You know, people arrive when they arrive and they leave when they leave. The company is growing EPS and total shareholder returns have been pleasing. Thats the key. Regrettably, registration fees cannot be refunded when cancellations are received within two working days prior to any branch event. Subscribe to protect quality NZ journalism. 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. Chief executive, Kiwibank The firm's shares have been one of the best performing stocks on the NZX, returning more than. Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. Zac: What is the Mainfreight way when it comes to culture? So it looks like Mainfreight compensates Don Braid in line with the median for the industry. 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. Zac: Lets talk more about those weekly P&Ls. It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. 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. Chief executive, Mainfreight We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. By the way, its not just about us seeing those numbers. Id also be really focused on being in touch with customers. Privacy policy [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. Do also serves as a member of the Board of the Starship foundation. Theres no bullshit in the numbers, they are what the business has earned. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. See the full transcript below. Whats changed? Read More . Mainfreight shareholders would be similarly pleased. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. Don Braid. 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. Once it became a global pandemic we needed to react and adapt as quickly as we could. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. Zac: Don, your 100-year vision how does that work? Zac: Can you share what some of the great ideas youve actually brought from overseas have been? [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. Check out our latest analysis for Mainfreight. 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Hamish. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Don Braid Mainfreight's net profit rose by $40.1m to $188.1m. While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. For more information, please visit our cookie statement. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. How do you maintain a positive culture and a time of crisis? Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Its even more exciting doing that in offshore markets with a really big customer where youre actually sitting in front of them and we know we will turn our industry upside down by winning quite large business off the incumbents. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Early on, New Zealand had great lessons to take to the rest of our network. 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. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. Some people dont want any more responsibility they find their own ceiling and thats fine. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. "It's not about what I've done - it's about what we've done and what the business has done," he says. Photo / Supplied . Where should we open next? Well in Europe they had these time clocks. Concerned about the content? What havent we got right? 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. "He never talks about himself and always talks about long-term goals," Hunt says. 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. 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. Bryan has a wealth of experience, both in executive and board roles. Required fields are marked *. 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. 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! | How do I gain more customers? He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. 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. The relationships we develop, both with suppliers and with customers, are there for the long term. New Zealand-based logistics giant Mainfreight is celebrating the roll-out of two new custom-built enterprise software platforms, dubbed Mainmove and . 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. He owns a 3 per cent stake in the firm, worth about $29 million. While there was someone in the drivers seat, the computer took over the vehicle. 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? 11/5/2022 3:33 PM. Don: What we do is measure profit before tax at the branch level and that includes interest and depreciation. If were going to build facilities for our people, we build very good facilities to be around for a long time. Its great fun. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. "There's no bureaucracy or hierarchy or superiority in the business. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . 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. 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. We dont call them staff for us, they are our people or our team. Weve made this article available for free. 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. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. 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. Your email address will not be published. I think weve done 17 to date since Covid and weve got another six or eight for the next two weeks just for New Zealand and theyve adapted. | Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. 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. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Everyone stands on their own two feet. 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. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. [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. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. "He never moans about the currency and is always positive.". The Biosecurity Business Pledge group has launched two new biosecurity guides. The key for me is to be in the business as much as possible, to be visible. Its revenue is up 5.9% over the last year. Theres a video of it happening and what was really exciting was once the clock came off the wall, you could hear the laughter and the clapping and the voices of approval from those who were watching. 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. 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. It has been listed on the New Zealand Exchange since 1996. Your email address will not be published. We aim to bring you long-term focused analysis driven by fundamental data. We offer lots of training as well, internally and externally. 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. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. 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. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. 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). If you trust your people, look after them and give them responsibility, theyll deliver. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. Group Managing Director at Mainfreight NZ . His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. Since the acquisition of the Wim Bosman Group the eurozone has spiralled to the brink of economic disaster, but 52-year-old Braid says doing business on the debt-ravaged continent is nothing other than an "exciting" prospect. 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? This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in.