What we put in place here in New Zealand became the blueprint for the organization around the world. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Yes, wed committed an enormous amount of capital expenditure coming into this new financial year, but we were in good shape in that the balance sheet looks pretty good. Initially wed take 10% of that profit and share it equally with everybody in the branch but as weve developed and gotten a little more sophisticated, weve applied quality stats to the numbers. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Thanks for your comments about Don Braid and Mainfreight. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. It has been listed on the New Zealand Exchange since 1996. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. That's ambitious, even . 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. Who wouldnt want exposure to the retirement sector? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. We use functional and analytical cookies on our website to offer an optimal user experience. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. 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. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Shareholders would be glad to know that the company has improved itself over the last few years. So we are developing our people to be the best they possibly can be. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Get in touch with us directly. Required fields are marked *. 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. 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. The firm's shares have been one of the best performing stocks on the NZX, returning more than. 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. The key for me is to be in the business as much as possible, to be visible. 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. At the end of the day, the decisions they made will be seen in the weekly results. Don: Im not sure its stress. The multinational logistics and transport group announced a year end dividend of 45 cents a share, taking the full dividend for the year to 75c, up 27% on the prior year. National's three waters policy is only cosmetically distinct from Labour's. By the way, its not just about us seeing those numbers. His intellect and pragmatic approach is highly regarded at the Board table. Don Braid's Phone Number and Email Last Update. By using this website you consent to the use of cookies in accordance with our privacy policy. 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. 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. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? "He implements things very well and you don't have to remind him about anything you're trying to achieve. And he should know, having spent his entire working life in the freight industry. Don Braid. "He's sporting and tough and makes decisions quite fast," Plested says. He attributed the. If you trust your people, look after them and give them responsibility, theyll deliver. See ourstandard terms and conditionsfor more information. Some of the leading players in the listed retirement sector have been raising capital. Don Braid. 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. We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Rob Fyfe You know, people arrive when they arrive and they leave when they leave. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. He owns a 3 per cent stake in the firm, worth about $29 million. Hi Tanya. Media enquiries 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. 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. 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. Mainfreight people, he says, don't "live in question marks". He is an outstandingly consistent and capable chief executive. 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. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Brent is a senior reporter based in Queenstown. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Check out our latest analysis for Mainfreight. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. We offer lots of training as well, internally and externally. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. 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. 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. The branch managers are the kings and queens, by the way, because thats where the moneys made the national team is just there to support the branch managers. 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. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Zac: What is the Mainfreight way when it comes to culture? 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. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. 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. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. 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. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". 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. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight.