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). +64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. And thats that. At the end of the day, the decisions they made will be seen in the weekly results. It's nice to see revenue heading northwards, as this is consistent with healthy business conditions. Should it change? Zac: Lets talk more about those weekly P&Ls. And thats why we travel a lot when you visit, you can smell the morale in an instant. COVID-19 has had a significant impact on freight and supply chains worldwide. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. This article by Simply Wall St is general in nature. Our website uses cookies to give you the best possible experience and to help us understand how our site is being used. We offer lots of training as well, internally and externally. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. 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. | Whats changed? Read More . Don: The culture is really important and our culture starts with those closest to the customer. Biography It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. 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]. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. 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. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. 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. 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. If you'd invested $20,000 in Mainfreight 20 years ago and reinvested your dividends, your investment would now be worth $1.3 million. Its a huge level of success and theres satisfaction you get from that. We will probably go back to normal but be ready to adapt, be flexible and look after your people theyll bring the answers to the table for you on what your business will look like in the future. Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid's more modest 2.79% stake is still worth about $70m - supplemented by annual remuneration of $2.2m in 2017. 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. "We've been in China for 20 years. 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. Group managing director Don Braid said it was a significant result for the Mainfreight family, achieved during a tumultuous time in the worlds history and with success in every one of the five regions the company operated. Check out our latest analysis for Mainfreight. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. Don: The recruitment of our people sits with the branch managers. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. This analysis will also evaluate the appropriateness of CEO compensation when taking into account the earnings and shareholder returns of the company. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Don: I think empathy is really important. 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. He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). It has largely grown earnings and revenue since 2008 and tripled its share price between early 2009 and today. What do those customers look for from us? So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? Mainfreight is the fourth largest company in NZ, doing over $3 billion in sales and over $300 million in EBITDA, with physical assets of $1.5 billion and debt of less than $200 million. Were not thinking about selling our shares, were not thinking of getting out when the goings good were here for the good and the bad so were preparing the business for that next 100 years. Don: We do weekly reporting on a Monday so you always understand how well youve gone across the business and across the network. 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. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. And if you dont make a profit, theres no bonus that year. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for . After leaving Timaru Boys' High School Braid joined the New Zealand Shipping Corporation as a clerk in 1976. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Its an intimate touch with the P&L; the weeklies tell us lot. Wed rather own assets than lease them. In 2008, the United States locations were re-branded as Mainfreight USA. Don Braid 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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. People thrive on being given responsibility. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. "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 suppose were grooming people all the time for those loaded leadership roles. Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. Braid goes to great lengths to stress that the company's success is the result of the efforts of its entire, 5167-member "team" around the world. Appointment to Board 2000 - With Mainfreight since 1994. It is totally how I believe a company should be and I love how everyone starts at the bottom. 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. 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. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. 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. He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. 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. 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. So everything that we do is about being here for a long time. What havent we got right? The government is pushing really hard for the major New Zealand companies to pay their suppliers on time, within 30 days. Leading reputation management consultant Noke Kiroyan says it is perfectly possible although not always easy to run a business in Indonesia without resorting to corrupt behaviour. He knows where the company is going and, more importantly, how it will get there. 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. That was uppermost in our mind. 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. Thats the key. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Chief executive, Kiwibank With Covid, the New Zealand team would meet every day for the first four weeks during lockdown. Photo / Supplied . His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. 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. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. 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. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. Shareholders would be glad to know that the company has improved itself over the last few years. 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. Group Managing Director, Mainfreight. Us taking away that clock was about responsibility and about taking away that control from head office. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than a couple of accountants and he took aim at Nationals pledge to spend an extra $2.6b on Auckland transport.