Save my name, email, and website in this browser for the next time I comment. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. The long-term effects must be carefully studied. Zac: How do you prioritise where to spend your time in a normal week? His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, 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. 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. 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 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). In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. FINALIST Component 2020 Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. The price of the rights fell as low as 7.5 cents on the last day of trading. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. 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. [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. [3] [4] When the company was founded it entered a highly regulated transport market. 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.. 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. "He's sporting and tough and makes decisions quite fast," Plested says. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? So everything that we do is about being here for a long time. Thanks Mr Braid for sharing your knowledge and insight. Today he chairs a group of telecommunication companies. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. 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. 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. I really want to be in front of those customers! Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Shareholders would be glad to know that the company has improved itself over the last few years. Youve got to break it down. Previously, Don was a Political Columnist at Calgary Herald. 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. 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. [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. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Chief executive, Mainfreight 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. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. This article by Simply Wall St is general in nature. Get in touch with us directly. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. Don Braid. 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. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport. 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. Will be fundamentally different from the last one. Mainfreight declares flat dividend, hands back $11m wage subsidy Photo / Supplied . But the excitement is justified. What are their requirements? 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. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. 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. 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. Don: I get out of the way. 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. Boards have a key role to play in the wake of any crisis. 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 has clear vision of what it will take to navigate the unforgiving roads and heavy traffic of the international freight marketplace and so far he has kept this business right on track. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. 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. 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. 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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. Will His AI Plans Be Any Different? Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? People thrive on being given responsibility. 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. Thats the key. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. 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It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Whats changed? 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. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Don Braid's Phone Number and Email Last Update. Zac: Lets talk more about those weekly P&Ls. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. enter your email and well send you details. 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. COVID-19 has had a significant impact on freight and supply chains worldwide. 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. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. I'm pleased I didn't do anything else.". Richard Prebble is by profession a lawyer. 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. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. National's three waters policy is only cosmetically distinct from Labour's. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Concerned about the content? I learned that early in the piece and I think its stood me in good stead. Mainfreight shareholders would be similarly pleased. "I just think that's disgusting," he says. If were going to build facilities for our people, we build very good facilities to be around for a long time. While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. 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 Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. 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. Zac: Can you share more about your profit share? Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom I think our owner drivers are a key component of the relationship with the customer. Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. You cant see yourself as an employer of 8500 people. It has been listed on the New Zealand Exchange since 1996. And then its about exploring the long game. 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. It now has 22 company depots in Australia and relies on agents and third parties in the Northern Territory, Tasmania and some of regional Australia. 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. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Not bad for a Kiwi trucking company! Chosen from New Zealand's top companies, this year's Deloitte . Weve got examples of that in our business right now. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. [13] The transaction was completed on 6 June 2007. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. As a young salesperson aged 19, I couldnt make a cold call. 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). Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. 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. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. We offer lots of training as well, internally and externally. Some people dont want any more responsibility they find their own ceiling and thats fine. Rob Fyfe What else do we need to do to satisfy that bunch of customers? Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like.
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