don braid mainfreight net worth

In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. I will definitely be following the Mainfreight progress closely for when I return to NZ. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. 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. 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. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. 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. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Contact. 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. Is our service or a product still current? Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Lessons from the Managing Director of one of NZ's most successful 2023: A year of trepidation unless you take control, Talking to 2022 Westpac Supreme Business Winner, Juliette Hogan, How Fix & Fogg are winning the hearts of Americans. | "I probably wasn't qualified enough to go to university," Braid says. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Hamish. [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. 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. Don: Um, I think its recognising good people. 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. 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. 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. 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. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. They have over 8500 staff in 280+ locations across 28 countries, so it was pretty cool (and humbling) for us to be able to chat to Don with some of our Business Changing clients recently. FINALIST 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. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. Richard Prebble is by profession a lawyer. 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. Don: With this event in front of us right now, I think cash is king, and the collection of cash. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! 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. Mainfreight shareholders would be similarly pleased. WINNER Weve made this article available for free. The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. [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. 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). You need to have been there 12 months to earn the full bonus that everybody else gets. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. How does that actually work, practically? Mainfreight completes huge software roll-out, spanning A/NZ, US and We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. 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 Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. 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. Thanks for your comments about Don Braid and Mainfreight. Thanks Mr Braid for sharing your knowledge and insight. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. You can be profitable and not collect the cash and go broke. I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. Youve got to have good outlets. While there was someone in the drivers seat, the computer took over the vehicle. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid BRAID, Don - NBR | The Authority since 1970 So I think cashflow is king and Id be focused on that. His father was a truck driver, but he says that didn't influence his career decisions. "There's no bureaucracy or hierarchy or superiority in the business. Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. Its having empathy and I think Im patient, determined, have belief and energy. Theres no cross subsidies. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Will His AI Plans Be Any Different? Mainfreight's net profit rose by $40.1m to $188.1m. Don: Im not sure its stress. Media enquiries Musk Made a Mess at Twitter. Check out our latest analysis for Mainfreight. Experts say community investment is the future. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. Sam Knowles 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. I dont believe that. 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. Don from Mainfreight talks to Fisher Funds. Required fields are marked *. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. 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. As an example, we know what money weve made or lost last week in every single one of those 282 branches as of about half an hour ago. At the end of the day, the decisions they made will be seen in the weekly results. Mainfreight boss: China 'understands our value' - NZ Herald 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. don@mainfreight.com; Profile. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 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. In the decade Braid has spent at its helm, the company has become a global logistics player with operations on every populated continent apart from Africa. Group Managing Director at Mainfreight NZ . Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Our subscriptions start at $24 / month for individuals. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. "He never talks about himself and always talks about long-term goals," Hunt says. "You need some energy and you need to be on the front foot," he says. They love this as it makes them feel supported and that I understand their role. 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. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Your email address will not be published. As you get bigger, staff engagement and culture becomes more difficult. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. "I don't think any of those things are really of interest to this," he says. This endeavor launched the first permanent investment into South America. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? 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 applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Don Braid (Mainfreight) Credit: Mainfreight . It has been listed on the New Zealand Exchange since 1996. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. Shareholders would be glad to know that the company has improved itself over the last few years. Read More . "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. How do I gain more customers? Biography With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Zac: What is the Mainfreight way when it comes to culture? That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. 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. 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. What more could I be doing in the business to actually grow my revenues in these difficult times? Don: The culture is really important and our culture starts with those closest to the customer. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo Zac: Lets talk more about those weekly P&Ls. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. 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. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. To join your company account for BusinessDesk and enjoy full access, 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]. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Group Managing Director, Mainfreight. He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. Wed rather own assets than lease them. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. So weve got eight and a half thousand people and 282 locations. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. How do you maintain a positive culture and a time of crisis? So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? "If you allow the recession to roll over the top of you there's a great chance it will.". Today he chairs a group of telecommunication companies. 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. Both are real legends and seem to really walk the talk. The Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. Don: Well, the numbers never lie, right? 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. 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. 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. Im sure that everyone on this video call will be wanting to shake hands and sit across the table and deal face to face because of the body language thing and being able to ask more questions, whereas the video is quite limiting. [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. What we put in place here in New Zealand became the blueprint for the organization around the world. You cant see yourself as an employer of 8500 people. Zac: Whats a bit of business advice you can share? 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. He owns a 3 per cent stake in the firm, worth about $29 million. 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. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. 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By the way, its not just about us seeing those numbers. [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. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Chosen from New Zealand's top companies, this year's Deloitte . Insurers support an immediate managed retreat for recent flood victims. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Don: For us, its not about the short game, its about the long game. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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. I dont see this as a job, so therefore the stress levels arent as strong. Its a huge level of success and theres satisfaction you get from that. And he should know, having spent his entire working life in the freight industry. See ourstandard terms and conditionsfor more information. Its an intimate touch with the P&L; the weeklies tell us lot. "It's not about what I've done - it's about what we've done and what the business has done," he says. What are the things you do that maybe others dont do that actually make you lead this organization? Early on, New Zealand had great lessons to take to the rest of our network. 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? Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid's more modest 2.79% stake is still worth about $70m - supplemented by annual remuneration of $2.2m in 2017. 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. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. The long-term effects must be carefully studied.

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