don braid mainfreight net worth

Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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. And thats why we travel a lot when you visit, you can smell the morale in an instant. Don: Um, I think its recognising good people. In 2008, the United States locations were re-branded as Mainfreight USA. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. "He never talks about himself and always talks about long-term goals," Hunt says. 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). Its a huge level of success and theres satisfaction you get from that. I really want to be in front of those customers! Its great fun. This article by Simply Wall St is general in nature. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. What havent we got right? "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. As you get bigger, staff engagement and culture becomes more difficult. The company is growing EPS and total shareholder returns have been pleasing. In addition, we use tracking cookies, which can collect information about you and follow your internet activity within our website, and possibly outside our website as well. don@mainfreight.com; Profile. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. CEO compensation can have a massive impact on performance, but it's just one element. To join your company account for BusinessDesk and enjoy full access, 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. What do those customers look for from us? Im not sure well see driverless trucks in NZ for some time to come. COVID-19 has had a significant impact on freight and supply chains worldwide. Don: For us, its not about the short game, its about the long game. Mainfreight shareholders would be similarly pleased. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. 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. "If you allow the recession to roll over the top of you there's a great chance it will.". So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Whats changed? Hes the right man for the job at just the right time. Experts say community investment is the future. By using this website you consent to the use of cookies in accordance with our privacy policy. [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. Hi Tanya. Should it change? Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. He attributed the. Is our service or a product still current? 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. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. I'm pleased I didn't do anything else.". What we put in place here in New Zealand became the blueprint for the organization around the world. 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. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Hamish. [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. 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. Mainfreight people, he says, don't "live in question marks". In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. 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. I dont believe that. So we are developing our people to be the best they possibly can be. Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys' High School and has over 43 years' experience in freight forwarding and logistics both New Zealand and internationally. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. Zac: How do you prioritise where to spend your time in a normal week? 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. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Media enquiries Zac: Don, your 100-year vision how does that work? "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. Required fields are marked *. We're trying to break all that down.". The NZ team, who had really done a great job through the Kaikoura and Christchurch earthquakes, quickly put together a plan on how to react. Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. 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. Don: I get out of the way. They know that now and can alter those decisions as they head into the week in front of them. How do you maintain a positive culture and a time of crisis? Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. 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. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. Not living as a question mark but instead getting on with it and making those decisions. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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. I will definitely be following the Mainfreight progress closely for when I return to NZ. Other Current Directorships: 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. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. How do I gain more customers? Us taking away that clock was about responsibility and about taking away that control from head office. Don: The recruitment of our people sits with the branch managers. So what you produce in terms of profitability is real. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. His company has been a shining example of success amid tough global economic conditions. I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. 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. While there was someone in the drivers seat, the computer took over the vehicle. Don Braid of Mainfreight Limited presents key insights for directors about freight and supply chain patterns in the current climate. 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". 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. Your email address will not be published. Don from Mainfreight talks to Fisher Funds. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. If were going to build facilities for our people, we build very good facilities to be around for a long time. FINALIST 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 applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. 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. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. To trust your people too, to give them the responsibility. National's three waters policy is only cosmetically distinct from Labour's. Don: The culture is really important and our culture starts with those closest to the customer. 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. Chief executive, Air New Zealand So a lot is about the long game. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Will be fundamentally different from the last one. Don Braid. But the excitement is justified. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. In light of current trends, we will provide a nine-month trading update mid-February 2022. We aim to bring you long-term focused analysis driven by fundamental data. Appointment to Board 2000 - With Mainfreight since 1994. He is an outstandingly consistent and capable chief executive. Another attribute is straight talking. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. "He implements things very well and you don't have to remind him about anything you're trying to achieve. Its revenue is up 5.9% over the last year. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Email. 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 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. Do also serves as a member of the Board of the Starship foundation. 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. This strong performance might mean some shareholders don't mind if the CEO were to be paid more than is normal for a company of its size. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. | 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. Engage via Email. 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. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. 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. So everything that we do is about being here for a long time. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. 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. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. Rob Fyfe In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. 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. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. Shareholders would be glad to know that the company has improved itself over the last few years. 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. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. His father was a truck driver, but he says that didn't influence his career decisions. See ourstandard terms and conditionsfor more information. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Get in touch with us directly. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. 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. Youve got to break it down. He owns a 3 per cent stake in the firm, worth about $29 million. 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). Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Check out our latest analysis for Mainfreight. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. 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. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Thats the key. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. What are the things you do that maybe others dont do that actually make you lead this organization? Braid consistently delivers for shareholders and stakeholders alike. 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. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. 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. 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. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Privacy policy Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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. Zac: Whats a bit of business advice you can share? Save my name, email, and website in this browser for the next time I comment. The long-term effects must be carefully studied. Boards have a key role to play in the wake of any crisis. So youre not only giving them a responsibility for the P&L, but youre also giving them the responsibility of whos going to join our family. Don: Im not sure its stress. "That gives us an enormous amount of opportunity.". 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. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. He's got plenty of charm if he wants to have it and his leadership skills just stand out people want to stand next to him, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. You can be profitable and not collect the cash and go broke. And thats that. Out of that, I think weve got the culture really starting to develop. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths.