don braid mainfreight net worth

Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. Don: For us, its not about the short game, its about the long game. Where do we need to be? Thats the key. Id also be really focused on being in touch with customers. Get in touch with us directly. The Biosecurity Business Pledge group has launched two new biosecurity guides. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Wishing you the best in England and when you return to NZ. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. See ourstandard terms and conditionsfor more information. 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. At the end of the day, the decisions they made will be seen in the weekly results. In 2008, the United States locations were re-branded as Mainfreight USA. 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. Privacy policy Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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. And what do you believe leaders need to excel at? "I probably wasn't qualified enough to go to university," Braid says. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Mainfreight - Wikipedia Chosen from New Zealand's top companies, this year's Deloitte . 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. Us taking away that clock was about responsibility and about taking away that control from head office. How do I gain more customers? As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Deloitte Top 200 Award Winners Announced for 2019 If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. Rob Fyfe He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Its a huge level of success and theres satisfaction you get from that. 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. "That gives us an enormous amount of opportunity.". 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. Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. Chief executive, Mainfreight 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Please note that with cookies disabled you will have a degraded experience with some features. Component 2020 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. And thats that. So what you produce in terms of profitability is real. By the way, its not just about us seeing those numbers. 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. Today he chairs a group of telecommunication companies. 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. 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". So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. | 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. 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. Mainfreight people, he says, don't "live in question marks". The key for me is to be in the business as much as possible, to be visible. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. 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). What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Whats changed? Q&A with Mainfreight's Don Braid - Business Changing The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. Don: Well, the numbers never lie, right? When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. We use functional and analytical cookies on our website to offer an optimal user experience. Not living as a question mark but instead getting on with it and making those decisions. Thanks Mr Braid for sharing your knowledge and insight. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. 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. 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. 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]. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. 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. Both are real legends and seem to really walk the talk. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. | Mainfreight completes huge software roll-out, spanning A/NZ, US and Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. 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). And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Well in Europe they had these time clocks. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. What we put in place here in New Zealand became the blueprint for the organization around the world. Lessons from the Managing Director of one of NZ's most successful 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. 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. He brings strong financial skills and business acumen to the role. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Don Braid. What more could I be doing in the business to actually grow my revenues in these difficult times? 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. 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. Director Profiles - Mainfreight 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. 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. Zac: What is the Mainfreight way when it comes to culture? 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. 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. 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. His intellect and pragmatic approach is highly regarded at the Board table. 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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Mainfreight's $43.9m 'family' bonus | BusinessDesk 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. Group Managing Director at Mainfreight NZ . [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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? Zac: How do you prioritise where to spend your time in a normal week? While there was someone in the drivers seat, the computer took over the vehicle. Don: I get out of the way. 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. 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! Zac: Don, what makes you good? Richard Prebble is by profession a lawyer. 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. Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. It only represents a small part of our revenue, but . So I think cashflow is king and Id be focused on that. 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. That's ambitious, even . Don Braid Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. "I just think that's disgusting," he says. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. I dont believe that. 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.". So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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. "He implements things very well and you don't have to remind him about anything you're trying to achieve. "He's sporting and tough and makes decisions quite fast," Plested says. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Zac: Can you share more about your profit share? Im not sure well see driverless trucks in NZ for some time to come. So we are developing our people to be the best they possibly can be. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Insurers support an immediate managed retreat for recent flood victims. [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. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. His father was a truck driver, but he says that didn't influence his career decisions.

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