Mainfreight is publicly listed on the NZ Stock Exchange with a market capitalisation of $8+ billion. Of course, you might find a fantastic investment by looking at a different set of stocks. Business in the Americas also saw an improved performance, with a 29.7% increase in profit to US$25.93m, with Mainfreight's air and ocean division benefiting from resurgent demand from customers and market share gains in the US. Zac: How do you prioritise where to spend your time in a normal week? They couldnt believe we trusted them to turn up when we needed them to turn up and leave when we needed them to leave. Mainfreight people, he says, don't "live in question marks". What more could I be doing in the business to actually grow my revenues in these difficult times? 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. 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. 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. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. That's ambitious, even . Q&A with Mainfreight's Don Braid - Business Changing Photo / Supplied . Moreover, Don Braid also holds NZ$171m worth of Mainfreight stock directly under their own. Breakfast with Don Braid, Mainfreight Ltd | IoD NZ Also, such solid returns might lead to shareholders warming to the idea of a bump in pay. He previously worked for the Otago Daily Times, after a return to business journalism in 2018. Previously, Don was a Political Columnist at Calgary Herald. The firm's shares have been one of the best performing stocks on the NZX, returning more than. Other finalists were: Briscoe Group managing director Rod Duke, NZX chief executive Mark Weldon, ex-Fonterra chief executive Andrew Ferrier, Xero founder Rod Drury, LanzaTech chief executive Jennifer Holmgren, Ngai Tahu Holdings Corp chief executive Greg Campbell, TZ1 founding chief executive and former Microsoft New Zealand chief executive Helen Robinson, Farmers/Whitcoulls owners David and Anne Norman and Ryman Healthcare chief executive Simon Challies. As Group Managing Director of Mainfreight Limited - one of New Zealands largest freight companies - Don Braid joins us to share key insights for directors into the changing patterns of these chains and what the future may hold. 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. Should it change? Once we convinced them that they didnt need a time clock, they took to them with a sledgehammer. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. 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. 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. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. We were lucky enough to have a really incredible chat with Mainfreight CEO Don Braid about what he has learnt as the CEO of Mainfreight. Your email address will not be published. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Mainfreight boss bypasses 'profiteering' global shipping lines - Newsroom At the end of the day, the decisions they made will be seen in the weekly results. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. As a Kiwi living in England and studying management currently, I have really enjoyed reading this interview. The Australian business reported a 46.6% jump in profit before tax to A$71.5m for the year, on the back of regional expansion of the groups transport business. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 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. "There's no bureaucracy or hierarchy or superiority in the business. Mainfreight shareholders would be similarly pleased. "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. Cash flow is essential for any business survival. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braids more modest 2.79% stake is still worth about $70m supplemented by annual remuneration of $2.2m in 2017. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. I just have a belief and determination that weve got a pretty good business here. Don: Sometimes I think people dont recognise or believe or have enough passion in what theyve developed. "It's not about what I've done - it's about what we've done and what the business has done," he says. Watson said she did not believe bonuses were a way. Your email address will not be published. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. And he should know, having spent his entire working life in the freight industry. Check out our latest analysis for Mainfreight. If you trust your people, look after them and give them responsibility, theyll deliver. 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! Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. It remains a very exciting journey., Spearheading the management team at New Zealands largest supply chain logistics and transport company has paid off handsomely for, Well known for his mental and physical toughness, Braid is often seen working out at The Atrium Club in downtown Auckland, which offers real world fitness for men. His sartorial style was also recognised in 2006 when he was judged the national winner of the. Biography Don Braid - newzealandinc.com He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. 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. For the latest updates on face to face courses and our safety planning see ourresponse to COVID-19 page. Theres no cross subsidies. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. 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. "But I was fascinated that he could present this picture of a skeleton of a company and present it so brightly.". Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Mainfreight - Wikipedia Whats changed? FINALIST Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. Click on [Agree] or [Disagree] to accept or refuse cookies. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. For me its being in the business, with people and in particular with customers. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. You cant see yourself as an employer of 8500 people. Don: For us, its not about the short game, its about the long game. | 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. 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. Deloitte Top 200 Award Winners Announced for 2019 Engage via Email. Brent is a senior reporter based in Queenstown.