[14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. The firm has earned a reputation within the market for being slickly-run. "He never moans about the currency and is always positive.". What else do we need to do to satisfy that bunch of customers? Early on, New Zealand had great lessons to take to the rest of our network. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. 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. | Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Don Braid (Mainfreight) Credit: Mainfreight . Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. And he should know, having spent his entire working life in the freight industry. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. People thrive on being given responsibility. As a young salesperson aged 19, I couldnt make a cold call. Chief executive, Air New Zealand 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. 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. We offer lots of training as well, internally and externally. So the weekly P&L puts them on the spot. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Mainfreight people, he says, don't "live in question marks". 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? Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. Please note that with cookies disabled you will have a degraded experience with some features. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. So I think cashflow is king and Id be focused on that. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. 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. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Appointment to Board 2000 - With Mainfreight since 1994. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 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. Braid consistently delivers for shareholders and stakeholders alike. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets How do you measure this? 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. Biography 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. 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. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. [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. See guidance for chairs and directors. 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. 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. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. 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. 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. Who wouldnt want exposure to the retirement sector? In addition, we use tracking cookies, which can collect information about you and follow your internet activity within our website, and possibly outside our website as well. Hes the right man for the job at just the right time. Experts say community investment is the future. 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. Director Profiles - Mainfreight [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 it looks like Mainfreight compensates Don Braid in line with the median for the industry. [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. 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. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. 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. 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. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. The Biosecurity Business Pledge group has launched two new biosecurity guides. 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. You cant see yourself as an employer of 8500 people. Mainfreight's net profit rose by $40.1m to $188.1m. Brent is a senior reporter based in Queenstown. 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. Check out our latest analysis for Mainfreight. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Appointment to Board 2000 - With Mainfreight since 1994. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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 - Group Managing Director - Mainfreight NZ | ZoomInfo d***@mainfreight.com. "If you allow the recession to roll over the top of you there's a great chance it will.". Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. Its having empathy and I think Im patient, determined, have belief and energy. 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. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Chosen from New Zealand's top companies, this year's Deloitte . Don Braid. 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. 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. Mainfreight founder says bonuses help solve inequality and - Stuff Shareholders would be glad to know that the company has improved itself over the last few years. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. If you trust your people, look after them and give them responsibility, theyll deliver. 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. 11/5/2022 3:33 PM. Not bad for a Kiwi trucking company! Our subscriptions start at $24 / month for individuals. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. 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.