Early in my career I understood that I enjoyed the interaction with customers and in fact I enjoy the challenge of helping win new customers. "There's no bureaucracy or hierarchy or superiority in the business. Musk Made a Mess at Twitter. 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. 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. Rob Fyfe So what you produce in terms of profitability is real. Copyright 2023 Institute of Directors Lessons from the Managing Director of one of NZ's most successful Don Braid is Managing Director/CEO at Mainfreight Ltd. See Don Braid's compensation, career history, education, & memberships. "We need to try and paint the picture around Mainfreight here and what Mainfreight is, that to me is of more interest than whether I like rugby or cricket. And then it was a matter of communication and staying in touch, making sure everyone was okay, making sure any questions were answered. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. 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. Richard Prebble is by profession a lawyer. Get in touch with us directly. Chief executive, Kiwibank "That gives us an enormous amount of opportunity.". Mainfreight declares flat dividend, hands back $11m wage subsidy Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Mainfreight boss: China 'understands our value' - NZ Herald 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. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? 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. 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. If were going to build facilities for our people, we build very good facilities to be around for a long time. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. 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. The long-term effects must be carefully studied. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Don: The culture is really important and our culture starts with those closest to the customer. 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]. Read More . I'm pleased I didn't do anything else.". Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. What have we got right? 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. He knows where the company is going and, more importantly, how it will get there. Your email address will not be published. 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. [3] [4] When the company was founded it entered a highly regulated transport market. Its important to be as flexible as we can to bring an offering that the customer requires during a really tough time. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. We asked Group Managing Director Don Braid how Mainfreight has become one of New Zealand's most successful companies. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. [13] The transaction was completed on 6 June 2007. Were thinking about being around for a hundred years. [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. As we noted earlier, Mainfreight pays its CEO in line with similar-sized companies belonging to the same industry. This article by Simply Wall St is general in nature. 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. Regionally, the NZ business saw an increase of 11.5% in profit before tax to $97.8m, though supply chain capacity into and from NZ remains congested, and the company is frustrated with international shipping lines". Other Current Directorships: 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.". We tackle critical leadership, management and economic issues as well as profiling successful local and global leaders. Everyone stands on their own two feet. Save my name, email, and website in this browser for the next time I comment. Zac: Can you share more about your profit share? How do you maintain a positive culture and a time of crisis? In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. And what do you believe leaders need to excel at? This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. The Biosecurity Business Pledge group has launched two new biosecurity guides. 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. 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. Will His AI Plans Be Any Different? Out of that, I think weve got the culture really starting to develop. Wishing you the best in England and when you return to NZ. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. They love this as it makes them feel supported and that I understand their role. "He's sporting and tough and makes decisions quite fast," Plested says. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. 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. And he should know, having spent his entire working life in the freight industry. More importantly, the people in those branches know what they did last week, and which were the right decisions or the wrong decisions. His intellect and pragmatic approach is highly regarded at the Board table. [8], Headquartered in 's-Heerenberg, The Netherlands, Wim Bosman is privately held and operates more than 1,000 transport units, manage more than 275,000m2 of cross-docking facilities and warehouse area, and employ roughly 1,414 staff within 14 branches located in The Netherlands, Belgium, France, Romania, Poland, and Russia. And thats that. I learned that early in the piece and I think its stood me in good stead. Should it change? So it doesnt matter whether youre loading freight, taking customer service calls, out making sales calls, or an operations transport manager, you understand those disciplines early on in the piece. 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. Its having empathy and I think Im patient, determined, have belief and energy. 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. 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. At the end of the day, the decisions they made will be seen in the weekly results. Deloitte Top 200 Award Winners Announced for 2019 Use of the word "staff" is banned within the company - one of a range of idiosyncrasies particular to the logistics firm. 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. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. Braid has earned a reputation within the market as a straight talker and one of the most effective NZX-50 bosses. We got a taste of what was to come early in the piece with our Chinese business and seeing what they were going through. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? | He is highly respected and success-driven executive who has made Kiwibank fly when many thought it would struggle to get off the ground. Theyre all networked, but theyre all distanced so we knew we needed to communicate really well with them and have a blueprint that we know would work. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Your email address will not be published. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 | Business Changing Ltd. | Website by Casual Fridays. When other international airlines are finding their wings clipped, this straight talking, and well regarded leader, has proved his point. 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. Weve made this article available for free. Rapper, chef and author Action Bronson takes us on a journey from his early days at culinary school, to releasing critically acclaimed albums, to writing books, starring in TV shows and building an iconic brand around his favorite interests. Shareholders would be glad to know that the company has improved itself over the last few years. 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. Alternatively, email editorial-team@simplywallst.com. 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. George Adams, the departing MD, of Coca-Cola Amatil, won the Leader of the Year award at this weeks NZ Workplace Health & Safety Awards 2013. 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. Fyfe joined Air New Zealand at the start of 2003 as chief information officer, before becoming group general manager airlines from October 2003 until his appointment as CEO in October 2005. And analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". How does that actually work, practically? 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. 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. 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. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. Don: I get out of the way. Hamish. 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. "He never talks about himself and always talks about long-term goals," Hunt says. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Mainfreight will release its financial results for the full 2022 financial year on 26 May 2022. You may withdraw your consent at any time. 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. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. Its great fun. 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! [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.
Tcehy Stock Forecast 2030, Graphic Animal Gore, Remedios Caseros Para Desinflamar El Bazo, Articles D