But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . 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. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? Email. We offer lots of training as well, internally and externally. 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. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Don: With this event in front of us right now, I think cash is king, and the collection of cash. Your email address will not be published. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. But, he said, the groups response at the outset of the pandemic had been unequivocal. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. What are the things you do that maybe others dont do that actually make you lead this organization? Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Its an intimate touch with the P&L; the weeklies tell us lot. Save my name, email, and website in this browser for the next time I comment. So you need to be committed for the long term.The clich about the beach, the BMW and the boat it looks pretty attractive after 10 years of hard work but what could you have created after a hundred years and have you got something thats a bit special?I think you need passion, energy, belief and the ability to develop people to run the business for the future. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. Theres no bullshit in the numbers, they are what the business has earned. 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. 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. 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). Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. 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. 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. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. So the weekly P&L puts them on the spot. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. The key for me is to be in the business as much as possible, to be visible. Group Managing Director, Mainfreight. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. You need to have been there 12 months to earn the full bonus that everybody else gets. For me its being in the business, with people and in particular with customers. How does that actually work, practically? It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Engage via Email. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Don: I think empathy is really important. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. 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. I dont see this as a job, so therefore the stress levels arent as strong. You can be profitable and not collect the cash and go broke. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Rob Fyfe [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Don: I think its quite a long way off. Boards have a key role to play in the wake of any crisis. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. "There's no bureaucracy or hierarchy or superiority in the business. 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. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Mainfreight's net profit rose by $40.1m to $188.1m. 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. Some people dont want any more responsibility they find their own ceiling and thats fine. Component 2020 Out of that, I think weve got the culture really starting to develop. In light of current trends, we will provide a nine-month trading update mid-February 2022. 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. So we are developing our people to be the best they possibly can be. Another attribute is straight talking. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. And then its about exploring the long game. What else do we need to do to satisfy that bunch of customers? The relationships we develop, both with suppliers and with customers, are there for the long term. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Alternatively, email editorial-team@simplywallst.com. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? "We've been in China for 20 years. Zac: Don, having a decentralized business, whats been your approach to leadership? 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. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. "That gives us an enormous amount of opportunity.". If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Weve made this article available for free. Some of the leading players in the listed retirement sector have been raising capital. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Appointment to Board 2000 - With Mainfreight since 1994. So a lot is about the long game. 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. 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.. Don Braid's Phone Number and Email Last Update. 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. JUDGES COMMENTS 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. That was uppermost in our mind. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. Group Managing Director at Mainfreight NZ . "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Subscribe to protect quality NZ journalism. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. He attributed the. Don: Theres been lots of things actually, like electric forklifts, the use of solar power Heres a good example: in New Zealand weve never had time clocks. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. He is an outstandingly consistent and capable chief executive. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Its revenue is up 5.9% over the last year. Other Current Directorships: 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. We aim to bring you long-term focused analysis driven by fundamental data. For more information, please visit our cookie statement. 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. National's three waters policy is only cosmetically distinct from Labour's. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. [3][4], When the company was founded it entered a highly regulated transport market. 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. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, What Do You Want to See in a Covid Memorial? I dont believe that. Chief executive, Air New Zealand The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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. His father was a truck driver, but he says that didn't influence his career decisions. 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. 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. "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. 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. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses.
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