don braid mainfreight net worth
So everything that we do is about being here for a long time. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Your email address will not be published. FINALIST We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Zac: Don, your 100-year vision how does that work? Musk Made a Mess at Twitter. Mainfreight - Wikipedia 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. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. 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. Your email address will not be published. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. What else do we need to do to satisfy that bunch of customers? 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 believes in fostering an innovative culture in the organisation and encourages top performances from his teams. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. Don Braid Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. Bryan has a wealth of experience, both in executive and board roles. 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]. And if you dont make a profit, theres no bonus that year. Braid consistently delivers for shareholders and stakeholders alike. 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 the weekly P&L puts them on the spot. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. Don: For us, its not about the short game, its about the long game. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. The key for me is to be in the business as much as possible, to be visible. 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. [4] This operation was expanded with depots in Melbourne and Brisbane. I'm pleased I didn't do anything else.". 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. An unabashed promoter of New Zealand success, he has an extensive background in the banking industry in New Zealand and Australia, with senior management experience in marketing, strategic planning, retail services and business development. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Do also serves as a member of the Board of the Starship foundation. It only represents a small part of our revenue, but . "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. I will definitely be following the Mainfreight progress closely for when I return to NZ. | I dont believe that. 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". Your Saturday Briefing: Trumps Comeback Plan, Wall Street Whistles Away, Londons Investment Appeal Is Unraveling as Arm Heads to the US, British Parents Turn to Home Equity to Help Young Buy Property, Japanese Unions Seek Biggest Pay Rise in 25 Years for Workers, Sorry, Fed, Most US Mortgage Rates Were Locked In During Pandemic Lows, Panic Over Metals for EVs Goes All the Way to Automakers C-Suites, Ex-Goldman Banker Ordered to Forfeit $43.7 Million Over 1MDB Bribery Fraud, Twitter Revenue, Earnings Fell About 40% in December, WSJ Says, John Malone andCharter Directors Agree to $87.5 Million Settlement, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Between Rounds of Golf, Trumps Searching for the Perfect DeSantis Diss, Your Saturday UK Briefing: Sunak Chalks Up a Win as the Budget Looms, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61, The Exhibit Reality TV Show PittingArtist Against ArtistIs No Masterpiece. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. For me its being in the business, with people and in particular with customers. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. 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. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Were thinking about being around for a hundred years. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. So long term, we have a really experienced leadership team. "He's sporting and tough and makes decisions quite fast," Plested says. Wishing you the best in England and when you return to NZ. Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. He likes to surround himself with clever, energetic people who are equally as dedicated as him to meeting and exceeding the needs of Mainfreights customers. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. 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. Nothing drives home the state of our roads like a trip on a bike. His intellect and pragmatic approach is highly regarded at the Board table. [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. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. 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. Everyone stands on their own two feet. Mainfreight is a truly brilliant organization who sees all staff and their Franchises businesses as friends not employees. Contact. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Q&A with Mainfreight's Don Braid - Business Changing If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. 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. Photo / Supplied . Don: I think empathy is really important. "It's just a little rule that we've had because if they [analysts] keep calling us a trucking company they clearly haven't done their research.". 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. 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. As you get bigger, staff engagement and culture becomes more difficult. Agreement with print tech giant Canon saves college thousands. Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Check out our latest analysis for Mainfreight. If theyre not on their game, you can see that really quickly so you either get alongside them and help them or if it goes on for too long you realise weve got the wrong person in the wrong role and weve got to change them. Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. We use functional and analytical cookies on our website to offer an optimal user experience. You can be profitable and not collect the cash and go broke. Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. 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. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom Whats changed? And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid's more modest 2.79% stake is still worth about $70m - supplemented by annual remuneration of $2.2m in 2017. What we put in place here in New Zealand became the blueprint for the organization around the world. Even Europe's ongoing economic turmoil fails to dampen Braid's optimism, despite the Kiwi logistics operator having spent more than $200 million buying a Netherlands-based freight firm earlier this year, giving it a European footprint for the first time in its more than three-decade history. Chosen from New Zealand's top companies, this year's Deloitte . Concerned about the content? Lessons from the Managing Director of one of NZ's most successful Mainfreight's straight-talking group managing director has an infectious zest for business. At the end of the day, the decisions they made will be seen in the weekly results. 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. Thanks Mr Braid for sharing your knowledge and insight. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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). Look after our people, look after our customers, guard our cash, and embrace the opportunities that may arise.. Its revenue is up 5.9% over the last year. Managing director Don Braid said Covid-19 fully tested Mainfreight's resilience, but it also necessitated some fundamental commitments. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! Biography 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. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today.
Lady Bay Beach Sydney, Australia,
Jumping Horse Auction,
North Hollywood High School Calendar 2022,
Mlb Umpire Seniority List,
Articles D