don braid mainfreight net worth
His intellect and pragmatic approach is highly regarded at the Board table. Their understanding of disciplines and what the expectations are embedded early on so our culture is strong and then you give them responsibility. don@mainfreight.com; Profile. The company now expects to spend an additional $338m for property over the next two years, with $156m of that during the current financial year. Don: I think its quite a long way off. Sam Knowles You know, people arrive when they arrive and they leave when they leave. Copyright 2023 Institute of Directors Thats the best way of being able to manage an event like were in right now, but Id say its the best way to run a business at all times.We have some really good systems. I think with a driverless truck, well lose that ability of interaction with the customer on pickup or on delivery. 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. We applaud that; weve always paid every supplier on the 20th of the month following and we ask the same of our customers. "You need some energy and you need to be on the front foot," he says. COVID-19 has had a significant impact on freight and supply chains worldwide. Early on, New Zealand had great lessons to take to the rest of our network. Don Braid See the full transcript below. What do those customers look for from us? WINNER Braid says the Mainfreight culture and passion took hold pretty quickly, and Plested recognised his leadership strengths by appointing him to the board six years later. As a young salesperson aged 19, I couldnt make a cold call. CEO compensation can have a massive impact on performance, but it's just one element. 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. Zac: Im keen to understand what do you think are common reasons why many businesses fail to reach their maximum potential? Everyone stands on their own two feet. And then its about exploring the long game. Mainfreights two new build warehouses, a 50,000 square metre facility in Sydney and 30,000sqm build in Melbourne, are scheduled for completion by end next year. 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. The company posted record earnings and revenue for its last full year and has continued to break records this financial year. Mainfreight boss Don Braid sees fresh opportunities in China's Belt and Road initiative, writes Bill Bennett. "He never talks about himself and always talks about long-term goals," Hunt says. 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. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. And if you dont make a profit, theres no bonus that year. Mainfreight chief executive Don Braid says New Zealand needs to slash the number of its container ports to a 'maximum' of three to avoid being side-lined by major shippers.The 18-year veteran CEO of the NZX-listed multinational logistics company told a supply chain forum in Auckland on Wednesday that container cranes sitting at most of the "I think we're a better business because of adverse economic conditions, there's no doubt about that," he says. In that respect, NZ was the worst effected with weekly revenues during April 2020 down by about 40% on average levels. 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. "If you allow the recession to roll over the top of you there's a great chance it will.". Not bad for a Kiwi trucking company! 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. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. 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? Its about making sure they dont lose the disciplines that make us who we are but embracing them as people delivering for our customers. BusinessDesk has a paywall for most of its content. Youve got to have good outlets. 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. 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. "It's not about what I've done - it's about what we've done and what the business has done," he says. We've identified 1 warning sign for Mainfreight that investors should be aware of in a dynamic business environment. Hamish. If you trust your people, look after them and give them responsibility, theyll deliver. Our data indicates that Mainfreight Limited is worth NZ$4.0b, and total annual CEO compensation was reported as. While many of its NZX-50 peers have entered a period of stagnation, Mainfreight - it seems - thrives on hard times. As you get bigger, staff engagement and culture becomes more difficult. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. How are we changing the business accordingly? You cant see yourself as an employer of 8500 people. How does that actually work, practically? Leading into this, we had a number of market analysts suggesting our balance sheet was lazy and you know, undercooked. Musk Made a Mess at Twitter. 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. Biography A table of ten booking is available for $1000.00, subject to availability at the time of booking. 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. Investors who take an interest in Mainfreight Limited ( NZSE:MFT) should definitely note that the Group MD & Director, Donald Braid, recently paid NZ$74.61 per share to buy NZ$500k worth of. 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. So it looks like Mainfreight compensates Don Braid in line with the median for the industry. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Dogged determination, drive and eternal optimism - they're all qualities Don Braid exudes. If theyre not on their game, you can see that really quickly so you either get alongside them and help them or if it goes on for too long you realise weve got the wrong person in the wrong role and weve got to change them. The Biosecurity Business Pledge group has launched two new biosecurity guides. Don joined in 1994 and hes been on the board since 2000 and the CEO for a heck of a long time. For us its about pushing the decision-making as close to the customer as possible, getting those people to make decisions rather than pushing them upstairs for someone else to make. Mainfreight Limited has seen its earnings per share (EPS) increase by 19% a year over the past three years. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. 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. 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. 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. 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, Plested was quoted as saying after Braid was selected as the 2011 Business Leader of the Year. We have been monitoring government updates regarding COVID-19 and are keeping up to date with Ministry of Health guidance with regard to events and public gatherings. "We were exposed to Covid-19 quite early in the piece, probably earlier than many others because of our operations in China. So for the first couple of weeks of lockdown in New Zealand, we were wondering, how deep is this going to go? Boasting a total shareholder return of 168% over three years, Mainfreight Limited has done well by shareholders. 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]. Shareholders would be glad to know that the company has improved itself over the last few years. Mainfreight chairman Bruce Plested says Braid is a very complete modern and old-fashioned leader wrapped up in one. Managing director Don Braid said the result was pleasing, particularly in light of supply chain congestion and ongoing lockdown disruptions in most of Mainfreight's markets. This endeavor launched the first permanent investment into South America.
don braid mainfreight net worth