Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Required fields are marked *. 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. I learned that early in the piece and I think its stood me in good stead. How do you measure this? We offer lots of training as well, internally and externally. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Well in Europe they had these time clocks. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Early on, New Zealand had great lessons to take to the rest of our network. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Experts say community investment is the future. Regionally, the NZ business saw an increase of 11.5% in profit before tax to $97.8m, though supply chain capacity into and from NZ remains congested, and the company is frustrated with international shipping lines". 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. 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 November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. He is an outstandingly consistent and capable chief executive. 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. 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. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. In the 12 months to March 31, Mainfreight - which has been one of the top performing stocks on the NZX this year - posted record sales of $1.34 billion. COVID-19 has had a significant impact on freight and supply chains worldwide. What else do we need to do to satisfy that bunch of customers? Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. I dont believe that. 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. "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. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". Not bad for a Kiwi trucking company! 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. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. 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. 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. Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. Its having empathy and I think Im patient, determined, have belief and energy. 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. [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. What are the things you do that maybe others dont do that actually make you lead this organization? Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. Its a huge level of success and theres satisfaction you get from that. [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. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. 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. He brings strong financial skills and business acumen to the role. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Don Braid (Mainfreight) Credit: Mainfreight . What more could I be doing in the business to actually grow my revenues in these difficult times? They have over 8500 staff in 280+ locations across 28 countries, so it was pretty cool (and humbling) for us to be able to chat to Don with some of our Business Changing clients recently. "He never moans about the currency and is always positive.". Biography CEO compensation can have a massive impact on performance, but it's just one element. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. He has led the company in strengthening its global logistics business and ensuring an increased diversification of revenue streams across many countries, trade lanes and activities provides natural protection for earnings. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. He attributed the. See guidance for chairs and directors. 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. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Thanks Mr Braid for sharing your knowledge and insight. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. 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. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. 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. The long-term effects must be carefully studied. So I think cashflow is king and Id be focused on that. 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). Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. 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. 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. 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. 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. As you get bigger, staff engagement and culture becomes more difficult. Whats changed? You know, people arrive when they arrive and they leave when they leave. You can follow him on Twitter, New tourism plan sidesteps immigration elephant, Mortgage arrears up as rates start to bite, Investors queue up ahead of Du Val liquidity events, Affordable housing levy sparks fear and loathing in Queenstown. Both are real legends and seem to really walk the talk. Click on [Agree] or [Disagree] to accept or refuse cookies. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. You cant see yourself as an employer of 8500 people. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. "He's sporting and tough and makes decisions quite fast," Plested says. 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. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. [4] This operation was expanded with depots in Melbourne and Brisbane. Appointment to Board 2000 - With Mainfreight since 1994. 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. Photo / Supplied . document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. 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. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. Formerly Halford Young, Halford is a private logistics company and freight forwarder with operations and networks in Australia and New Zealand, Japan, Germany, throughout Asia and the United States.[6]. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. [14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Agreement with print tech giant Canon saves college thousands. "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.". While there was someone in the drivers seat, the computer took over the vehicle. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. 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. By using this website you consent to the use of cookies in accordance with our privacy policy. Of course, you might find a fantastic investment by looking at a different set of stocks. To join your company account for BusinessDesk and enjoy full access, If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Don: It should be where your skills are. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. And if you dont make a profit, theres no bonus that year. And what do you believe leaders need to excel at? "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. Everyone stands on their own two feet. 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. [3] [4] When the company was founded it entered a highly regulated transport market. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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 ask our people to recruit very good people with passion and energy; people good enough to become branch managers. 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.
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