don braid mainfreight net worth

The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. 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. 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 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. Us taking away that clock was about responsibility and about taking away that control from head office. Its great fun. So I think cashflow is king and Id be focused on that. 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. 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Braid consistently delivers for shareholders and stakeholders alike. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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. What havent we got right? d***@mainfreight.com. Alternatively, email editorial-team@simplywallst.com. For more information, please visit our cookie statement. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. 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. I dont see this as a job, so therefore the stress levels arent as strong. See the full transcript below. Id also be really focused on being in touch with customers. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. 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 has over 40 years' experience in the freight industry, including 26 with Mainfreight. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Get in touch with us directly. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Where should we open next? 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? Boards have a key role to play in the wake of any crisis. 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. 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. Musk Made a Mess at Twitter. 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: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Copyright 2023 Institute of Directors We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Not bad for a Kiwi trucking company! I just have a belief and determination that weve got a pretty good business here. 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! 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. 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. 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. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. 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. Component 2020 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. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. 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. 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. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. While there was someone in the drivers seat, the computer took over the vehicle. See ourstandard terms and conditionsfor more information. Don Braid's Phone Number and Email Last Update. It only represents a small part of our revenue, but . Both are real legends and seem to really walk the talk. 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. Appointment to Board 2000 - With Mainfreight since 1994. FINALIST Don: It should be where your skills are. Will His AI Plans Be Any Different? "I just think that's disgusting," he says. What we put in place here in New Zealand became the blueprint for the organization around the world. Rob Fyfe As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. You cant see yourself as an employer of 8500 people. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. COVID-19 has had a significant impact on freight and supply chains worldwide. His intellect and pragmatic approach is highly regarded at the Board table. "He's sporting and tough and makes decisions quite fast," Plested says. 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. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. [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. 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. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. He has an enviable track record of integrity and professionalism and wide ranging business experience. Bryan has a wealth of experience, both in executive and board roles. FINALIST Will be fundamentally different from the last one. By using this website you consent to the use of cookies in accordance with our privacy policy. That's just a smallish increase of 6.9% on last year. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. He is an outstandingly consistent and capable chief executive. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Hi Tanya. At the end of the day, the decisions they made will be seen in the weekly results. 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.. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. "We've been in China for 20 years. Your email address will not be published. | In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Experts say community investment is the future. Concerned about the content? I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. [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. Richard Prebble is by profession a lawyer. Thanks for your comments about Don Braid and Mainfreight. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. We offer lots of training as well, internally and externally. 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. Appointment to Board 2000 - With Mainfreight since 1994. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. It is totally how I believe a company should be and I love how everyone starts at the bottom. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Everyone stands on their own two feet. 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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. He knows where the company is going and, more importantly, how it will get there. Don: Im not sure its stress. Don: For us, its not about the short game, its about the long game. Thanks Mr Braid for sharing your knowledge and insight. "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. 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. 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. That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Mainfreight shareholders would be similarly pleased. 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, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. 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. Zac: Whats a bit of business advice you can share? 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. 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. Zac: Don, what makes you good? Group Managing Director at Mainfreight NZ . The price of the rights fell as low as 7.5 cents on the last day of trading. "It's not about what I've done - it's about what we've done and what the business has done," he says. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. 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. So take a peek at this free list of interesting companies. The firm's shares have been one of the best performing stocks on the NZX, returning more than. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets. 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. Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. Don: The culture is really important and our culture starts with those closest to the customer. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. 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. You may withdraw your consent at any time. Photo / Supplied . Bruce would be the first person to say he needed to have great leadership following him if he wanted to bring his hundred year vision to life. How do you maintain a positive culture and a time of crisis? 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. But, he said, the groups response at the outset of the pandemic had been unequivocal. Its having empathy and I think Im patient, determined, have belief and energy. Some of the leading players in the listed retirement sector have been raising capital. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. As you get bigger, staff engagement and culture becomes more difficult. Engage via Email. 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. 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. 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. [3][4], When the company was founded it entered a highly regulated transport market. Contact. 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. 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. 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. He attributed the. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Chosen from New Zealand's top companies, this year's Deloitte . 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. Privacy policy We aim to bring you long-term focused analysis driven by fundamental data. And thats why we travel a lot when you visit, you can smell the morale in an instant. 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 Braid "I probably wasn't qualified enough to go to university," Braid says. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. Theres no cross subsidies. [13] The transaction was completed on 6 June 2007. Not living as a question mark but instead getting on with it and making those decisions. Your email address will not be published. In 1994 Mainfreight purchased the business, and Don went on to hold various senior management roles at Mainfreight prior to his appointment as Managing Director in 2000. Brent is a senior reporter based in Queenstown. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. 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. Nothing drives home the state of our roads like a trip on a bike. 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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. 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. [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. You know, people arrive when they arrive and they leave when they leave.

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