enter your email and well send you details. Don: It should be where your skills are. 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. 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. We're trying to break all that down.". 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. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Don Braid. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. 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. Rob Fyfe We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. [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. He is an outstandingly consistent and capable chief executive. Copyright 2023 Institute of Directors 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. 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. Your email address will not be published. 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. 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. don@mainfreight.com; Profile. Zac: How do you prioritise where to spend your time in a normal week? Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. "You need some energy and you need to be on the front foot," he says. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Bryan has a wealth of experience, both in executive and board roles. 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. 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! Media enquiries 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. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. 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. Email. A table of ten booking is available for $1000.00, subject to availability at the time of booking. CEO compensation can have a massive impact on performance, but it's just one element. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Agreement with print tech giant Canon saves college thousands. 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. 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. Concerned about the content? I really want to be in front of those customers! Group Managing Director, Mainfreight. [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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Id also be really focused on being in touch with customers. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. If you trust your people, look after them and give them responsibility, theyll deliver. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. See ourstandard terms and conditionsfor more information. So I think cashflow is king and Id be focused on that. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. 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". "If you allow the recession to roll over the top of you there's a great chance it will.". The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. And thats that. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. So long term, we have a really experienced leadership team. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. Out of that, I think weve got the culture really starting to develop. 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. 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. JUDGES COMMENTS He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Some of the leading players in the listed retirement sector have been raising capital. 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. What else do we need to do to satisfy that bunch of customers? Should it change? It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Don: I get out of the way. 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. That was uppermost in our mind. [4] This operation was expanded with depots in Melbourne and Brisbane. 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. National's three waters policy is only cosmetically distinct from Labour's. The price of the rights fell as low as 7.5 cents on the last day of trading. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. To trust your people too, to give them the responsibility. Don: The culture is really important and our culture starts with those closest to the customer. Don: Well, the numbers never lie, right? 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. For more information, please visit our cookie statement. 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. 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. He attributed the. FINALIST WINNER The CEO of Mainfreight Limited (NZSE:MFT) is Don Braid, and this article examines the executive's compensation against the backdrop of overall company performance. [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. 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. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. Were thinking about being around for a hundred years. Chief executive, Kiwibank 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 Both are real legends and seem to really walk the talk. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. Who wouldnt want exposure to the retirement sector? Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. 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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. Look after your people and theyll look after the business. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Nothing drives home the state of our roads like a trip on a bike. 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. 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. 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. Where should we open next? 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. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Please note that with cookies disabled you will have a degraded experience with some features. 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. 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. 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. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. And then its about exploring the long game. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. Biography Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Is our service or a product still current? And what do you believe leaders need to excel at? Don Braid. "I probably wasn't qualified enough to go to university," Braid says. Mainfreight managing director Don Braid. Don: For us, its not about the short game, its about the long game. Theres no bullshit in the numbers, they are what the business has earned. [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. Not living as a question mark but instead getting on with it and making those decisions. 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. 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. 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. See guidance for chairs and directors. So we are developing our people to be the best they possibly can be. Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. [3][4], When the company was founded it entered a highly regulated transport market. Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. And if you dont make a profit, theres no bonus that year. Its the individuals responsibility to arrive on time and stay until the jobs finished. 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. How do I gain more customers? 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. "He's sporting and tough and makes decisions quite fast," Plested says. 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. 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 Don Braid's Phone Number and Email Last Update. He knows where the company is going and, more importantly, how it will get there. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. [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. 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. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. He brings strong financial skills and business acumen to the role. 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. 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]. At the end of the day, the decisions they made will be seen in the weekly results. Us taking away that clock was about responsibility and about taking away that control from head office. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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. 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It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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). Its revenue is up 5.9% over the last year. Brent is a senior reporter based in Queenstown. Some people dont want any more responsibility they find their own ceiling and thats fine. Experts say community investment is the future. | He owns a 3 per cent stake in the firm, worth about $29 million. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. | Zac: Can you share more about your profit share? Sam Knowles The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. 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. [3] [4] When the company was founded it entered a highly regulated transport market. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Weve made this article available for free. His company has been a shining example of success amid tough global economic conditions. 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. Don Braid (Mainfreight) Credit: Mainfreight . As you get bigger, staff engagement and culture becomes more difficult. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. "It's not about what I've done - it's about what we've done and what the business has done," he says. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. This article by Simply Wall St is general in nature. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. The Biosecurity Business Pledge group has launched two new biosecurity guides. Don from Mainfreight talks to Fisher Funds. We offer lots of training as well, internally and externally. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. Richard Prebble is by profession a lawyer. We aim to bring you long-term focused analysis driven by fundamental data. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. What we put in place here in New Zealand became the blueprint for the organization around the world. Your email address will not be published. Im not sure well see driverless trucks in NZ for some time to come. What are the things you do that maybe others dont do that actually make you lead this organization? What havent we got right? That's just a smallish increase of 6.9% on last year. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? I dont believe that. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. I learned that early in the piece and I think its stood me in good stead. | 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 believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Don: I think its quite a long way off. 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.
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