don braid mainfreight net worth don braid mainfreight net worth

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.. And what do you believe leaders need to excel at? We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. I suppose were grooming people all the time for those loaded leadership roles. Photo / Supplied . Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? By using this website you consent to the use of cookies in accordance with our privacy policy. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. 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. 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. 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). "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. "That gives us an enormous amount of opportunity.". Don Braid's Phone Number and Email Last Update. While there was someone in the drivers seat, the computer took over the vehicle. Will His AI Plans Be Any Different? 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: It should be where your skills are. The long-term effects must be carefully studied. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. Biography Mainfreight's net profit rose by $40.1m to $188.1m. 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. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits. Zac: How do you prioritise where to spend your time in a normal week? For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Copyright 2023 Institute of Directors What do those customers look for from us? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. 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. He is an outstandingly consistent and capable chief executive. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. 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. So a lot is about the long game. Don Braid (Mainfreight) Credit: Mainfreight . He attributed the. Your email address will not be published. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. [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. Group Managing Director, Mainfreight. 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. [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. To trust your people too, to give them the responsibility. 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. 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. He owns a 3 per cent stake in the firm, worth about $29 million. A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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. Thanks for your comments about Don Braid and Mainfreight. But, he said, the groups response at the outset of the pandemic had been unequivocal. Hi Tanya. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . "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. We offer lots of training as well, internally and externally. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Cash flow is essential for any business survival. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? Some people dont want any more responsibility they find their own ceiling and thats fine. For me its being in the business, with people and in particular with customers. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. "I just think that's disgusting," he says. 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. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Chief executive, Kiwibank It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. 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. 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! Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. And then its about exploring the long game. Brent is a senior reporter based in Queenstown. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. "He's sporting and tough and makes decisions quite fast," Plested says. 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. 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 is obviously a massive employer with almost 9000 staff across the world. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Zac: Lets talk more about those weekly P&Ls. 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 Im not sure well see driverless trucks in NZ for some time to come. 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. Don: I think empathy is really important. Don: The recruitment of our people sits with the branch managers. | The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. Chief executive, Mainfreight We use functional and analytical cookies on our website to offer an optimal user experience. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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". Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. And thats why we travel a lot when you visit, you can smell the morale in an instant. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. 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. That was uppermost in our mind. Its a huge level of success and theres satisfaction you get from that. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. 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. Where do we need to be? For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. So I think cashflow is king and Id be focused on that. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. If theyre not on their game, you can see that really quickly so you either get alongside them and help them or if it goes on for too long you realise weve got the wrong person in the wrong role and weve got to change them. How do you measure this? What are their requirements? Contact. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. 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. Chief executive, Air New Zealand 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. Email. Component 2020 People thrive on being given responsibility. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. 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. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Don: Im not sure its stress. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. 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. This endeavor launched the first permanent investment into South America. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Other Current Directorships: 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . See ourstandard terms and conditionsfor more information. 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. That's ambitious, even . 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. How do you maintain a positive culture and a time of crisis? Youve got to break it down. 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. 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. How does that actually work, practically? Chosen from New Zealand's top companies, this year's Deloitte . He has an enviable track record of integrity and professionalism and wide ranging business experience. 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. His father was a truck driver, but he says that didn't influence his career decisions. I'm pleased I didn't do anything else.". When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. 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. 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. 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. How do I gain more customers? 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]. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Shareholders would be glad to know that the company has improved itself over the last few years. Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. I learned that early in the piece and I think its stood me in good stead. 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 think our owner drivers are a key component of the relationship with the customer. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. 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. And thats that. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Zac: Don, if you owned your own SME business at the moment, what would you be focusing on going forward to be as successful as you could be under this environment? Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. [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. They love this as it makes them feel supported and that I understand their role. 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. Don: I get out of the way. In light of current trends, we will provide a nine-month trading update mid-February 2022. The Biosecurity Business Pledge group has launched two new biosecurity guides. 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. 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. 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. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Nothing drives home the state of our roads like a trip on a bike. Don: Its been interesting! 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. Prior to joining Air New Zealand, he held range of senior management positions both within New Zealand and overseas, including roles with the National Australia Bank, Bank of New Zealand, Telecom NZ and ITV Group in the UK. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Thanks Mr Braid for sharing your knowledge and insight. Zac: Don, your 100-year vision how does that work? We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. I really want to be in front of those customers! We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Don Braid. Zac: What is the Mainfreight way when it comes to culture? Another attribute is straight talking. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. 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 also lent his considerable support to not-for-profit organisations such as the Starship Foundation. "There's no bureaucracy or hierarchy or superiority in the business. See the full transcript below. 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. 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Check out our latest analysis for Mainfreight. "We've been in China for 20 years. 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. 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.". Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate.