So what you produce in terms of profitability is real. Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. Mainfreight shareholders would be similarly pleased. "I just think that's disgusting," he says. Another attribute is straight talking. The Biosecurity Business Pledge group has launched two new biosecurity guides. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. Chief executive, Mainfreight Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Learn more. Get in touch with us directly. 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). Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Chosen from New Zealand's top companies, this year's Deloitte . 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. 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. enter your email and well send you details. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Chief executive, Air New Zealand Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. What do those customers look for from us? Don: I think empathy is really important. 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. 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. "It's not about what I've done - it's about what we've done and what the business has done," he says. Not living as a question mark but instead getting on with it and making those decisions. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. It is totally how I believe a company should be and I love how everyone starts at the bottom. How do you measure this? See ourstandard terms and conditionsfor more information. Save my name, email, and website in this browser for the next time I comment. What else do we need to do to satisfy that bunch of customers? 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. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Today he chairs a group of telecommunication companies. Early on, New Zealand had great lessons to take to the rest of our network. The company is growing EPS and total shareholder returns have been pleasing. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. 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. Us taking away that clock was about responsibility and about taking away that control from head office. 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. [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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. 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. Will His AI Plans Be Any Different? Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. "There's no bureaucracy or hierarchy or superiority in the business. He attributed the. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. 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. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. 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. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Of course, you might find a fantastic investment by looking at a different set of stocks. 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. Mainfreight's straight-talking group managing director has an infectious zest for business. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. The long-term effects must be carefully studied. What more could I be doing in the business to actually grow my revenues in these difficult times? 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. Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. Its revenue is up 5.9% over the last year. Other Current Directorships: 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. You can be profitable and not collect the cash and go broke. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. We aim to bring you long-term focused analysis driven by fundamental data. [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. So weve got eight and a half thousand people and 282 locations. Where should we open next? 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. Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. Zac: Don, what makes you good? So you need to make sure youve got succession planning to be able to work on the dream that youre creating. And he should know, having spent his entire working life in the freight industry. So take a peek at this free list of interesting companies. 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. Theres no cross subsidies. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. So everything that we do is about being here for a long time. Wishing you the best in England and when you return to NZ. [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. 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. JUDGES COMMENTS Hamish. Don: The recruitment of our people sits with the branch managers. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Don: I get out of the way. 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. In this episode, Bronson explains how the lessons he learned in the kitchen translated to the booth, the reason money can never be the motivation for creating art, and why he believes that imperfections are the best part of any masterpiece. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Zac: Don, having a decentralized business, whats been your approach to leadership? Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. "He's sporting and tough and makes decisions quite fast," Plested says. don@mainfreight.com; Profile. National's three waters policy is only cosmetically distinct from Labour's. Biography On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. This endeavor launched the first permanent investment into South America. Zac: Lets talk more about those weekly P&Ls. To trust your people too, to give them the responsibility. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. For me its being in the business, with people and in particular with customers. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Were thinking about being around for a hundred years. By using this website you consent to the use of cookies in accordance with our privacy policy. What havent we got right? He has an enviable track record of integrity and professionalism and wide ranging business experience. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. [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. We use functional and analytical cookies on our website to offer an optimal user experience. 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. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. He is an outstandingly consistent and capable chief executive. How Does Don Braid's Compensation Compare With Similar Sized Companies? Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. FINALIST 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. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. 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.
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