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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. What havent we got right? Mainfreight's straight-talking group managing director has an infectious zest for business. | As a young salesperson aged 19, I couldnt make a cold call. [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. 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. In 2008, the United States locations were re-branded as Mainfreight USA. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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. 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. But, he said, the groups response at the outset of the pandemic had been unequivocal. How does that actually work, practically? Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Its revenue is up 5.9% over the last year. | What are their requirements? Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Wishing you the best in England and when you return to NZ. 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. | I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. COVID-19 has had a significant impact on freight and supply chains worldwide. Early on, New Zealand had great lessons to take to the rest of our network. Then we just sat back and allowed the de-centralized process to take over and allowed people to take responsibility to get their businesses sorted and in line. Zac: Don, if you owned your own SME business at the moment, what would you be focusing on going forward to be as successful as you could be under this environment? Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. If you trust your people, look after them and give them responsibility, theyll deliver. 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. Brent is a senior reporter based in Queenstown. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. You can be profitable and not collect the cash and go broke. 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 the individuals responsibility to arrive on time and stay until the jobs finished. So everything that we do is about being here for a long time. Biography By the way, its not just about us seeing those numbers. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Musk Made a Mess at Twitter. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. We offer lots of training as well, internally and externally. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Private parking spaces are also banned at Mainfreight - the group managing director has to find himself a spot in the carpark each morning after he drives through the front gate. 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. 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. Please note that with cookies disabled you will have a degraded experience with some features. Despite international growth and success, Braid is passionate about keeping the company proudly Kiwi-owned and has been an outspoken voice on local transport and infrastructure matters. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. For more information, please visit our cookie statement. Read More . 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. 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 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. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. If were going to build facilities for our people, we build very good facilities to be around for a long time. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. I could not get out of the car and go and meet a stranger to ask for the business and now I actually prefer to do that! 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. Will be fundamentally different from the last one. 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. 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. [4] This operation was expanded with depots in Melbourne and Brisbane. 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. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Zac: Can you share more about your profit share? His intellect and pragmatic approach is highly regarded at the Board table. 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. 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. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. To trust your people too, to give them the responsibility. What are the things you do that maybe others dont do that actually make you lead this organization? When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. "We've been in China for 20 years. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Your email address will not be published. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. Its great fun. Mainfreight shareholders would be similarly pleased. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. I dont believe that. In the 12 months to March 31, Mainfreight - which has been one of the top performing stocks on the NZX this year - posted record sales of $1.34 billion. [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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Today he chairs a group of telecommunication companies. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. 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. 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 firm's shares have been one of the best performing stocks on the NZX, returning more than. Agreement with print tech giant Canon saves college thousands. 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. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. 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. 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. I learned that early in the piece and I think its stood me in good stead. Don Braid Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. Braid consistently delivers for shareholders and stakeholders alike. Those are the real world indicators of whether youve got morale correct or not or whether youve got some issues going on you need to address. Both are real legends and seem to really walk the talk. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. For me its being in the business, with people and in particular with customers. 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. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. I suppose were grooming people all the time for those loaded leadership roles. 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. The long-term effects must be carefully studied. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. "He's sporting and tough and makes decisions quite fast," Plested says. 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. Zac: Don, having a decentralized business, whats been your approach to leadership? Group Managing Director at Mainfreight NZ . 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. WINNER Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. 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. [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 CEO of Mainfreight Limited (NZSE:MFT) is Don Braid, and this article examines the executive's compensation against the backdrop of overall company performance. You know, people arrive when they arrive and they leave when they leave. 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. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. 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. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. 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. I'm pleased I didn't do anything else.". So it looks like Mainfreight compensates Don Braid in line with the median for the industry. They love this as it makes them feel supported and that I understand their role. Don Braid (Mainfreight) Credit: Mainfreight . I just have a belief and determination that weve got a pretty good business here. Alternatively, email editorial-team@simplywallst.com. 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.". He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. So what you produce in terms of profitability is real. 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.