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. Don: The culture is really important and our culture starts with those closest to the customer. 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. 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. "You can imagine what they need to eat, drink and use," says Braid in the boardroom of Mainfreight's building in Otahuhu. "If you allow the recession to roll over the top of you there's a great chance it will.". Zac: Lets talk more about those weekly P&Ls. Zac: Mainfreight is obviously a massive employer with almost 9000 staff across the world. Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Youve got to break it down. Look after your people and theyll look after the business. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. 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). While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. [4] This operation was expanded with depots in Melbourne and Brisbane. "It's not about what I've done - it's about what we've done and what the business has done," he says. 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. He runs the businesses with consciously egalitarian slant and is no fan of bureaucracy or the trappings of hierarchies. "You need some energy and you need to be on the front foot," he says. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. BusinessDesk has a paywall for most of its content. 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. As you get bigger, staff engagement and culture becomes more difficult. But they had different regulations for different countries: it was a metre between the two trucks, it was a metre and half in Belgium, and it was two meters in France. It only represents a small part of our revenue, but . Like most Kiwi business leaders, Braid is self-effacing and doesn't fancy talking to journalists about his life outside the company. "He never talks about himself and always talks about long-term goals," Hunt says. For further information, please contact Don Braid, Group Managing Director, telephone +64 9 259 5503, +64 274 961 637 or email don@mainfreight.com. Get in touch with us directly. Involved in the founding of Kiwibank before taking the top job, Knowles embraces challenge and thrives on delivering top results. 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. Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. [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. The company also noted Brexit issues between the UK and Europe remained a cause of frustration, particularly since January, resulting in considerable delays to freight on the back of more complicated customs formalities. Everyone stands on their own two feet. Offices are outlawed, even for Braid, whose desk is situated in the corner of a large, open-plan room occupied by the company's national team. Were thinking about being around for a hundred years. I think our owner drivers are a key component of the relationship with the customer. 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. 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. He owns a 3 per cent stake in the firm, worth about $29 million. He joined Daily Freightways in 1978, gaining a thorough grounding in all aspects of the business and eventually heading up . It doesnt matter what the worlds thrown at them, theyve shown they are capable of dealing with it. 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. WINNER Weve made this article available for free. Thats the key. Don: For us, its not about the short game, its about the long game. We're trying to break all that down.". Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. It is totally how I believe a company should be and I love how everyone starts at the bottom. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. 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. I dont believe that. 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. Two other directors joined KiwiRail's board earlier this year, Rob Jager and Ed Sims. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. [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. How Does Don Braid's Compensation Compare With Similar Sized Companies? 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. Its great fun. They have over 8500 staff in 280+ locations across 28 countries, so it was pretty cool (and humbling) for us to be able to chat to Don with some of our Business Changing clients recently. 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. The company is on track to go close to the $2 billion mark in its current financial year, Braid says, having already posted an almost $900 million revenue for the six months to September. 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. I think its about ready-fire-aim: making sure were steady, allowing decisions to be made, and shaking them up as we get on. So you need to make sure youve got succession planning to be able to work on the dream that youre creating. 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 Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). Theres no cross subsidies. The Biosecurity Business Pledge group has launched two new biosecurity guides. "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 analysts have been warned that they "won't get a second interview" if they make that mistake of calling Mainfreight a "trucking company". He delivers on Mainfreights bold and expansive strategy while still bringing home the bacon for his shareholders. His leadership is underpinned by a strong belief in Mainfreight's global competency and capabilities to provide high-quality supply chain solutions for our customers. This article by Simply Wall St is general in nature. Other Current Directorships:
+64 27 403 0148+64 9 905 4804Jill.Steffert@iod.org.nz, The Auckland Branch acknowledges the generous support of. 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. This is vitally important for all business to remain financially viable and it is where more than often we see business failures and especially in the Building Construction Industries which I was involved in. Brent had an extensive career in corporate communications and strategic consulting, including for a range of public listed companies. 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. I dont see this as a job, so therefore the stress levels arent as strong. Braid said Mainfreight was on track to push close to the $2 billion sales mark by March next year. Wishing you the best in England and when you return to NZ. 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. Zac: Whats a bit of business advice you can share? Is our service or a product still current? As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. For more information, please visit our cookie statement. 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. Boards have a key role to play in the wake of any crisis. He brings strong financial skills and business acumen to the role. The company is growing EPS and total shareholder returns have been pleasing. Your email address will not be published. Brent is a senior reporter based in Queenstown.
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