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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Braid said that while Mainfreights people can be proud of the way they stood up to be counted, there would continue to be uncertainty with heavily congested supply chains continuing to affect the worlds freight lanes. Don has led the Mainfreight team through a significant period of change and expansion to become the successful global supply chain logistics provider it is today, operating in 26 countries around the world, with $3+ billion in sales revenue, and he leads a team of 9,240 passionate Mainfreight people all around the world. Its the individuals responsibility to arrive on time and stay until the jobs finished. 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. Bryan has a wealth of experience, both in executive and board roles. 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. Will His AI Plans Be Any Different? More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. So you need to be committed for the long term.The clich about the beach, the BMW and the boat it looks pretty attractive after 10 years of hard work but what could you have created after a hundred years and have you got something thats a bit special?I think you need passion, energy, belief and the ability to develop people to run the business for the future. 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. enter your email and well send you details. 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. The reality is, this leadership team in New Zealand has been through the earthquakes and the GFC and now the pandemic. 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. In the 12 months to March 31, Mainfreight - which has been one of the top performing stocks on the NZX this year - posted record sales of $1.34 billion. 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. National's three waters policy is only cosmetically distinct from Labour's. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. [3] [4] When the company was founded it entered a highly regulated transport market. They know that now and can alter those decisions as they head into the week in front of them. 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. How do you maintain a positive culture and a time of crisis? Simon has a long association with Mainfreight having served as the Companys main adviser for acquisitions, debt structure and other matters since 2003 (through Grant Samuel & Associates), prior to joining the Mainfreight Board. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. 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. Boards have a key role to play in the wake of any crisis. That's just a smallish increase of 6.9% on last year. At Management Magazine, our focus is to inspire New Zealands business leaders and the managers of today and tomorrow to succeed. Once it became a global pandemic we needed to react and adapt as quickly as we could. Email. Zac: Lets talk more about those weekly P&Ls. Don: I think its quite a long way off. It has been listed on the New Zealand Exchange since 1996. So I think cashflow is king and Id be focused on that. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. 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. We're trying to break all that down.". 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. Weve made this article available for free. Both are real legends and seem to really walk the talk. Its whether the toilets clean, the cafeteria clean, have people got a smile on their face? With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. After receiving the 2016 Infinz Leadership Award he told staff if this is a tick in the box for the way we have done things or are trying to do, and for what were trying to create, then well take that tick. Proud of its family ties, Mainfreight also employs Braids sons, Jason and Corey. We dont call them staff for us, they are our people or our team. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. Net capex totaled $155m for the period, of which land and buildings accounted for $111.7m, plant and equipment $26.6m and IT at $16.7m. 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 has led the company in strengthening its global logistics business and ensuring an increased diversification of revenue streams across many countries, trade lanes and activities provides So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. Chosen from New Zealand's top companies, this year's Deloitte . 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. | Then we got some momentum and we saw some of the other regions doing better than what we thought so we felt better about it. Of course, you might find a fantastic investment by looking at a different set of stocks. And he should know, having spent his entire working life in the freight industry. We aim to bring you long-term focused analysis driven by fundamental data. Well in Europe they had these time clocks. 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. Mainfreight managing director Don Braid, left, and founder and chairman Bruce Plested who says businesses should share profits with workers. 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. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . What have we got right? Don: Um, I think its recognising good people. In 1994 Mainfreight purchased the business, and Don went on to hold various senior management roles at Mainfreight prior to his appointment as Managing Director in 2000. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Don from Mainfreight talks to Fisher Funds. Weve got examples of that in our business right now. The price of the rights fell as low as 7.5 cents on the last day of trading. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. And thats that. In 2008, the United States locations were re-branded as Mainfreight USA. Getting decisions made as close to the customer as possible is probably our secret and giving that responsibility to those in the branches. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Braid, who joined Mainfreight through its purchase of Daily Freightways, says the company hasn't let the last few years of economic upheaval dull its ambitions. We ask our people to recruit very good people with passion and energy; people good enough to become branch managers. That was uppermost in our mind. 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. Don: For us, its not about the short game, its about the long game. Save my name, email, and website in this browser for the next time I comment. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 43 years experience in freight forwarding and logistics both NewZealand and internationally. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. "We've been in China for 20 years. To trust your people too, to give them the responsibility. Thanks for your comments about Don Braid and Mainfreight. 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. So all the bureaucracy that goes on is increasing the amount of time that well see some of those things arrive.
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