don braid mainfreight net worth

That's ambitious, even . 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. Agreement with print tech giant Canon saves college thousands. Email. Get in touch with us directly. Not living as a question mark but instead getting on with it and making those decisions. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Privacy policy See guidance for chairs and directors. 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. d***@mainfreight.com. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Group Managing Director, Mainfreight. Don: The recruitment of our people sits with the branch managers. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Other Current Directorships: For us its about pushing the decision-making as close to the customer as possible, getting those people to make decisions rather than pushing them upstairs for someone else to make. "I just think that's disgusting," he says. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. 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. His father was a truck driver, but he says that didn't influence his career decisions. Experts say community investment is the future. The relationships we develop, both with suppliers and with customers, are there for the long term. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Required fields are marked *. 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. 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. Hes the right man for the job at just the right time. 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. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. 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. Don: For us, its not about the short game, its about the long game. 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. Nothing drives home the state of our roads like a trip on a bike. 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. 11/5/2022 3:33 PM. | "You need some energy and you need to be on the front foot," he says. CEO compensation can have a massive impact on performance, but it's just one element. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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 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. 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. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. In 2008, the United States locations were re-branded as Mainfreight USA. The opportunities offshore and the populations that exist in some of those other countries are large; you only have to get something half right in some of those countries and youre growing a big business compared to what you have here in New Zealand. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. And he should know, having spent his entire working life in the freight industry. Both are real legends and seem to really walk the talk. 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.". What have we got right? At the end of the day, the decisions they made will be seen in the weekly results. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. But, he said, the groups response at the outset of the pandemic had been unequivocal. National's three waters policy is only cosmetically distinct from Labour's. Id also be really focused on being in touch with customers. We're trying to break all that down.". 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. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. To join your company account for BusinessDesk and enjoy full access, I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. JUDGES COMMENTS 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. Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. 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. The price of the rights fell as low as 7.5 cents on the last day of trading. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Cash flow is essential for any business survival. Don: Im not sure its stress. The key for me is to be in the business as much as possible, to be visible. How do you measure this? Shareholders would be glad to know that the company has improved itself over the last few years. 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. Were thinking about being around for a hundred years. FINALIST Youve got to have good outlets. Don Braid. 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. How are we changing the business accordingly? By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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 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. Sam Knowles 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. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? "He implements things very well and you don't have to remind him about anything you're trying to achieve. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. I suppose were grooming people all the time for those loaded leadership roles. So everything that we do is about being here for a long time. Don: Its been interesting! Thanks Mr Braid for sharing your knowledge and insight. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Theres no cross subsidies. See ourstandard terms and conditionsfor more information. Biography Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys' High School and has over 30 years' experience in freight forwarding and logistics both New Zealand and internationally.. [3] [4] When the company was founded it entered a highly regulated transport market. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Don: The culture is really important and our culture starts with those closest to the customer. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Youve got to break it down. 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. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . [4] This operation was expanded with depots in Melbourne and Brisbane. 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. | He brings strong financial skills and business acumen to the role. 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. We use functional and analytical cookies on our website to offer an optimal user experience. Where do we need to be? Zac: How do you prioritise where to spend your time in a normal week? His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Well known for his mental and physical toughness, Braid is often seen working out at The Atrium Club in downtown Auckland, which offers real world fitness for men. His sartorial style was also recognised in 2006 when he was judged the national winner of the NBR Working Style Best Dressed Businessman Awards. 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. 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! Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. Do also serves as a member of the Board of the Starship foundation. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. To trust your people too, to give them the responsibility. 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. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. For more information, please visit our cookie statement. 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]. He owns a 3 per cent stake in the firm, worth about $29 million. 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. WINNER 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. Its great fun. Our subscriptions start at $24 / month for individuals. 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. [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. How Does Don Braid's Compensation Compare With Similar Sized Companies? Should it change? Those people become good leaders early in the piece they might be only leading a couple of people by the time they make branch manager status but they understand the roles of leadership within Mainfreight. 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. Where should we open next? 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. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? So we are developing our people to be the best they possibly can be. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. His company has been a shining example of success amid tough global economic conditions. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Weve got examples of that in our business right now. 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. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. It only represents a small part of our revenue, but . 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. 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. While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? In light of current trends, we will provide a nine-month trading update mid-February 2022. 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. He has an enviable track record of integrity and professionalism and wide ranging business experience. Another attribute is straight talking. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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. By using this website you consent to the use of cookies in accordance with our privacy policy. Don: I get out of the way. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Zac: Don, what makes you good? New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and .

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