[3][4], When the company was founded it entered a highly regulated transport market. 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. 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 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. Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! 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. What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? - Yahoo! Don: Im not sure its stress. 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Don Braid. Of course, you might find a fantastic investment by looking at a different set of stocks. enter your email and well send you details. 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. While there was someone in the drivers seat, the computer took over the vehicle. He has an enviable track record of integrity and professionalism and wide ranging business experience. Is our service or a product still current? As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Don Braid, Mainfreight Ltd: Profile and Biography - Bloomberg Markets They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. So the idea was to make sure that our people were right, that our systems were ok, what customers could trade, and how we could help those customers as an essential service. Wed rather own assets than lease them. don@mainfreight.com; Profile. 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. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. For more information, please visit our cookie statement. 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. 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. Im always exploring those opportunities and may be experimenting in particular regions or with particular customers before implementing that across the rest of the business. The Biosecurity Business Pledge group has launched two new biosecurity guides. So everything that we do is about being here for a long time. How are we changing the business accordingly? 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[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 reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo What do those customers look for from us? 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. [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. We would meet with them once a week and theyd share what theyd discovered and what they hadnt discovered and wed give them some guidance but then get out of their way and let them get on with the job. Not bad for a Kiwi trucking company! Chief executive, Mainfreight What Can We Conclude About Mainfreight's (NZSE:MFT) CEO Pay? Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. It has been listed on the New Zealand Exchange since 1996. 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. Wed prefer to shake hands and know that our integrity and the way that we do business works with our partners long term. I guess whats annoying is that we have got to wait for an election year to get this kind of stuff. Biography Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys' High School and has over 30 years' experience in freight forwarding and logistics both New Zealand and internationally.. 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. 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. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. How Does Don Braid's Compensation Compare With Similar Sized Companies? The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Don from Mainfreight talks to Fisher Funds. Don: It should be where your skills are. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Were thinking about being around for a hundred years. What are the things you do that maybe others dont do that actually make you lead this organization? The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. As you get bigger, staff engagement and culture becomes more difficult. | 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. WINNER Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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 The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. "He's sporting and tough and makes decisions quite fast," Plested says. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. You cant see yourself as an employer of 8500 people. They know that now and can alter those decisions as they head into the week in front of them. Media enquiries "He implements things very well and you don't have to remind him about anything you're trying to achieve. 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. 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? 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. What have we got right? Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. 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. That's just a smallish increase of 6.9% on last year. 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. Should it change? While many companies have been battening down the hatches this year, Mainfreight has been on the acquisition trail - purchasing a Netherlands-based freight business which operates in Belgium, France, Romania and Poland and Russia. Weekly operational reports are posted on the wall of the company cafeteria in Otahuhu, where all team members, including Braid, eat at a single, long table. What we put in place here in New Zealand became the blueprint for the organization around the world. 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. On the Money: Tim Boyd he's back; James Lee he's leaving, and more New drugs could end the worlds obesity epidemic, Big plus for NZ schools and govt agencies, Growing wealth through our cities growth, Insurers call on government to seize the day, Smoke, mirrors and delay Nationals three waters policy, Former CentrePort CEO Liz Ward joins KiwiRail board. Its Mainfreights style to offer career progression, giving people here a long-term career in the business, allowing them to find that space to develop the leadership traits. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Top 200 : Deloitte/Management magazine Executive of the Year Don Braid So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Chief executive, Air New Zealand While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. Look after your people and theyll look after the business. Where should we open next? 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. The key for me is to be in the business as much as possible, to be visible. In 2008, the United States locations were re-branded as Mainfreight USA. Richard Prebble is by profession a lawyer. Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets. Don: I get out of the way. 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". Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. "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. 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. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Engage via Email. 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. 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. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. "There's no bureaucracy or hierarchy or superiority in the business. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Some of the leading players in the listed retirement sector have been raising capital. JUDGES COMMENTS That includes a new facility for Owens Transport in Penrose, Auckland and additional land in Nelson, Hastings, Cambridge and Wellington. 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. Mainfreight - Wikipedia Don Braid - newzealandinc.com Group Managing Director, Mainfreight. Do also serves as a member of the Board of the Starship foundation. 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. I dont see this as a job, so therefore the stress levels arent as strong. Email. What havent we got right? Brent is a senior reporter based in Queenstown. 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.
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