He attributed the. 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. Richard Prebble is by profession a lawyer. Required fields are marked *. Bryan has a wealth of experience, both in executive and board roles. A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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]. So long term, we have a really experienced leadership team. 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 implements things very well and you don't have to remind him about anything you're trying to achieve. For me its being in the business, with people and in particular with customers. The price of the rights fell as low as 7.5 cents on the last day of trading. How are we changing the business accordingly? 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. 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. Chief executive, Mainfreight Don Braid. Don Braid's Phone Number and Email Last Update. Appointment to Board 2000 - With Mainfreight since 1994. Don: Well, the numbers never lie, right? FINALIST As you get bigger, staff engagement and culture becomes more difficult. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Don: Um, I think its recognising good people. | Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Don: With this event in front of us right now, I think cash is king, and the collection of cash. [3] [4] When the company was founded it entered a highly regulated transport market. Theres no cross subsidies. 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 [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. 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. Youve got to break it down. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. How do you maintain a positive culture and a time of crisis? Will be fundamentally different from the last one. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. So the idea was to make sure that our people were right, that our systems were ok, what customers could trade, and how we could help those customers as an essential service. 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. Alternatively, email [email protected]. 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. If you trust your people, look after them and give them responsibility, theyll deliver. Cash flow is essential for any business survival. Component 2020 JUDGES COMMENTS I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Don: The recruitment of our people sits with the branch managers. Its great fun. 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 dont call them staff for us, they are our people or our team. National's three waters policy is only cosmetically distinct from Labour's. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. We offer lots of training as well, internally and externally. And if you dont make a profit, theres no bonus that year. What havent we got right? "He never talks about himself and always talks about long-term goals," Hunt says. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. 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. How do you measure this? 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". Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. 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. Were thinking about being around for a hundred years. | Subscribe to protect quality NZ journalism. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. What we put in place here in New Zealand became the blueprint for the organization around the world. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. d***@mainfreight.com. 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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. He has an enviable track record of integrity and professionalism and wide ranging business experience. Thanks Mr Braid for sharing your knowledge and insight. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. I dont see this as a job, so therefore the stress levels arent as strong. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. +64 27 403 0148+64 9 905 [email protected], The Auckland Branch acknowledges the generous support of. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. 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. Of course, you might find a fantastic investment by looking at a different set of stocks. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. 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. BusinessDesk has a paywall for most of its content. You need to have been there 12 months to earn the full bonus that everybody else gets. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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 enter your email and well send you details. 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. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. If were going to build facilities for our people, we build very good facilities to be around for a long time. How does that actually work, practically? Us taking away that clock was about responsibility and about taking away that control from head office. What do those customers look for from us? 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. Out of that, I think weve got the culture really starting to develop. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. FINALIST The company is growing EPS and total shareholder returns have been pleasing. 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Previously, Don was a Political Columnist at Calgary Herald. 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 having empathy and I think Im patient, determined, have belief and energy. "There's no bureaucracy or hierarchy or superiority in the business. 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. Don: For us, its not about the short game, its about the long game. 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. Chief executive, Kiwibank DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. [3][4], When the company was founded it entered a highly regulated transport market. 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). Check out our latest analysis for Mainfreight. You know, people arrive when they arrive and they leave when they leave. Some of the leading players in the listed retirement sector have been raising capital. Zac: Whats a bit of business advice you can share? We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. Once it became a global pandemic we needed to react and adapt as quickly as we could. 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. 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 knows where the company is going and, more importantly, how it will get there. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Don Braid Brent is a senior reporter based in Queenstown. 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. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Group Managing Director, Mainfreight. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. "That gives us an enormous amount of opportunity.". Chosen from New Zealand's top companies, this year's Deloitte . Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. 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. Look after your people and theyll look after the business. Boards have a key role to play in the wake of any crisis. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Don: Its been interesting! He brings strong financial skills and business acumen to the role. Not living as a question mark but instead getting on with it and making those decisions. 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, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Musk Made a Mess at Twitter. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. Im not sure well see driverless trucks in NZ for some time to come. [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. They love this as it makes them feel supported and that I understand their role. 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. 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. Don: It should be where your skills are. This endeavor launched the first permanent investment into South America. 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. It has been listed on the New Zealand Exchange since 1996. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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 has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Chief executive, Air New Zealand CEO compensation can have a massive impact on performance, but it's just one element. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. 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. 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. 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.
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