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5 November 2019 - Mainfreight's Don Braid has reinforced his reputation as one of New Zealand's most successful executives, being named Executive of the Decade at the 2019 Deloitte Top 200 Awards in Auckland tonight (5 December 2019).Mainfreight was also named Company of the Year, sponsored by Deloitte Digital and Marsh. How do I gain more customers? He is 100 percent dedicated to Mainfreight and its future and has led the company in consolidating its position as an international business, progress which will bring rewards not only for that company but for New Zealand as it continues to expand offshore. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. People thrive on being given responsibility. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. 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. Well in Europe they had these time clocks. And sometimes, particularly so in New Zealand, they see the market ultimately being as quite small, when in fact their product or service is good enough to take to the world. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Mainfreight's straight-talking group managing director has an infectious zest for business. 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 tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. How Does Don Braid's Compensation Compare With Similar Sized Companies? Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. 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. 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. Don: I think empathy is really important. Biography For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. So we are developing our people to be the best they possibly can be. 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. He attributed the. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. 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. Mainfreight Half Year Financial Results 30 September 2021 - NZX Deloitte Top 200 Award Winners Announced for 2019 Your email address will not be published. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Is our service or a product still current? [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. 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. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. 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. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. 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. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Weve needed to adjust, particularly in the international sector, air freight charters rather than just normal air freight our people had never had any experience in chartering a full plane. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. We offer lots of training as well, internally and externally. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. They love this as it makes them feel supported and that I understand their role. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". I dont see this as a job, so therefore the stress levels arent as strong. Subscribe to protect quality NZ journalism. 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. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Required fields are marked *. And if you dont make a profit, theres no bonus that year. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". How does that actually work, practically? Director Profiles | New Zealand - Mainfreight What we put in place here in New Zealand became the blueprint for the organization around the world. We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. Everyone stands on their own two feet. 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. But the excitement is justified. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 11/5/2022 3:33 PM. While there was someone in the drivers seat, the computer took over the vehicle. Zac: How do you prioritise where to spend your time in a normal week? Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Brent is a senior reporter based in Queenstown. 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. Look after your people and theyll look after the business. 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. Component 2020 [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. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo 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. Don: It should be where your skills are. Will be fundamentally different from the last one. Its a huge level of success and theres satisfaction you get from that. Wed rather own assets than lease them. Will His AI Plans Be Any Different? The Biosecurity Business Pledge group has launched two new biosecurity guides. 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. CEO compensation can have a massive impact on performance, but it's just one element. 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. Braid consistently delivers for shareholders and stakeholders alike. "You need some energy and you need to be on the front foot," he says. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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. I suppose were grooming people all the time for those loaded leadership roles. Whats changed? Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. d***@mainfreight.com. Don Braid (Mainfreight) Credit: Mainfreight . Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. As you get bigger, staff engagement and culture becomes more difficult. Mainfreight's net profit rose by $40.1m to $188.1m. What else do we need to do to satisfy that bunch of customers? It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid It has been listed on the New Zealand Exchange since 1996. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Nothing drives home the state of our roads like a trip on a bike. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Forsyth Barr analyst Rob Mercer said the market had confidence in Mainfreight after it managed to grow revenue and market share and outperform its peers during the global financial crisis. Email. I just have a belief and determination that weve got a pretty good business here. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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]. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Not living as a question mark but instead getting on with it and making those decisions. | Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. How do you maintain a positive culture and a time of crisis? 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. Theres no bullshit in the numbers, they are what the business has earned. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. 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. 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. In 2008, the United States locations were re-branded as Mainfreight USA. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? 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? So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Don: Well, the numbers never lie, right? The price of the rights fell as low as 7.5 cents on the last day of trading. And thats why we travel a lot when you visit, you can smell the morale in an instant. Who wouldnt want exposure to the retirement sector? 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. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Photo / Supplied . We aim to bring you long-term focused analysis driven by fundamental data. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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! He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . [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. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. 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. 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. You may withdraw your consent at any time. "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.". Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. Boards have a key role to play in the wake of any crisis. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. Don Braid. Please note that with cookies disabled you will have a degraded experience with some features. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. 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. So weve got eight and a half thousand people and 282 locations. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. 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. 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. Don: The recruitment of our people sits with the branch managers. 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. Zac: Can you share more about your profit share? Terms of use So a lot is about the long game. See ourstandard terms and conditionsfor more information. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. How do you measure this? Today he chairs a group of telecommunication companies. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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". So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. 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. Don Braid - newzealandinc.com 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. 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. "If you allow the recession to roll over the top of you there's a great chance it will.". I will definitely be following the Mainfreight progress closely for when I return to NZ. Appointment to Board 2000 - With Mainfreight since 1994. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. 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. Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. Rob Fyfe 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. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. If were going to build facilities for our people, we build very good facilities to be around for a long time. "He implements things very well and you don't have to remind him about anything you're trying to achieve. 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. 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. "I just think that's disgusting," he says. FINALIST Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Copyright 2023 Institute of Directors It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Its great fun. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Zac: Whats a bit of business advice you can share? Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. 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 Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. | Hi Tanya. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. I think our owner drivers are a key component of the relationship with the customer. 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. Its the individuals responsibility to arrive on time and stay until the jobs finished. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. 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. I learned that early in the piece and I think its stood me in good stead. The firm has earned a reputation within the market for being slickly-run. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. His intellect and pragmatic approach is highly regarded at the Board table. 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. And thats that. Privacy policy 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. The long-term effects must be carefully studied. It is totally how I believe a company should be and I love how everyone starts at the bottom. Group Managing Director, Mainfreight. And he should know, having spent his entire working life in the freight industry.