. 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". 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. 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. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. "It's not about what I've done - it's about what we've done and what the business has done," he says. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. So I think cashflow is king and Id be focused on that. That's just a smallish increase of 6.9% on last year. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. "That gives us an enormous amount of opportunity.". 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. Thats the key. So weve got eight and a half thousand people and 282 locations. [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. Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney. How does that actually work, practically? We offer lots of training as well, internally and externally. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Please note that with cookies disabled you will have a degraded experience with some features. WINNER Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Another attribute is straight talking. 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. Us taking away that clock was about responsibility and about taking away that control from head office. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Read More . 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. [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. Sam Knowles 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. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo 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. Musk Made a Mess at Twitter. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. You know, people arrive when they arrive and they leave when they leave. Rob Fyfe He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. 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. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Concerned about the content? 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Chief executive, Kiwibank The Biosecurity Business Pledge group has launched two new biosecurity guides. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. Is our service or a product still current? And he should know, having spent his entire working life in the freight industry. 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. And thats why we travel a lot when you visit, you can smell the morale in an instant. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. So take a peek at this free list of interesting companies. Its an intimate touch with the P&L; the weeklies tell us lot. Your email address will not be published. So we are developing our people to be the best they possibly can be. Hi Tanya. What else do we need to do to satisfy that bunch of customers? Wed rather own assets than lease them. 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. Its the individuals responsibility to arrive on time and stay until the jobs finished. How Does Don Braid's Compensation Compare With Similar Sized Companies? FINALIST 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. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Its having empathy and I think Im patient, determined, have belief and energy. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom 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. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. How are we changing the business accordingly? I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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What we put in place here in New Zealand became the blueprint for the organization around the world. Get in touch with us directly. Media enquiries So long term, we have a really experienced leadership team. "We've been in China for 20 years. 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. 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. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Early on, New Zealand had great lessons to take to the rest of our network. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Don: It should be where your skills are. | Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. "I just think that's disgusting," he says. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. I suppose were grooming people all the time for those loaded leadership roles. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz But the excitement is justified. 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. Its great fun. Today he chairs a group of telecommunication companies. "He never moans about the currency and is always positive.". 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. His company has been a shining example of success amid tough global economic conditions.