In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. Our subscriptions start at $24 / month for individuals. Insurers support an immediate managed retreat for recent flood victims. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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. But the excitement is justified. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. 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. Copyright 2023 Institute of Directors The CEO of Mainfreight Limited (NZSE:MFT) is Don Braid, and this article examines the executive's compensation against the backdrop of overall company performance. [3][4], When the company was founded it entered a highly regulated transport market. 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. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Don: Well, the numbers never lie, right? The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. As you get bigger, staff engagement and culture becomes more difficult. Required fields are marked *. 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. Engage via Email. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport. So we are developing our people to be the best they possibly can be. 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. Photo / Supplied . Sam Knowles A table of ten booking is available for $1000.00, subject to availability at the time of booking. That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. 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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. "That gives us an enormous amount of opportunity.". You may withdraw your consent at any time. Component 2020 As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. 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. Zac: Whats a bit of business advice you can share? Youve got to have good outlets. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Don: It should be where your skills are. 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. | 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. 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. "If you allow the recession to roll over the top of you there's a great chance it will.". Prior to joining Air New Zealand, he held range of senior management positions both within New Zealand and overseas, including roles with the National Australia Bank, Bank of New Zealand, Telecom NZ and ITV Group in the UK. [3] [4] When the company was founded it entered a highly regulated transport market. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. Nothing drives home the state of our roads like a trip on a bike. 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. enter your email and well send you details. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. His father was a truck driver, but he says that didn't influence his career decisions. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. 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. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. How are we changing the business accordingly? Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. So weve got eight and a half thousand people and 282 locations. [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. 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. Early on, New Zealand had great lessons to take to the rest of our network. Mainfreight shareholders would be similarly pleased. Watson said she did not believe bonuses were a way. Well in Europe they had these time clocks. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. But, he said, the groups response at the outset of the pandemic had been unequivocal. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Agreement with print tech giant Canon saves college thousands. Previously, Don was a Political Columnist at Calgary Herald. Moving away from current form for a second, it could be important to check this free visual depiction of what analysts expect for the future. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. "I don't think any of those things are really of interest to this," he says. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Musk Made a Mess at Twitter. 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. Don: I get out of the way. 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Not bad for a Kiwi trucking company! 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. 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. | And if you dont make a profit, theres no bonus that year. Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. It only represents a small part of our revenue, but . [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Us taking away that clock was about responsibility and about taking away that control from head office. And thats why we travel a lot when you visit, you can smell the morale in an instant. 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.
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