How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. His company has been a shining example of success amid tough global economic conditions. 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. Don: The culture is really important and our culture starts with those closest to the customer. Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. Is our service or a product still current? Don Braid is a Group Managing Director at Mainfreight NZ based in Mangere, . "Don gave this glowing account of [Daily Freightways] and I kept looking at him and thinking 'what a lot of bullshit'," Plested says. See guidance for chairs and directors. d***@mainfreight.com. How we can fix New Zealand's ports - Don Braid | BusinessDesk 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. The firm's shares have been one of the best performing stocks on the NZX, returning more than 20 per cent in the year to date. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. [14], In September 2007, it was reported by Business Wire that Mainfreight had signed a merger agreement with NYSE American-listed Target Logistics for $2.50 a share; for a total of US$54 million. Us taking away that clock was about responsibility and about taking away that control from head office. Chosen from New Zealand's top companies, this year's Deloitte . See the full transcript below. 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. 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. Plested says that within a few months of the firm's acquisition of Daily Freightways, which became Daily Freight under Mainfreight ownership, he came to recognise Braid's strengths. I believe that I shouldnt ask my colleagues/work mates/ team to do any task I would not do myself or know how to do. He brings strong financial skills and business acumen to the role. "That gives us an enormous amount of opportunity.". Mainfreight half year net profit lifts 79 per cent despite supply chain Don: It should be where your skills are. As weve matured and grown around the rest of network, were now learning things that we can bring back to New Zealand. When it comes to capable, motivational and effective leadership Sam Knowles delivers with interest. 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. Out of that, I think weve got the culture really starting to develop. 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. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. He has an enviable track record of integrity and professionalism and wide ranging business experience. "I just think that's disgusting," he says. On examining similar-sized companies in the industry with market capitalizations between NZ$2.9b and NZ$9.4b, we discovered that the median CEO total compensation of that group was NZ$3.7m. Don: With this event in front of us right now, I think cash is king, and the collection of cash. Once it became a global pandemic we needed to react and adapt as quickly as we could. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. What havent we got right? His father was a truck driver, but he says that didn't influence his career decisions. 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. So the idea was to make sure that our people were right, that our systems were ok, what customers could trade, and how we could help those customers as an essential service. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. He owns a 3 per cent stake in the firm, worth about $29 million. He points out that 172 million people live within a 350 km radius of Wim Bosman's headquarters in's-Heerenberg, on the Dutch-German border. Zac: How do you prioritise where to spend your time in a normal week? 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. So I think cashflow is king and Id be focused on that. Your email address will not be published. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . Although the pay is close to the industry median, overall performance is excellent, so we don't think the CEO is paid too generously. That's ambitious, even . "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. Not bad for a Kiwi trucking company! Thanks Mr Braid for sharing your knowledge and insight. I think the only measure of whether weve got the culture right will be seen in the numbers and in the customer service. 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. 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. While the group had deferred capital expenditure during early 2020, it had recommenced land and building projects during the year, with net capex totalling $118.6m, of which land and buildings accounted for $58.9m, plant and equipment $26m, fit out costs of $15.6m and information technology another $18m. By using this website you consent to the use of cookies in accordance with our privacy policy. 11/5/2022 3:33 PM. Our thoughts are with our members and their organisations impacted by Cyclone Gabrielle. 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. Its revenue is up 5.9% over the last year. The company is growing EPS and total shareholder returns have been pleasing. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. 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. Mainfreight completes huge software roll-out, spanning A/NZ, US and Don Braid (Mainfreight) Credit: Mainfreight . Terms of use So what you produce in terms of profitability is real. The Biosecurity Business Pledge group has launched two new biosecurity guides. Revenues were up $448.4m to $3.5 billion, a 14.5% increase on the prior year, with 76% of that now generated outside New Zealand. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Its having empathy and I think Im patient, determined, have belief and energy. 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. The worst thing we could do is slow them down with bureaucracy, making them tick a lot of boxes. Don has over 40 years' experience in the freight industry, including 26 with Mainfreight. Wishing you the best in England and when you return to NZ. And in applying that New Zealand blueprint to all regions, we knew we were pretty much in control. 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. We note that the salary portion, which stands at NZ$2.20m constitutes the majority of total compensation received by the CEO. Forsyth Barr analyst Rob Mercer said the market had confidence in Mainfreight after it managed to grow revenue and market share and outperform its peers during the global financial crisis. You know, people arrive when they arrive and they leave when they leave. 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. Don: Im not sure its stress. The relationships we develop, both with suppliers and with customers, are there for the long term. Early on, New Zealand had great lessons to take to the rest of our network. I think our owner drivers are a key component of the relationship with the customer. Though his father was a truck driver, Timaru-born Braid cant recall being influenced by this. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. 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. 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. [13] The transaction was completed on 6 June 2007. "I probably wasn't qualified enough to go to university," Braid says. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. Today he chairs a group of telecommunication companies. Investment has to come year on year it cant just come as a bribe at election time., Embracing the company motto that Good enough is never enough, Braid is focused on fulfilling a vision to make Mainfreight a 100-year company. What do those customers look for from us? Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. 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. Media enquiries As a young salesperson aged 19, I couldnt make a cold call. And if you surround yourself with really good people, the stress is actually spread across everybody and you dont wear it all on your own shoulders. So we have these 282 locations across 20 countries how do we get them each operating at their peak, every day? Talking in terms of the industry, salary represented approximately 91% of total compensation out of all the companies we analyzed, while other remuneration made up 9.3% of the pie. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. Will be fundamentally different from the last one. Read More . "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. This endeavor launched the first permanent investment into South America. 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. 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. I just have a belief and determination that weve got a pretty good business here. Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up that company. "If you allow the recession to roll over the top of you there's a great chance it will.". 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, with businesses operating in over 214 branches throughout New Zealand, Australia, Europe, Asia and the United States.
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