don braid mainfreight net worth

Subscribe to protect quality NZ journalism. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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. So weve got eight and a half thousand people and 282 locations. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Some people dont want any more responsibility they find their own ceiling and thats fine. Don: For us, its not about the short game, its about the long game. Youve got to break it down. For me its being in the business, with people and in particular with customers. 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. 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. We offer lots of training as well, internally and externally. The key for me is to be in the business as much as possible, to be visible. 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). 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? Mainfreight's $43.9m 'family' bonus | BusinessDesk He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Nothing drives home the state of our roads like a trip on a bike. Will His AI Plans Be Any Different? Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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]. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. [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. 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. The opportunities offshore and the populations that exist in some of those other countries are large; you only have to get something half right in some of those countries and youre growing a big business compared to what you have here in New Zealand. If were going to build facilities for our people, we build very good facilities to be around for a long time. [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. 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. Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. As a young salesperson aged 19, I couldnt make a cold call. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Please note that with cookies disabled you will have a degraded experience with some features. How are we changing the business accordingly? Thanks for your comments about Don Braid and Mainfreight. 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Forsyth Barr analyst Rob Mercer said the market had confidence in Mainfreight after it managed to grow revenue and market share and outperform its peers during the global financial crisis. Mainfreight people, he says, don't "live in question marks". His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Where do we need to be? 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. 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. Where should we open next? I will definitely be following the Mainfreight progress closely for when I return to NZ. What are the things you do that maybe others dont do that actually make you lead this organization? What we put in place here in New Zealand became the blueprint for the organization around the world. So I think cashflow is king and Id be focused on that. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. enter your email and well send you details. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. So a lot is about the long game. The company is growing EPS and total shareholder returns have been pleasing. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. I learned that early in the piece and I think its stood me in good stead. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. Hes the right man for the job at just the right time. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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. 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. "There's no bureaucracy or hierarchy or superiority in the business. Rob Fyfe 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Don Braid - newzealandinc.com I just have a belief and determination that weve got a pretty good business here. Id also be really focused on being in touch with customers. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. The long-term effects must be carefully studied. His company has been a shining example of success amid tough global economic conditions. Should it change? | 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. 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. 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. 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. 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. Mainfreight founder says bonuses help solve inequality and - Stuff Weve got examples of that in our business right now. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Mainfreight's net profit rose by $40.1m to $188.1m. 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. 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. Don: With this event in front of us right now, I think cash is king, and the collection of cash. So take a peek at this free list of interesting companies. 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). Well in Europe they had these time clocks. 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. I dont see this as a job, so therefore the stress levels arent as strong. Once it became a global pandemic we needed to react and adapt as quickly as we could. 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. 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. His intellect and pragmatic approach is highly regarded at the Board table. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! How does that actually work, practically? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. And what do you believe leaders need to excel at? 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. You can be profitable and not collect the cash and go broke. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Media enquiries Will be fundamentally different from the last one. 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. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. You know, people arrive when they arrive and they leave when they leave. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. "I don't think any of those things are really of interest to this," he says. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. 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. The price of the rights fell as low as 7.5 cents on the last day of trading. Watson said she did not believe bonuses were a way. Everyone stands on their own two feet. And thats that. Mainfreight - Wikipedia 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.. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. 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. Don Braid (Mainfreight) Credit: Mainfreight . 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. 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: Im not sure its stress. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Zac: Can you share more about your profit share? Whilst describing the foundation of Mainfreight in 2000, Plested said to the New Zealand Herald, "We moved all our freight by sea between Auckland, and Christchurch and Dunedin, and we worked weekend shifts to make sure we loaded and unloaded the ship using the whole of the seven days - we found that was faster and more reliable than our big competitors."[4]. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Out of that, I think weve got the culture really starting to develop. Boards have a key role to play in the wake of any crisis. Braid consistently delivers for shareholders and stakeholders alike. Do also serves as a member of the Board of the Starship foundation. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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! Not living as a question mark but instead getting on with it and making those decisions. | The Biosecurity Business Pledge group has launched two new biosecurity guides. For more information, please visit our cookie statement. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Zac: Lets talk more about those weekly P&Ls. Zac: What is the Mainfreight way when it comes to culture? As you get bigger, staff engagement and culture becomes more difficult. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. 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. Chief executive, Air New Zealand Don: I think its quite a long way off. 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. 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. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Group Managing Director, Mainfreight. Theyll have the Mainfreight culture, but itll have a little twist for example, the culture in Shanghai is different to the culture in Newark or the Netherlands or Sydney.

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