don braid mainfreight net worth

Don: Its been interesting! 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. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Other Current Directorships: 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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. 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. Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. 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. Richard Prebble is by profession a lawyer. Mainfreight half year net profit lifts 79 per cent despite supply chain Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. I learned that early in the piece and I think its stood me in good stead. [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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. | It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. 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 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. 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. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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. Please note that with cookies disabled you will have a degraded experience with some features. Rob Fyfe Part of our recruitment process is to get them to go through the system and learn the business from the floor up: you start by pushing a broom or running documents to Customs. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. National's three waters policy is only cosmetically distinct from Labour's. Another attribute is straight talking. 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. Lessons from the Managing Director of one of NZ's most successful "He's sporting and tough and makes decisions quite fast," Plested says. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Where do we need to be? I dont believe that. We offer lots of training as well, internally and externally. This article by Simply Wall St is general in nature. "If you allow the recession to roll over the top of you there's a great chance it will.". PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Appointment to Board 2000 - With Mainfreight since 1994. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. Thanks Mr Braid for sharing your knowledge and insight. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Sam Knowles Look after your people and theyll look after the business. FINALIST Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Wed rather own assets than lease them. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. 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. How do you measure this? If you trust your people, look after them and give them responsibility, theyll deliver. 11/5/2022 3:33 PM. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Brent is a senior reporter based in Queenstown. 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. 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). 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]. I will definitely be following the Mainfreight progress closely for when I return to NZ. Hamish. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. Director Profiles - Mainfreight Zac: Don, what makes you good? Get in touch with us directly. People thrive on being given responsibility. 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. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. 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. Group Managing Director, Mainfreight. 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. The Biosecurity Business Pledge group has launched two new biosecurity guides. "I just think that's disgusting," he says. Whats changed? They love this as it makes them feel supported and that I understand their role. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Mainfreight people, he says, don't "live in question marks". enter your email and well send you details. By using this website you consent to the use of cookies in accordance with our privacy policy. At the end of the day, the decisions they made will be seen in the weekly results. His intellect and pragmatic approach is highly regarded at the Board table. I just have a belief and determination that weve got a pretty good business here. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Weve got examples of that in our business right now. Business Leader of the Year 2011 Winner: Don Braid - NZ Herald 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. [3][4], When the company was founded it entered a highly regulated transport market. "It's just a little rule that we've had because if they [analysts] keep calling us a trucking company they clearly haven't done their research.". How does that actually work, practically? Don: I think its quite a long way off. The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. Don Braid (Mainfreight) Credit: Mainfreight . That was uppermost in our mind. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. [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. The long-term effects must be carefully studied. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. 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]. "He never talks about himself and always talks about long-term goals," Hunt says. 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. Well in Europe they had these time clocks. "He never moans about the currency and is always positive.". I feed off that and suppose the people in our business like seeing that and see it as an example and follow. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. d***@mainfreight.com. The branch managers are the kings and queens, by the way, because thats where the moneys made the national team is just there to support the branch managers. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. 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.. The company is growing EPS and total shareholder returns have been pleasing. 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. | 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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Hes the right man for the job at just the right time. Don: The recruitment of our people sits with the branch managers. It only represents a small part of our revenue, but . 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. You know, people arrive when they arrive and they leave when they leave. 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Early on, New Zealand had great lessons to take to the rest of our network. So a lot is about the long game. Weve made this article available for free. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Who wouldnt want exposure to the retirement sector? We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. So long term, we have a really experienced leadership team. Hi Tanya. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Id also be really focused on being in touch with customers. 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. 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@mainfreight.com; Profile. 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. 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.