don braid mainfreight net worth don braid mainfreight net worth

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. Look after your people and theyll look after the business. Thats the key. Where should we open next? Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a 'maximum' of three to avoid being side-lined by major shippers.The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the 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. 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). Group Managing Director, Mainfreight. Early on, New Zealand had great lessons to take to the rest of our network. Rob Fyfe is the polished and personable face of the new lean and globally competitive Air New Zealand. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . And what do you believe leaders need to excel at? Were thinking about being around for a hundred years. 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. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. If our team on the dock is seeing poor decision-making thats eroding profitability, they will suffer because they share that profit so there comes internal pressure just as much from them as there is from us, looking at how the business is progressing. Chief executive, Mainfreight The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Chosen from New Zealand's top companies, this year's Deloitte . 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. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. "He's sporting and tough and makes decisions quite fast," Plested says. They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. That means a lot of travel, but the reality is I thought my skills were best used in front of a customer so thats what I focused on. What have we got right? 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. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. [3][4], When the company was founded it entered a highly regulated transport market. 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. 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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States. At the end of the day, the decisions they made will be seen in the weekly results. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. 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. Engage via Email. Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. He is an outstandingly consistent and capable chief executive. Zac: What is the Mainfreight way when it comes to culture? Insurers support an immediate managed retreat for recent flood victims. So take a peek at this free list of interesting companies. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Required fields are marked *. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. 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". Whilst describing the foundation of Mainfreight in 2000, Plested said to the New Zealand Herald, "We moved all our freight by sea between Auckland, and Christchurch and Dunedin, and we worked weekend shifts to make sure we loaded and unloaded the ship using the whole of the seven days - we found that was faster and more reliable than our big competitors."[4]. Don: Theres been lots of things actually, like electric forklifts, the use of solar power Heres a good example: in New Zealand weve never had time clocks. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. It only represents a small part of our revenue, but . 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. d***@mainfreight.com. Don: The culture is really important and our culture starts with those closest to the customer. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. But, he said, the groups response at the outset of the pandemic had been unequivocal. 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. Who wouldnt want exposure to the retirement sector? The opportunities offshore and the populations that exist in some of those other countries are large; you only have to get something half right in some of those countries and youre growing a big business compared to what you have here in New Zealand. Wed rather own assets than lease them. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. "If you allow the recession to roll over the top of you there's a great chance it will.". Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Don from Mainfreight talks to Fisher Funds. 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. [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. 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? 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. Its an intimate touch with the P&L; the weeklies tell us lot. 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. But well and behold, were in the perfect position not a lot of debt, trading really well, coming off a really good financial year the year before. COVID-19 has had a significant impact on freight and supply chains worldwide. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". WINNER What else do we need to do to satisfy that bunch of customers? 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Do also serves as a member of the Board of the Starship foundation. If you trust your people, look after them and give them responsibility, theyll deliver. What havent we got right? The firm's shares have been one of the best performing stocks on the NZX, returning more than. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. Aside from travel (usually), customers, and communicating with those in other countries I spend my time in front of our people and our leadership team, no matter where they are located. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Where do we need to be? Bryan has a wealth of experience, both in executive and board roles. Sam Knowles "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. We're trying to break all that down.". For more information, please visit our cookie statement. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. 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. 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. You can be profitable and not collect the cash and go broke. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. "He implements things very well and you don't have to remind him about anything you're trying to achieve. Not bad for a Kiwi trucking company! 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. 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. | Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. In light of current trends, we will provide a nine-month trading update mid-February 2022. Don: I think its quite a long way off. As a young salesperson aged 19, I couldnt make a cold call. Its about the other employees seeing the numbers; dont forget, we share those profits with our people too so theres internal pressure to perform too. We dont call them staff for us, they are our people or our team. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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 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. Your email address will not be published.