don braid mainfreight net worth

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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Once it became a global pandemic we needed to react and adapt as quickly as we could. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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: The recruitment of our people sits with the branch managers. Appointment to Board 2000 - With Mainfreight since 1994. 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. Will His AI Plans Be Any Different? 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. He has an enviable track record of integrity and professionalism and wide ranging business experience. Group Managing Director, Mainfreight. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. Not bad for a Kiwi trucking company! Chief executive, Kiwibank Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Pot vote has Oklahoma hungry to rake in green from Texas, How Ron DeSantis misreads Corporate America, Tesla recalls 3,470 Model Y vehicles over loose bolts, 3 big things in investing you might have missed this week, UPDATE 1-North Korea says US causing international arms control collapse. See ourstandard terms and conditionsfor more information. Media enquiries So I think cashflow is king and Id be focused on that. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Its a huge level of success and theres satisfaction you get from that. You need to have been there 12 months to earn the full bonus that everybody else gets. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. Wed rather own assets than lease them. Don: Um, I think its recognising good people. By the way, its not just about us seeing those numbers. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? So it looks like Mainfreight compensates Don Braid in line with the median for the industry. The relationships we develop, both with suppliers and with customers, are there for the long term. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Youve got to break it down. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. 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. [10] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of 8.2 million or $14 million. 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. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! He is an outstandingly consistent and capable chief executive. What we put in place here in New Zealand became the blueprint for the organization around the world. 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. Its having empathy and I think Im patient, determined, have belief and energy. Your email address will not be published. Required fields are marked *. 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. Don: For us, its not about the short game, its about the long game. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. 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. 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Another attribute is straight talking. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Zac: What are your thoughts on driverless trucks and how they will affect Mainfreight? 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. Whats changed? For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. "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. 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. We were lucky enough to have a really incredible chat with Mainfreight CEO Don Braid about what he has learnt as the CEO of Mainfreight. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. So a lot is about the long game. Zac: What is the Mainfreight way when it comes to culture? He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. Mainfreight people, he says, don't "live in question marks". On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. But the excitement is justified. 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. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. In his results commentary, Braid said the results were pleasing in light of initial supply chain disruptions during the early part of the year, on the back of lockdowns in response to the global pandemic. By using this website you consent to the use of cookies in accordance with our privacy policy. Component 2020 Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. To trust your people too, to give them the responsibility. Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. Since the acquisition of the Wim Bosman Group the eurozone has spiralled to the brink of economic disaster, but 52-year-old Braid says doing business on the debt-ravaged continent is nothing other than an "exciting" prospect. 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. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Q&A with Mainfreight's Don Braid - Business Changing As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Mainfreight's $43.9m 'family' bonus | BusinessDesk Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. 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. Some of the leading players in the listed retirement sector have been raising capital. They love this as it makes them feel supported and that I understand their role. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. 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. Engage via Email. Will be fundamentally different from the last one. The key for me is to be in the business as much as possible, to be visible. 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. 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. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". I dont believe that. Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. 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. Mainfreight half year net profit lifts 79 per cent despite supply chain 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. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. We dont call them staff for us, they are our people or our team. What more could I be doing in the business to actually grow my revenues in these difficult times? 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. The long-term effects must be carefully studied. Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid 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. Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. We use functional and analytical cookies on our website to offer an optimal user experience. His intellect and pragmatic approach is highly regarded at the Board table. 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. 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. 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]. d***@mainfreight.com. | But well and behold, were in the perfect position not a lot of debt, trading really well, coming off a really good financial year the year before. So what you produce in terms of profitability is real. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. 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. Boards have a key role to play in the wake of any crisis. Click on [Agree] or [Disagree] to accept or refuse cookies. Where do we need to be? Not living as a question mark but instead getting on with it and making those decisions. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. 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. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. Weve made this article available for free. We aim to bring you long-term focused analysis driven by fundamental data. That's ambitious, even . So long term, we have a really experienced leadership team. For more information, please visit our cookie statement. I dont see this as a job, so therefore the stress levels arent as strong. They know that now and can alter those decisions as they head into the week in front of them. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo 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. Mainfreight's net profit rose by $40.1m to $188.1m. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. National's three waters policy is only cosmetically distinct from Labour's. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. 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.. | Im not sure well see driverless trucks in NZ for some time to come. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results.

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