Wed rather own assets than lease them. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Zac: How do you prioritise where to spend your time in a normal week? Boards have a key role to play in the wake of any crisis. Hi Tanya. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Theres no bullshit in the numbers, they are what the business has earned. 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 So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. 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. 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. Everyone stands on their own two feet. Don: The culture is really important and our culture starts with those closest to the customer. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. He brings strong financial skills and business acumen to the role. You can be profitable and not collect the cash and go broke. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Don: Well, the numbers never lie, right? As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Of course, you might find a fantastic investment by looking at a different set of stocks. d***@mainfreight.com. See ourstandard terms and conditionsfor more information. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. We use functional and analytical cookies on our website to offer an optimal user experience. [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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Terms of use Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Youve got to have good outlets. He owns a 3 per cent stake in the firm, worth about $29 million. Required fields are marked *. In the 12 months to March 31, Mainfreight - which has been one of the top performing stocks on the NZX this year - posted record sales of $1.34 billion. Wishing you the best in England and when you return to NZ. 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. He is an outstandingly consistent and capable chief executive. Rob Fyfe The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. 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. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Appointment to Board 2000 - With Mainfreight since 1994. I dont believe that. We're trying to break all that down.". But, he said, the groups response at the outset of the pandemic had been unequivocal. Click on [Agree] or [Disagree] to accept or refuse cookies. 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. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. This article by Simply Wall St is general in nature. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. As you get bigger, staff engagement and culture becomes more difficult. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. [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. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. It only represents a small part of our revenue, but . He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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]. Chosen from New Zealand's top companies, this year's Deloitte . What havent we got right? So a lot is about the long game. | See the full transcript below. FINALIST Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Your email address will not be published. Theres no cross subsidies. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. [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. 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. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Whats changed? "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. And thats why we travel a lot when you visit, you can smell the morale in an instant. Im sure that everyone on this video call will be wanting to shake hands and sit across the table and deal face to face because of the body language thing and being able to ask more questions, whereas the video is quite limiting. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Our data indicates that Mainfreight Limited has a market capitalization of NZ$6.0b, and total annual CEO compensation was reported as NZ$3.0m for the year to March 2020. 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. [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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. 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. 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? 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. So long term, we have a really experienced leadership team. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Where do we need to be? Where should we open next? 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.. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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? "He's sporting and tough and makes decisions quite fast," Plested says. 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. Some people dont want any more responsibility they find their own ceiling and thats fine. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. 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 weve got eight and a half thousand people and 282 locations. 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. 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. 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. National's three waters policy is only cosmetically distinct from Labour's. 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. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. Don: I think its quite a long way off. I just have a belief and determination that weve got a pretty good business here. WINNER Alternatively, email editorial-team@simplywallst.com. 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! Once it became a global pandemic we needed to react and adapt as quickly as we could. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Read More . Watson said she did not believe bonuses were a way. You cant see yourself as an employer of 8500 people. [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. What have we got right? 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. In addition, we use tracking cookies, which can collect information about you and follow your internet activity within our website, and possibly outside our website as well. 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. Zac: Don, what makes you good? I suppose were grooming people all the time for those loaded leadership roles. Don: The recruitment of our people sits with the branch managers. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Zac: Lets talk more about those weekly P&Ls. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Insurers support an immediate managed retreat for recent flood victims. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. The firm's shares have been one of the best performing stocks on the NZX, returning more than. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. FINALIST Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. 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.". Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. 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. 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. The Biosecurity Business Pledge group has launched two new biosecurity guides. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. He knows where the company is going and, more importantly, how it will get there. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. How Does Don Braid's Compensation Compare With Similar Sized Companies? What we put in place here in New Zealand became the blueprint for the organization around the world. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Subscribe to protect quality NZ journalism. Check out our latest analysis for Mainfreight. 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.

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