See guidance for chairs and directors. Some people dont want any more responsibility they find their own ceiling and thats fine. Hi Tanya. 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. What are their requirements? [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. Get in touch with us directly. 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. The company is growing EPS and total shareholder returns have been pleasing. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . That's just a smallish increase of 6.9% on last year. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Don: I get out of the way. The Biosecurity Business Pledge group has launched two new biosecurity guides. 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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. 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. If were going to build facilities for our people, we build very good facilities to be around for a long time. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. 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 guess whats annoying is that we have got to wait for an election year to get this kind of stuff. 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. Not bad for a Kiwi trucking company! A table of ten booking is available for $1000.00, subject to availability at the time of booking. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. Don: I think empathy is really important. Musk Made a Mess at Twitter. Id also be really focused on being in touch with customers. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. So the weekly P&L puts them on the spot. Its great fun. 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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 11/5/2022 3:33 PM. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. Don: Its been interesting! You cant see yourself as an employer of 8500 people. Don: The culture is really important and our culture starts with those closest to the customer. Im not sure well see driverless trucks in NZ for some time to come. Boards have a key role to play in the wake of any crisis. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. 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. Subscribe to protect quality NZ journalism. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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. Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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. Zac: What is the Mainfreight way when it comes to culture? JUDGES COMMENTS [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. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Braid consistently delivers for shareholders and stakeholders alike. Don: For us, its not about the short game, its about the long game. 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. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. "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. Don Braid. 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. 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. 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. "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.". 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. 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 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Don Braid's Phone Number and Email Last Update. [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. [13] The transaction was completed on 6 June 2007. 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. See ourstandard terms and conditionsfor more information. We use functional and analytical cookies on our website to offer an optimal user experience. He attributed the. 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. So what you produce in terms of profitability is real. I will definitely be following the Mainfreight progress closely for when I return to NZ. Its an intimate touch with the P&L; the weeklies tell us lot. 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. Concerned about the content? 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? This endeavor launched the first permanent investment into South America. 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. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. 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. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. The firm's shares have been one of the best performing stocks on the NZX, returning more than 20 per cent in the year to date. Terms of use This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. COVID-19 has had a significant impact on freight and supply chains worldwide. So a lot is about the long game. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. FINALIST 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. | Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Where do we need to be? Cash flow is essential for any business survival. 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 NewZealand and internationally. 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. 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. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? His company has been a shining example of success amid tough global economic conditions. What are the things you do that maybe others dont do that actually make you lead this organization? "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. 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. Appointment to Board 2000 - With Mainfreight since 1994. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. [3] [4] When the company was founded it entered a highly regulated transport market. You know, people arrive when they arrive and they leave when they leave. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Alternatively, email editorial-team@simplywallst.com. 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.