Youve got to have good outlets. You cant see yourself as an employer of 8500 people. 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. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Cash flow is essential for any business survival. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. Its a huge level of success and theres satisfaction you get from that. Do also serves as a member of the Board of the Starship foundation. 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. I think our owner drivers are a key component of the relationship with the customer. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Will His AI Plans Be Any Different? We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. Don: Its been interesting! Your email address will not be published. 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. 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. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Id also be really focused on being in touch with customers. We're trying to break all that down.". 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. 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. Your email address will not be published. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. 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. So take a peek at this free list of interesting companies. 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. 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. Braid has been a beneficiary of the meteoric rise in Mainfreight's share price. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. Experts say community investment is the future. Don Braid - Group Managing Director - Mainfreight NZ | ZoomInfo Don: For us, its not about the short game, its about the long game. BRAID, Don - NBR | The Authority since 1970 Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Zac: Whats a bit of business advice you can share? 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. 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. 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. "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.". "I just think that's disgusting," he says. 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. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. 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. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? 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. So the weekly P&L puts them on the spot. Watson said she did not believe bonuses were a way. We continue to be optimistic and we are bloody proud of our people who have delivered this record result.. 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. 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. By becoming a supporter, you'll be helping us expand our independent journalism for the business community. Don Braid. For me its being in the business, with people and in particular with customers. Click on [Agree] or [Disagree] to accept or refuse cookies. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. 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). He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Chief executive, Kiwibank I really want to be in front of those customers! Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. Concerned about the content? [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. Mainfreight's net profit rose by $40.1m to $188.1m. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. National's three waters policy is only cosmetically distinct from Labour's. "You need some energy and you need to be on the front foot," he says. Rising inflation and labour shortages have added to the Covid-19 melting pot, crippling global supply chains and trade growth. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. New Zealand Shareholders' Association corporate liaison Des Hunt says Braid is one of the most effective listed company bosses in this country. Mainfreight people, he says, don't "live in question marks". Is Mainfreight Limited (NZSE:MFT) Overpaying Its CEO? - Yahoo! Us taking away that clock was about responsibility and about taking away that control from head office. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Theres no bullshit in the numbers, they are what the business has earned. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. Mainfreight managing director Don Braid. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? And if you dont make a profit, theres no bonus that year. enter your email and well send you details. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. We offer lots of training as well, internally and externally. Don: With this decentralized approach, those P&Ls were talking about, theyre part of everyday life at Mainfreight those P&Ls go up on the cafeteria wall. [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. He is an outstandingly consistent and capable chief executive. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Appointment to Board 2000 - With Mainfreight since 1994. I suppose were grooming people all the time for those loaded leadership roles. Media enquiries 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. Zac: Aside from being in front of customers, what else do you spend your weeks focusing on as the global CEO of Mainfreight? 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). 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. See ourstandard terms and conditionsfor more information. Don Braid To join your company account for BusinessDesk and enjoy full access, Zac: Don, your 100-year vision how does that work? Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Q&A with Mainfreight's Don Braid - Business Changing 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. Of course, you might find a fantastic investment by looking at a different set of stocks. 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. The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. Bruce Plested, the firm's executive chairman who founded the company in 1978 with $7200 and a 1969 Bedford truck, recalls the day in 1994 when Braid - then a Freightways Group employee - had the job of pitching its Daily Freightways business to Mainfreight, which it acquired that year. 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. 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. A table of ten booking is available for $1000.00, subject to availability at the time of booking. Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. [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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Another attribute is straight talking. Contact. The key for me is to be in the business as much as possible, to be visible. Early on, New Zealand had great lessons to take to the rest of our network. Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. Subscribe, 0.1 The Four Pillars of Governance Best Practice, 0.3 Corporate governance landscape in New Zealand, The second pillar - An effective governance culture, 2.3 Board architecture a charter for the board, 2.4 Board composition and succession planning, 2.5 Key competencies for non-executive directors, 3.6 Technology and information governance, 3.11 Employees holding external directorships, 4.4 Director shareholdings and insider trading, 4.16 The company secretary or corporate officer, Breakfast with Don Braid, Managing Director of Mainfreight Ltd. He brings strong financial skills and business acumen to the role. Who wouldnt want exposure to the retirement sector? Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. Check out our latest analysis for Mainfreight. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. How do I gain more customers? Mainfreight - Wikipedia Under his guidance, the freight and logistics company has grown and expanded to now run operations in New Zealand, Australia, Asia and the United States. 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). What else do we need to do to satisfy that bunch of customers? Deloitte Top 200 Award Winners Announced for 2019 Once it became a global pandemic we needed to react and adapt as quickly as we could. Don from Mainfreight talks to Fisher Funds. 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. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. 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. Brent is a senior reporter based in Queenstown. It has been listed on the New Zealand Exchange since 1996. Possibly more important for its team of 8,000, the firm more than doubled its Christmas bonus for 2020, from $5.35m to $11m. | "He's sporting and tough and makes decisions quite fast," Plested says. The trick is to decentralize it and to give them control of the profit and loss, allow them to have sufficient KPIs, and measurement systems to monitor those as quickly as possible so that nothing gets out of control. Don Braid - newzealandinc.com 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. Director Profiles | New Zealand - Mainfreight He has issued a New research confirms the importance that NZ business leaders place on reputation, but reveals that many companies need to increase their investment in building and protecting it. "He never talks about himself and always talks about long-term goals," Hunt says.