I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Zac: Don, having a decentralized business, whats been your approach to leadership? Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Don: Um, I think its recognising good people. Business Leader of the Year 2011 Winner: Don Braid - NZ Herald Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. We were lucky enough to have a really incredible chat with Mainfreight CEO Don Braid about what he has learnt as the CEO of Mainfreight. "We've been in China for 20 years. 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. Zac: Don, your 100-year vision how does that work? 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. As you get bigger, staff engagement and culture becomes more difficult. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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. 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? For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Email. What are the things you do that maybe others dont do that actually make you lead this organization? Cash flow is essential for any business survival. Please note that with cookies disabled you will have a degraded experience with some features. 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. Nothing drives home the state of our roads like a trip on a bike. For me its being in the business, with people and in particular with customers. Thanks for your comments about Don Braid and Mainfreight. 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. 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. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Will be fundamentally different from the last one. 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. Don: Its been interesting! 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. Mainfreight founder says bonuses help solve inequality and - Stuff Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. "That gives us an enormous amount of opportunity.". Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Agreement with print tech giant Canon saves college thousands. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. And thats why we travel a lot when you visit, you can smell the morale in an instant. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. 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. So a lot is about the long game. 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. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Wed rather own assets than lease them. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Mainfreight managing director Don Braid. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. But, he said, the groups response at the outset of the pandemic had been unequivocal. Q&A with Mainfreight's Don Braid - Business Changing 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. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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 think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). If you trust your people, look after them and give them responsibility, theyll deliver. 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]. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Zac: How do you prioritise where to spend your time in a normal week? If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. "He implements things very well and you don't have to remind him about anything you're trying to achieve. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? National's three waters policy is only cosmetically distinct from Labour's. COVID-19 has had a significant impact on freight and supply chains worldwide. Subscribe to protect quality NZ journalism. 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. Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. I learned that early in the piece and I think its stood me in good stead. He attributed the. He is an outstandingly consistent and capable chief executive. 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. Id also be really focused on being in touch with customers. And if you dont make a profit, theres no bonus that year. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Will His AI Plans Be Any Different? Us taking away that clock was about responsibility and about taking away that control from head office. [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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". BusinessDesk has a paywall for most of its content. Brent is a senior reporter based in Queenstown. 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. Some of the leading players in the listed retirement sector have been raising capital. Today he chairs a group of telecommunication companies. 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. Mainfreight's net profit rose by $40.1m to $188.1m. Zac: Lets talk more about those weekly P&Ls. don@mainfreight.com; Profile. 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. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? 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. Engage via Email. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Who wouldnt want exposure to the retirement sector? 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. In light of current trends, we will provide a nine-month trading update mid-February 2022. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. 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. They love this as it makes them feel supported and that I understand their role. 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. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. 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. 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.". 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 Photo / Supplied . They know that now and can alter those decisions as they head into the week in front of them. We offer lots of training as well, internally and externally. Don: I think its quite a long way off. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. His company has been a shining example of success amid tough global economic conditions. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. How do I gain more customers? 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. 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. The price of the rights fell as low as 7.5 cents on the last day of trading. FINALIST This endeavor launched the first permanent investment into South America. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. "There's no bureaucracy or hierarchy or superiority in the business. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. His intellect and pragmatic approach is highly regarded at the Board table. Shareholders would be glad to know that the company has improved itself over the last few years. Save my name, email, and website in this browser for the next time I comment. Zac: Don, what makes you good? Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. He knows where the company is going and, more importantly, how it will get there. His father was a truck driver, but he says that didn't influence his career decisions. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. Read More . "He never talks about himself and always talks about long-term goals," Hunt says. Richard Prebble is by profession a lawyer. "I just think that's disgusting," he says. Chief executive, Air New Zealand What we put in place here in New Zealand became the blueprint for the organization around the world. How we can fix New Zealand's ports - Don Braid | BusinessDesk People thrive on being given responsibility. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. If were going to build facilities for our people, we build very good facilities to be around for a long time. 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. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. How are we changing the business accordingly? It only represents a small part of our revenue, but . Don Braid. Its revenue is up 5.9% over the last year. 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. 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. "You need some energy and you need to be on the front foot," he says. Group Managing Director, Mainfreight. 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. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. The firm has earned a reputation within the market for being slickly-run. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. 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. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). And thats that. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Theres no bullshit in the numbers, they are what the business has earned. 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. Experts say community investment is the future. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Click on [Agree] or [Disagree] to accept or refuse cookies. 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). So it looks like Mainfreight compensates Don Braid in line with the median for the industry. It is totally how I believe a company should be and I love how everyone starts at the bottom. [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. I dont believe that. 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). He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Mainfreight completes huge software roll-out, spanning A/NZ, US and How do you measure this? He brings strong financial skills and business acumen to the role. While there was someone in the drivers seat, the computer took over the vehicle. Zac: Whats a bit of business advice you can share? It has been listed on the New Zealand Exchange since 1996. Don: The culture is really important and our culture starts with those closest to the customer. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. 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. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. Mainfreight's straight-talking group managing director has an infectious zest for business. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Chief executive, Kiwibank Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. You cant see yourself as an employer of 8500 people. Mainfreight - Wikipedia See the full transcript below. 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. Where do we need to be? At the end of the day, the decisions they made will be seen in the weekly results. He owns a 3 per cent stake in the firm, worth about $29 million. Media enquiries Look after your people and theyll look after the business. 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. 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. 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. 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. Zac: Can you share more about your profit share? 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. 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. 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. 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. The Biosecurity Business Pledge group has launched two new biosecurity guides. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Learn more. We dont call them staff for us, they are our people or our team. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and .
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