don braid mainfreight net worth

Don: Um, I think its recognising good people. Its the individuals responsibility to arrive on time and stay until the jobs finished. | 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. Mainfreight half year net profit lifts 79 per cent despite supply chain He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. 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. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Theres no cross subsidies. Your email address will not be published. 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. 11/5/2022 3:33 PM. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. 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. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Read More . Appointment to Board 2000 - With Mainfreight since 1994. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Who wouldnt want exposure to the retirement sector? Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. "That gives us an enormous amount of opportunity.". And what do you believe leaders need to excel at? It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. As you get bigger, staff engagement and culture becomes more difficult. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Director Profiles - Mainfreight Required fields are marked *. An unabashed promoter of New Zealand success, he has an extensive background in the banking industry in New Zealand and Australia, with senior management experience in marketing, strategic planning, retail services and business development. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. "It's not about what I've done - it's about what we've done and what the business has done," he says. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. 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]. 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. Check out our latest analysis for Mainfreight. See the full transcript below. 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. So each person can earn some more money by not just making profit, but keeping customers happy, keeping claims to a lower amount, making sure were collecting cash, making sure that were delivering freight in full and on time but the base bonus, everybody gets the same amount no matter whether youve been there for one year or for 40 years and no matter what your position is. "He never talks about himself and always talks about long-term goals," Hunt says. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. 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. 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. He knows where the company is going and, more importantly, how it will get there. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. How are we changing the business accordingly? Subscribe to protect quality NZ journalism. So we are developing our people to be the best they possibly can be. 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. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. Group Managing Director at Mainfreight NZ . 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 company is growing EPS and total shareholder returns have been pleasing. [4] This operation was expanded with depots in Melbourne and Brisbane. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. That was uppermost in our mind. And thats that. Wed rather own assets than lease them. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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? "He implements things very well and you don't have to remind him about anything you're trying to achieve. 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. 5 November 2019 - Mainfreight's Don Braid has reinforced his reputation as one of New Zealand's most successful executives, being named Executive of the Decade at the 2019 Deloitte Top 200 Awards in Auckland tonight (5 December 2019).Mainfreight was also named Company of the Year, sponsored by Deloitte Digital and Marsh. 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. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Early on, New Zealand had great lessons to take to the rest of our network. 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. Email. Don: For us, its not about the short game, its about the long game. Don: I think its quite a long way off. 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. 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. While there was someone in the drivers seat, the computer took over the vehicle. Previously, Don was a Political Columnist at Calgary Herald. I will definitely be following the Mainfreight progress closely for when I return to NZ. The price of the rights fell as low as 7.5 cents on the last day of trading. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Everyone stands on their own two feet. Don Braid. 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? You know, people arrive when they arrive and they leave when they leave. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Chief executive, Air New Zealand Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Appointment to Board 2000 - With Mainfreight since 1994. That's just a smallish increase of 6.9% on last year. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. How we can fix New Zealand's ports - Don Braid | BusinessDesk The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Don from Mainfreight talks to Fisher Funds. As a young salesperson aged 19, I couldnt make a cold call. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. Zac: How do you prioritise where to spend your time in a normal week? [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. Some of the leading players in the listed retirement sector have been raising capital. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. A table of ten booking is available for $1000.00, subject to availability at the time of booking. By the way, its not just about us seeing those numbers. Its a huge level of success and theres satisfaction you get from that. CEO compensation can have a massive impact on performance, but it's just one element. But the excitement is justified. I just have a belief and determination that weve got a pretty good business here. 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. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! Cash flow is essential for any business survival. 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. 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. Well in Europe they had these time clocks. FINALIST Mainfreight - Wikipedia How does that actually work, practically? Both are real legends and seem to really walk the talk. 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. "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.". Simply Wall St has no position in any stocks mentioned.Have feedback on this article? In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Where should we open next? Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. He is an outstandingly consistent and capable chief executive. Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. Don: Well, the numbers never lie, right? 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. Don: It should be where your skills are. 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. 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. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Mainfreight shareholders would be similarly pleased. The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. 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 might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Im not sure well see driverless trucks in NZ for some time to come. The firm has earned a reputation within the market for being slickly-run. Braid recalls with horror the memory of listening to a chief executive refer to her workers as "FTEs" - full-time equivalents - during a radio interview. The key for me is to be in the business as much as possible, to be visible. Shareholders would be glad to know that the company has improved itself over the last few years. enter your email and well send you details. We dont call them staff for us, they are our people or our team. "I don't think any of those things are really of interest to this," he 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. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. 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 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. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. Mainfreight's $43.9m 'family' bonus | BusinessDesk Brent is a senior reporter based in Queenstown. Don: The recruitment of our people sits with the branch managers. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. They love this as it makes them feel supported and that I understand their role. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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. 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 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. We aim to bring you long-term focused analysis driven by fundamental data. Rob Fyfe 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. 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. Not bad for a Kiwi trucking company! 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. 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. 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. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. Alternatively, email editorial-team@simplywallst.com. 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. Bryan has a wealth of experience, both in executive and board roles. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. 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. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. Those are the real world indicators of whether youve got morale correct or not or whether youve got some issues going on you need to address.

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