What we put in place here in New Zealand became the blueprint for the organization around the world. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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. His father was a truck driver, but he says that didn't influence his career decisions. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. I think our owner drivers are a key component of the relationship with the customer. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. 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 I just have a belief and determination that weve got a pretty good business here. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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. Don Braid's Phone Number and Email Last Update. Group Managing Director at Mainfreight NZ . 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. 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. You may withdraw your consent at any time. Don Braid. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. 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. Some of the leading players in the listed retirement sector have been raising capital. 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. 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 Limited is a New Zealand logistics and transport company headquartered in Auckland. 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. 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. Get in touch with us directly. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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. [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. As you get bigger, staff engagement and culture becomes more difficult. 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. In 2008, the United States locations were re-branded as Mainfreight USA. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. So long term, we have a really experienced leadership team. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. "I probably wasn't qualified enough to go to university," Braid says. The Mainfreight board is intent on doubling revenue to $2 billion by 2015, mostly from international earnings, and Mr Braid envisages at least 500 branches before too long. I dont see this as a job, so therefore the stress levels arent as strong. JUDGES COMMENTS We're trying to break all that down.". We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Thanks for your comments about Don Braid and Mainfreight. So take a peek at this free list of interesting companies. [3][4], When the company was founded it entered a highly regulated transport market. Learn more. Early on, New Zealand had great lessons to take to the rest of our network. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Zac: Don, having a decentralized business, whats been your approach to leadership? Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. I'm pleased I didn't do anything else.". As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. [10] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of 8.2 million or $14 million. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. If were going to build facilities for our people, we build very good facilities to be around for a long time. Everyone stands on their own two feet. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. "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.". 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. "If you allow the recession to roll over the top of you there's a great chance it will.". He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. Look after your people and theyll look after the business. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Contact. You know, people arrive when they arrive and they leave when they leave. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. You cant see yourself as an employer of 8500 people. Don: I think empathy is really important. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. [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. 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? Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. And thats that. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Wed rather own assets than lease them. 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. Brent is a senior reporter based in Queenstown. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. Bryan has a wealth of experience, both in executive and board roles. Who wouldnt want exposure to the retirement sector? Today he chairs a group of telecommunication companies. He has an enviable track record of integrity and professionalism and wide ranging business experience. So we are developing our people to be the best they possibly can be. That's ambitious, even . It is totally how I believe a company should be and I love how everyone starts at the bottom. Hi Tanya. So a lot is about the long game. FINALIST Not bad for a Kiwi trucking company! 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. 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. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. So you need to be committed for the long term.The clich about the beach, the BMW and the boat it looks pretty attractive after 10 years of hard work but what could you have created after a hundred years and have you got something thats a bit special?I think you need passion, energy, belief and the ability to develop people to run the business for the future. 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. 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. 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. Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. "It's not about what I've done - it's about what we've done and what the business has done," he says. We offer lots of training as well, internally and externally. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. 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. 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. I really want to be in front of those customers! We aim to bring you long-term focused analysis driven by fundamental data. Musk Made a Mess at Twitter. 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. It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, 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. 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. Concerned about the content? | Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Don: Well, the numbers never lie, right? Watson said she did not believe bonuses were a way. 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. What else do we need to do to satisfy that bunch of customers? 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. But the excitement is justified. Chief executive, Mainfreight Don: With this event in front of us right now, I think cash is king, and the collection of cash. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Richard Prebble is by profession a lawyer. don@mainfreight.com; Profile. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. 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. 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. 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 think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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 subscriptions start at $24 / month for individuals. COVID-19 has had a significant impact on freight and supply chains worldwide. The firm has earned a reputation within the market for being slickly-run. Do also serves as a member of the Board of the Starship foundation. They love this as it makes them feel supported and that I understand their role. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. Check out our latest analysis for Mainfreight. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Weve made this article available for free. 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. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Don: It should be where your skills are. But, he said, the groups response at the outset of the pandemic had been unequivocal. Us taking away that clock was about responsibility and about taking away that control from head office. Thanks Mr Braid for sharing your knowledge and insight. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Id also be really focused on being in touch with customers. His company has been a shining example of success amid tough global economic conditions. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? Save my name, email, and website in this browser for the next time I comment. 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. 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. It has been listed on the New Zealand Exchange since 1996. 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. Weve sort of tucked on the back of some trials in Europe and in the States where they were running in threes and fours behind each other, all connected by a computer. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin.