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. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. BRAID, Don - NBR | The Authority since 1970 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 If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. "He implements things very well and you don't have to remind him about anything you're trying to achieve. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. 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. [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. Indonesia ups trade potential with focus on corporate governance, NZ business needs to invest more in reputation, NZ corporates taking a lead in health & safety. Email. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Thats the key. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. 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. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Privacy policy That's just a smallish increase of 6.9% on last year. Hi Tanya. Zac: Don, what makes you good? 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. Theres no bullshit in the numbers, they are what the business has earned. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Don: Um, I think its recognising good people. He owns a 3 per cent stake in the firm, worth about $29 million. 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? "I probably wasn't qualified enough to go to university," Braid says. In the decade Braid has spent at its helm, the company has become a global logistics player with operations on every populated continent apart from Africa. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. And if you dont make a profit, theres no bonus that year. [3] [4] When the company was founded it entered a highly regulated transport market. Im not sure well see driverless trucks in NZ for some time to come. 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. Zac: Don, your 100-year vision how does that work? What are the things you do that maybe others dont do that actually make you lead this organization? 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 has been listed on the New Zealand Exchange since 1996. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Us taking away that clock was about responsibility and about taking away that control from head office. Thanks for your comments about Don Braid and Mainfreight. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Don Braid (Mainfreight) Credit: 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. How do you measure this? So youre not only giving them a responsibility for the P&L, but youre also giving them the responsibility of whos going to join our family. [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. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. How are we changing the business accordingly? Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. 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. Out of that, I think weve got the culture really starting to develop. 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. 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! For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. What else do we need to do to satisfy that bunch of customers? Mainfreight's straight-talking group managing director has an infectious zest for business. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. See guidance for chairs and directors. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. Other Current Directorships: Component 2020 Rob Fyfe Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Media enquiries 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. 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. "I just think that's disgusting," he says. 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). Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. 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. Zac: Can you share more about your profit share? Group Managing Director, Mainfreight. Today he chairs a group of telecommunication companies. "He's sporting and tough and makes decisions quite fast," Plested says. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. 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. 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. Please note that with cookies disabled you will have a degraded experience with some features. 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 NewZealand and internationally. But they had different regulations for different countries: it was a metre between the two trucks, it was a metre and half in Belgium, and it was two meters in France. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. He has clear vision of what it will take to navigate the unforgiving roads and heavy traffic of the international freight marketplace and so far he has kept this business right on track. His company has been a shining example of success amid tough global economic conditions. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). He knows where the company is going and, more importantly, how it will get there. Thanks Mr Braid for sharing your knowledge and insight. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. 11/5/2022 3:33 PM. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. 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. Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. The company is growing EPS and total shareholder returns have been pleasing. 'Ready, fire, aim' is Mainfreight man's mantra | Stuff.co.nz Cash flow is essential for any business survival. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Its an intimate touch with the P&L; the weeklies tell us lot. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. To join your company account for BusinessDesk and enjoy full access, Don: Well, the numbers never lie, right? Don: Im not sure its stress. 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. Your email address will not be published. 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Don Braid. Group Managing Director at Mainfreight NZ . Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. Mainfreight's net profit rose by $40.1m to $188.1m. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Don: It should be where your skills are. Check out our latest analysis for Mainfreight. Boards have a key role to play in the wake of any crisis. Will His AI Plans Be Any Different? 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. [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. Some people dont want any more responsibility they find their own ceiling and thats fine. But, he said, the groups response at the outset of the pandemic had been unequivocal. Zac: What is the Mainfreight way when it comes to culture? Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Youve got to have good outlets. The relationships we develop, both with suppliers and with customers, are there for the long term. What havent we got right? 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. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Youve got to think about that as small groups of people looking after our customers and each group is important in their own right and theyll have their own little traits. 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. It only represents a small part of our revenue, but . 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 feed off that and suppose the people in our business like seeing that and see it as an example and follow. You can be profitable and not collect the cash and go broke. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. 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. 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. He has an enviable track record of integrity and professionalism and wide ranging business experience. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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. Musk Made a Mess at Twitter. For more information, please visit our cookie statement. 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. Click on [Agree] or [Disagree] to accept or refuse cookies. Engage via Email. Required fields are marked *. 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. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. 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. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid People thrive on being given responsibility. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. What are their requirements? Where should we open next? 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Shareholders would be glad to know that the company has improved itself over the last few years. 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Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. [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. Wishing you the best in England and when you return to NZ. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. 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. You know, people arrive when they arrive and they leave when they leave. 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. You cant see yourself as an employer of 8500 people. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. See ourstandard terms and conditionsfor more information. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. 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. 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 Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Of course, you might find a fantastic investment by looking at a different set of stocks. 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. At the end of the day, the decisions they made will be seen in the weekly results. "It's not about what I've done - it's about what we've done and what the business has done," he says. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. If you trust your people, look after them and give them responsibility, theyll deliver. We use functional and analytical cookies on our website to offer an optimal user experience. 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. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. Director Profiles - Mainfreight With the takeover of the Owens Group in 2003 they purchased Owens International Australia. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. I dont see this as a job, so therefore the stress levels arent as strong. Mainfreight's $43.9m 'family' bonus | BusinessDesk So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Mainfreight Half Year Financial Results 30 September 2021 - NZX Mainfreights two new build warehouses, a 50,000 square metre facility in Sydney and 30,000sqm build in Melbourne, are scheduled for completion by end next year.