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. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Don: Well, the numbers never lie, right? Required fields are marked *. 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. 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. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. 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. For more information, please visit our cookie statement. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. 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. Thanks for your comments about Don Braid and Mainfreight. Im not sure well see driverless trucks in NZ for some time to come. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Weve made this article available for free. Rob Fyfe If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. They know that now and can alter those decisions as they head into the week in front of them. So we are developing our people to be the best they possibly can be. While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. Privacy policy We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. As a young salesperson aged 19, I couldnt make a cold call. CEO compensation can have a massive impact on performance, but it's just one element. Is our service or a product still current? 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: Um, I think its recognising good people. How do you measure this? 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. 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. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. In light of current trends, we will provide a nine-month trading update mid-February 2022. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Don Braid (Mainfreight) Credit: Mainfreight . On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. 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. 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. 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. We use functional and analytical cookies on our website to offer an optimal user experience. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Mainfreight's straight-talking group managing director has an infectious zest for business. It has been listed on the New Zealand Exchange since 1996. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. Hi Tanya. 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. I suppose were grooming people all the time for those loaded leadership roles. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. They love this as it makes them feel supported and that I understand their role. I think our owner drivers are a key component of the relationship with the customer. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Don: I get out of the way. The Asian business saw profits more than double to US$7m, driven by increases in market share and rate increases from both air and see freight, the firm said. 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. 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. Youve got to break it down. And thats that. Zac: Don, having a decentralized business, whats been your approach to leadership? If you trust your people, look after them and give them responsibility, theyll deliver. 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. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Email. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. The key for me is to be in the business as much as possible, to be visible. Don: For us, its not about the short game, its about the long game. I just have a belief and determination that weve got a pretty good business here. Its having empathy and I think Im patient, determined, have belief and energy. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. He is an outstandingly consistent and capable chief executive. 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. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Alternatively, email editorial-team@simplywallst.com. 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. 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. enter your email and well send you details. Zac: Don, your 100-year vision how does that work? We aim to bring you long-term focused analysis driven by fundamental data. 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. 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. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Whats interesting when you go into a pandemic or an event like this is what the balance sheet looks like. "He implements things very well and you don't have to remind him about anything you're trying to achieve. Its a huge level of success and theres satisfaction you get from 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. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Bryan has a wealth of experience, both in executive and board roles. People thrive on being given responsibility. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. And thats why we travel a lot when you visit, you can smell the morale in an instant. 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. Group Managing Director at Mainfreight NZ . 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. 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. But the excitement is justified. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Chosen from New Zealand's top companies, this year's Deloitte . Don Braid. Contact. Who wouldnt want exposure to the retirement sector? New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. 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. 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. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. 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. 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. 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. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. Its great fun. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network.
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