don braid mainfreight net worth

Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. With Don Braid at the wheel, Mainfreight is in safe and skilful hands. Ideal traits we want to see in leaders are integrity, being trustworthy and capable of bottom up decision-making, not top down. 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. "If you allow the recession to roll over the top of you there's a great chance it will.". Don Braid (Mainfreight) Credit: Mainfreight . But, he said, the groups response at the outset of the pandemic had been unequivocal. 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. 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. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. Zac: Don, your 100-year vision how does that work? Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreights success. [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. While there was someone in the drivers seat, the computer took over the vehicle. Insight and analysis of top stories from our award winning magazine "Bloomberg Businessweek". Don: Um, I think its recognising good people. The key for me is to be in the business as much as possible, to be visible. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, No Major Offer Expected on Childcare in UK Budget, Biden Gives Medal of Honor to Trailblazing Special Forces Member, Climate Change Is Launching a MutantSeed Space Race, UK Braces for Rare Weather Event That Risks Late-Winter Freeze, What Do You Want to See in a Covid Memorial? Hamish. 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. Your email address will not be published. Zac: Lets talk more about those weekly P&Ls. COVID-19 has had a significant impact on freight and supply chains worldwide. 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. So we are developing our people to be the best they possibly can be. 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. I just have a belief and determination that weve got a pretty good business here. Zac: Mainfreight was started back in the late seventies by Bruce Plested, who is the chairman now. The firm has earned a reputation within the market for being slickly-run. And thats why we travel a lot when you visit, you can smell the morale in an instant. Media enquiries Kiwis know the firm largely through its blue trucks that ply our highways, but the company also utilises sea, train and air freight to transport goods around the world. Mainfreight will pay a discretionary bonus of $43.9 million, up 61% from last year's bonus of $27.3m, after a record result to March which saw net profit up by $40.1m to $188.1m. This endeavor launched the first permanent investment into South America. 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. Any enquiries, or to book a table, please emailNatalie Spratt, Auckland Branch Coordinator. 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. 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. He believes in fostering an innovative culture in the organisation and encourages top performances from his teams. So Don, my first question is whats been your main focus the past two months during Covid times and leading Mainfreight and global business? 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. So I think cashflow is king and Id be focused on that. Today he chairs a group of telecommunication companies. Mainfreight's net profit rose by $40.1m to $188.1m. Don: I think empathy is really important. "It's not about what I've done - it's about what we've done and what the business has done," he says. What we put in place here in New Zealand became the blueprint for the organization around the world. [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. Not living as a question mark but instead getting on with it and making those decisions. 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. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Required fields are marked *. 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. Group Managing Director at Mainfreight NZ . Zac: Can you share what some of the great ideas youve actually brought from overseas have been? Braid says the company strives to be de-centralised through giving responsibility to all individuals in the business and letting them make decisions. I feed off that and suppose the people in our business like seeing that and see it as an example and follow. I give them the ability and the responsibility to deliver, and I give them great support and lots of guidance. In 2008, the United States locations were re-branded as Mainfreight USA. It's interesting to note that Mainfreight allocates a smaller portion of compensation to salary in comparison to the broader industry. 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. But, he said the first seven weeks of trading in the current year has been at similar levels to the past six months. Early in the piece at Mainfreight, leaders are given responsibility, so the ability to take responsibility and to make decisions is pretty important. 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. I suppose were grooming people all the time for those loaded leadership roles. Everyone stands on their own two feet. 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. Please note that with cookies disabled you will have a degraded experience with some features. 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. Hes the right man for the job at just the right time. Don Braid, Group Managing Director of Mainfreight Limited, was educated at Timaru Boys High School and has over 30 years experience in freight forwarding and logistics both New Zealand and internationally. 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. 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. He knows where the company is going and, more importantly, how it will get there. How does that actually work, practically? PO Box 65092, Mairangi Bay, Auckland, New Zealand, Top 200 : Deloitte/Management magazine Executive of the Year Don Braid Clear Vision. By the way, its not just about us seeing those numbers. Having started out with two employees and one truck in 1978, the company now employs more than 7500 people in 22 countries and generated a net profit of $103m in the 2017 financial year on operating revenue of $2.33 billion. Mainfreights newest regions, Asia, Europe and The Americas (spanning from Canada to South America), are expected to grow exponentially as the world trade shifts towards other developing countries. 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. If salary dominates total compensation, it suggests that CEO compensation is leaning less towards the variable component, which is usually linked with performance. The CEO of Mainfreight Limited (NZSE:MFT) is Don Braid, and this article examines the executive's compensation against the backdrop of overall company performance. Appointment to Board 2000 - With Mainfreight since 1994. "I think I've always enjoyed business, from an early age, so to be involved like I am today has been great. 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. 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. We continue to be optimistic and we are bloody proud of our people who have delivered this record result..