It only represents a small part of our revenue, but . We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a 'maximum' of three to avoid being side-lined by major shippers.The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. And he should know, having spent his entire working life in the freight industry. Zac: Don, if you owned your own SME business at the moment, what would you be focusing on going forward to be as successful as you could be under this environment? [13] The transaction was completed on 6 June 2007. Don Braid. 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. 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. 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). "I probably wasn't qualified enough to go to university," Braid says. 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. Get in touch with us directly. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. 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. Privacy policy Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. 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. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. 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. Today he chairs a group of telecommunication companies. 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. Thats the key. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". don@mainfreight.com; Profile. And if you dont make a profit, theres no bonus that year. 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. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. "I don't think any of those things are really of interest to this," he says. 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. Don: The culture is really important and our culture starts with those closest to the customer. Agreement with print tech giant Canon saves college thousands. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. 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. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. 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. 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, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. 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With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Initially wed take 10% of that profit and share it equally with everybody in the branch but as weve developed and gotten a little more sophisticated, weve applied quality stats to the numbers. Don: Its been interesting! [3] [4] When the company was founded it entered a highly regulated transport market. 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. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". So you need to make sure youve got succession planning to be able to work on the dream that youre creating. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. Wishing you the best in England and when you return to NZ. Don: I get out of the way. Its having empathy and I think Im patient, determined, have belief and energy. Don Braid's Phone Number and Email Last Update. They love this as it makes them feel supported and that I understand their role. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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.. Theres no bullshit in the numbers, they are what the business has earned. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. You need to have been there 12 months to earn the full bonus that everybody else gets. Mainfreight - Wikipedia His father was a truck driver, but he says that didn't influence his career decisions. 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. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. 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. The firms European business where it has a footprint of more than 330,000 sqm of warehousing saw a 23.4% improvement in profit before tax to 22.35m, despite extensive lockdowns across the continent, many of which were ongoing. Thanks for your comments about Don Braid and Mainfreight. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. See the full transcript below. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. He brings strong financial skills and business acumen to the role. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. National's three waters policy is only cosmetically distinct from Labour's. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Weve got examples of that in our business right now. So each person can earn some more money by not just making profit, but keeping customers happy, keeping claims to a lower amount, making sure were collecting cash, making sure that were delivering freight in full and on time but the base bonus, everybody gets the same amount no matter whether youve been there for one year or for 40 years and no matter what your position is. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. Read More . What are their requirements? Don from Mainfreight talks to Fisher Funds. That's ambitious, even . "You need some energy and you need to be on the front foot," he says. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. 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.".
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