Spearheading the management team at New Zealand’s largest supply chain logistics and transport company has paid off handsomely for Mainfreight group managing director Don Braid.
Founded by NBR Rich Lister Bruce Plested, Mainfreight has become a global juggernaut on Braid’s watch. 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.
Although Plested remains the largest shareholder with a 16% stake worth $395m, Braid’s more modest 2.79% stake is still worth about $70m – supplemented by annual remuneration of $2.2m in 2017.
Though his father was a truck driver, Timaru-born Braid can’t recall being influenced by this. His first job after leaving school was as a clerk with the Shipping Corporation before he moved on to Sea Freightways and then Daily Freightways, which was sold to Mainfreight in 1994.
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. “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.
Typically modest about his achievements, the 57-year-old is always quick to acknowledge the team effort behind Mainfreight’s success. After receiving the 2016 Infinz Leadership Award he told staff “if this is a tick in the box for the way we have done things or are trying to do, and for what we’re trying to create, then we’ll take that tick.” Proud of its family ties, Mainfreight also employs Braid’s sons, Jason and Corey.
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 NBR Working Style Best Dressed Businessman Awards.
Another attribute is straight talking. In the leadup to the 2017 election, Braid said the country needed to be run by visionaries rather than “a couple of accountants” and he took aim at National’s pledge to spend an extra $2.6b on Auckland transport. “I guess what’s annoying is that we have got to wait for an election year to get this kind of stuff. Investment has to come year on year – it can’t 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. “It is our strong belief that the momentum we have will continue, and will develop at a faster pace than we have experienced in the past, thanks to our people, our network and our culture. It remains a very exciting journey.”