Zac: What is the Mainfreight way when it comes to culture? "I just think that's disgusting," he says. Theres no cross subsidies. Alternatively, email editorial-team@simplywallst.com. He owns a 3 per cent stake in the firm, worth about $29 million. Zac: Can you share more about your profit share? Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. So we are developing our people to be the best they possibly can be. Don Braid. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. 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. And what do you believe leaders need to excel at? That was uppermost in our mind. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. 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. Don: Its been interesting! Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Id also be really focused on being in touch with customers. Chief executive, Mainfreight Mainfreight's Don Braid rose above a solid field of finalists to be named New Zealand Herald Business Leader of Year. 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. 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. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Were thinking about being around for a hundred years. With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. "That gives us an enormous amount of opportunity.". The key for me is to be in the business as much as possible, to be visible. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. I might get a little bit wound up about stuff, a bit passionate about things, but I think you cant get so involved that you think about nothing else. Filed Under: Blog, Business coaching, Motivation coming at ya, What a great interview and there are many excellent points which the Mainfreight CEO covered like Empathy which is essential when supporting all those involved in Mainfreights success and another dealt with the importance of making sure all invoices are paid on time. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. "He's sporting and tough and makes decisions quite fast," Plested says. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. 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. [4] This operation was expanded with depots in Melbourne and Brisbane. +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. The Mainfreight board is intent on doubling revenue to $2 billion by 2015, mostly from international earnings, and Mr Braid envisages at least 500 branches before too long. Save my name, email, and website in this browser for the next time I comment. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. Educated at Timaru Boys High School, Braid has been described as possibly the most self-effacing leader of major listed company in New Zealand and is widely regarded as straight-talking and strong leader. But the excitement is justified. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. 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. And then its about exploring the long game. 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. JUDGES COMMENTS "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Richard Prebble is by profession a lawyer. Everyone stands on their own two feet. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. 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. Don: Im not sure its stress. Despite international growth and success, Braid is passionate about keeping the company proudly Kiwi-owned and has been an outspoken voice on local transport and infrastructure matters. Youve got to have good outlets. 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]. 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. I dont believe that. 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 company posted record earnings and revenue for its last full year and has continued to break records this financial year. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. 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. To join your company account for BusinessDesk and enjoy full access, Not living as a question mark but instead getting on with it and making those decisions. Youve got to break it down. [3] [4] When the company was founded it entered a highly regulated transport market. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. Indonesia ups trade potential with focus on corporate governance, NZ business needs to invest more in reputation, NZ corporates taking a lead in health & safety. Well in Europe they had these time clocks. I learned that early in the piece and I think its stood me in good stead. Don: I think empathy is really important. Don: I get out of the way. 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. See ourstandard terms and conditionsfor more information. "I don't think any of those things are really of interest to this," he says. Its great fun. Zac: As the leader of Mainfreight, what do you personally focus on to get the team going in the right direction? He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . 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. The relationships we develop, both with suppliers and with customers, are there for the long term. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Things are changing a little bit and everyones suggesting that its all going to go to eCommerce. 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. Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braids watch. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. 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. 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. 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. Weve sort of tucked on the back of some trials in Europe and in the States where they were running in threes and fours behind each other, all connected by a computer. Zac: How do you prioritise where to spend your time in a normal week? Whats changed? After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 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. Our subscriptions start at $24 / month for individuals. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. They love this as it makes them feel supported and that I understand their role. Im not sure well see driverless trucks in NZ for some time to come. 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. Will His AI Plans Be Any Different? The Biosecurity Business Pledge group has launched two new biosecurity guides. Please note that with cookies disabled you will have a degraded experience with some features. Zac: Don, having a decentralized business, whats been your approach to leadership? "We've been in China for 20 years. 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. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. It only represents a small part of our revenue, but . So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive. Hi Tanya. 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. Its an intimate touch with the P&L; the weeklies tell us lot. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. Component 2020 [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. Though his father was a truck driver, Timaru-born Braid can't recall being influenced by this. Group Managing Director, Mainfreight. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Zac: Whats a bit of business advice you can share? How do you measure this? So it looks like Mainfreight compensates Don Braid in line with the median for the industry. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. But, he said, the groups response at the outset of the pandemic had been unequivocal. So I think cashflow is king and Id be focused on that. Weve got examples of that in our business right now. CEO compensation can have a massive impact on performance, but it's just one element. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Weve made this article available for free. You cant see yourself as an employer of 8500 people. Both are real legends and seem to really walk the talk. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett.
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