Group Managing Director, Mainfreight. "I probably wasn't qualified enough to go to university," Braid says. 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. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. If you trust your people, look after them and give them responsibility, theyll deliver. Group Managing Director at Mainfreight NZ . Don: For us, its not about the short game, its about the long game. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Im not sure well see driverless trucks in NZ for some time to come. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Some people dont want any more responsibility they find their own ceiling and thats fine. So I think cashflow is king and Id be focused on that. 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 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. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. [3] [4] When the company was founded it entered a highly regulated transport market. Please note that with cookies disabled you will have a degraded experience with some features. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. "He implements things very well and you don't have to remind him about anything you're trying to achieve. Don: I think empathy is really important. Don Braid. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Check out our latest analysis for Mainfreight. Its revenue is up 5.9% over the last year. In light of current trends, we will provide a nine-month trading update mid-February 2022. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Learn more. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Today he chairs a group of telecommunication companies. 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. Our subscriptions start at $24 / month for individuals. Look after your people and theyll look after the business. This endeavor launched the first permanent investment into South America. "I don't think any of those things are really of interest to this," he says. I dont see this as a job, so therefore the stress levels arent as strong. That's ambitious, even . The firm has earned a reputation within the market for being slickly-run. Id also be really focused on being in touch with customers. 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. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. 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. Hamish. 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. It has been listed on the New Zealand Exchange since 1996. Agreement with print tech giant Canon saves college thousands. The Mainfreight board is intent on doubling revenue to $2 billion by 2015, mostly from international earnings, and Mr Braid envisages at least 500 branches before too long. Click on [Agree] or [Disagree] to accept or refuse cookies. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. And then its about exploring the long game. 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. Zac: How do you prioritise where to spend your time in a normal week? "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. To trust your people too, to give them the responsibility. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Nothing drives home the state of our roads like a trip on a bike. I just have a belief and determination that weve got a pretty good business here. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom "If you allow the recession to roll over the top of you there's a great chance it will.". 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. 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. Mainfreight shareholders would be similarly pleased. I suppose were grooming people all the time for those loaded leadership roles. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Who wouldnt want exposure to the retirement sector? Theres no bullshit in the numbers, they are what the business has earned. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Terms of use Zac: Don, your 100-year vision how does that work? Were thinking about being around for a hundred years. BusinessDesk has a paywall for most of its content. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. 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. The Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. [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. Its great fun. 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. Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. 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). We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Mainfreight's net profit rose by $40.1m to $188.1m. I really want to be in front of those customers! "I just think that's disgusting," he says. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Despite international growth and success, Braid is passionate about keeping the company proudly Kiwi-owned and has been an outspoken voice on local transport and infrastructure matters. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. 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: Its been interesting! Don: Im not sure its stress. Thats the key. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. | If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. So weve got eight and a half thousand people and 282 locations. Us taking away that clock was about responsibility and about taking away that control from head office. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Will be fundamentally different from the last one. Educated at Timaru Boys High School, Braid has been described as possibly the most self-effacing leader of major listed company in New Zealand and is widely regarded as straight-talking and strong leader. Mainfreight managing director Don Braid. Mainfreight people, he says, don't "live in question marks". 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. I dont believe that. 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. And thats why we travel a lot when you visit, you can smell the morale in an instant. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Kiwis know the firm largely through its blue trucks that ply our highways, but the company also utilises sea, train and air freight to transport goods around the world. Don from Mainfreight talks to Fisher Funds. 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. And I suppose the key thing that we had in our mind was how are we going to run this business to survive and not make anybody redundant. 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. 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. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. By using this website you consent to the use of cookies in accordance with our privacy policy. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. You know, people arrive when they arrive and they leave when they leave. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. 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. He brings strong financial skills and business acumen to the role. Of course, you might find a fantastic investment by looking at a different set of stocks. [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. I learned that early in the piece and I think its stood me in good stead. The key for me is to be in the business as much as possible, to be visible. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. See guidance for chairs and directors. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Don Braid. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. Braid consistently delivers for shareholders and stakeholders alike. To join your company account for BusinessDesk and enjoy full access, "He never talks about himself and always talks about long-term goals," Hunt says. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". 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. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. Whats changed? Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. For me its being in the business, with people and in particular with customers. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Is our service or a product still current? For more information, please visit our cookie statement. 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. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? 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. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. 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. Chief executive, Mainfreight I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on.