don braid mainfreight net worth

Q&A with Mainfreight's Don Braid - Business Changing By using this website you consent to the use of cookies in accordance with our privacy policy. For me its being in the business, with people and in particular with customers. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. So long term, we have a really experienced leadership team. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. 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. 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 from Mainfreight talks to Fisher Funds. Its the individuals responsibility to arrive on time and stay until the jobs finished. 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. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. They love this as it makes them feel supported and that I understand their role. Well in Europe they had these time clocks. Youve got to have good outlets. Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. CEO compensation can have a massive impact on performance, but it's just one element. 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. The Group MD & Director of Mainfreight Limited (NZSE:MFT), Donald Braid That's ambitious, even . 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. 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. 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. So weve got eight and a half thousand people and 282 locations. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. At the end of the day, the decisions they made will be seen in the weekly results. Please note that with cookies disabled you will have a degraded experience with some features. The key for me is to be in the business as much as possible, to be visible. Shareholders would be glad to know that the company has improved itself over the last few years. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. You can be profitable and not collect the cash and go broke. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. 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. BusinessDesk has a paywall for most of its content. What havent we got right? He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. "If you allow the recession to roll over the top of you there's a great chance it will.". Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. Where do we need to be? You need to have been there 12 months to earn the full bonus that everybody else gets. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. 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. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. Engage via Email. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. 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". Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom | Its revenue is up 5.9% over the last year. 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. The company is growing EPS and total shareholder returns have been pleasing. Your email address will not be published. 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). 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. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . The price of the rights fell as low as 7.5 cents on the last day of trading. What have we got right? 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. 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. So what you produce in terms of profitability is real. 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. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Don Braid's Phone Number and Email Last Update. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. 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. 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. Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets. Don Braid (Mainfreight) Credit: Mainfreight . This endeavor launched the first permanent investment into South America. So we are developing our people to be the best they possibly can be. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Don: The culture is really important and our culture starts with those closest to the customer. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, What Do You Want to See in a Covid Memorial? "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Required fields are marked *. [3][4], When the company was founded it entered a highly regulated transport market. 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. Lessons from the Managing Director of one of NZ's most successful As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. So the weekly P&L puts them on the spot. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? [3] [4] When the company was founded it entered a highly regulated transport market. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Deloitte Top 200 Award Winners Announced for 2019 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. 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. Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. "I probably wasn't qualified enough to go to university," Braid says. Not bad for a Kiwi trucking company! 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. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . His intellect and pragmatic approach is highly regarded at the Board table. Id also be really focused on being in touch with customers. To join your company account for BusinessDesk and enjoy full access, The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Wed rather own assets than lease them. "I don't think any of those things are really of interest to this," he says. "We've been in China for 20 years. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. Early on, New Zealand had great lessons to take to the rest of our network. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Everyone stands on their own two feet. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. 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. You cant see yourself as an employer of 8500 people. "That gives us an enormous amount of opportunity.". Appointment to Board 2000 - With Mainfreight since 1994. Previously, Don was a Political Columnist at Calgary Herald. And thats why we travel a lot when you visit, you can smell the morale in an instant. Media enquiries With Don Braid at the wheel, Mainfreight is in safe and skilful hands. d***@mainfreight.com. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Learn more. "He implements things very well and you don't have to remind him about anything you're trying to achieve. 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. 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.. But the excitement is justified. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. 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. Mainfreight's $43.9m 'family' bonus | BusinessDesk Richard Prebble is by profession a lawyer. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. Weve got examples of that in our business right now. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. 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. He is unquestionably our Deloitte/Management magazine Top 200 Executive of the Year. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. That was uppermost in our mind. [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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? We offer lots of training as well, internally and externally. 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. Other Current Directorships: Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Zac: Don, your 100-year vision how does that work? And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Mainfreight Half Year Financial Results 30 September 2021 - NZX Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. Zac: Don, what makes you good? And if you dont make a profit, theres no bonus that year. 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). 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). 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. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. 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. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Whats changed? Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. I dont see this as a job, so therefore the stress levels arent as strong. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Im not sure well see driverless trucks in NZ for some time to come. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. 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@mainfreight.com; Profile. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. Component 2020 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. So take a peek at this free list of interesting companies. Don Braid. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes.

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