Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Mainfreight CEO and Executives. Show more. "It's a disgrace, a kind of It's possible your card provider is preventing us from charging the card. Berths are 10m, 12m, 14m and 16m: "When I started, the average berth length at Westharbour around 1980 was 9m but now the average is 18m.". He said it. Mainfreight chair and NBR Lister Bruce Plested has sold $75 million in Mainfreight shares to buy more property in Waiheke. Mair is the youngest of three. Baigent said late last year that the organisation hoped for a result by around April and he indicated SKP was well-resourced to carry out the half-decade stoush. Check out our latest analysis for Mainfreight. Mair said he had grown up at Stanley Point in the 1950s, had developed around 18 marinas here and overseas and is vowing to carry on. Liked by Brad Greer. The gift cost more than $4 million of his own money. This is a world where budgets are deemed 'bullshit'. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Mainfreight chairman Bruce Plested has again used the company's annual report to speak out on social inequality, asking if sharing a percentage of profits among the people who helped create them . You may withdraw your consent at any time. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. He says Plested's motivation mixes incentives with responsibility. Bruce George Plested founded Mainfreight Ltd. It is part of a distinct leadership style; a theme that runs through the history of the man and the company he founded with a single Bedford truck and $7000 some 37 years ago. Its share price increased 1.5c to $1.62. This was the lion's share of the charity's total expenditure of $4.08m. The company was co-founded by current Chairman Bruce Plested in 1978.. Plested decided to start up his own freight business after he was fired over "allegedly swinging a . authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. The Mainfreight instruction manual is short: Feel the fear but do it anyway. The trust now has a 14.83 per cent shareholding in Mainfreight, down from 16.29 per cent. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). "In more recent times I just read business books, which is quite naughty, he adds. They put it up for sale in 2012 with an asking price of. The company management answer to the board and the latter should represent the interests of shareholders. This may not be consistent with full year annual report figures. The government vs Mainfreight. You can click here to see if those insiders have been buying or selling. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. The High Court said no. Putiki Bay at Kennedy Point is, he says, ideal because it's deep compared to other nearby bays, "2.5m to 5.5m". Liked by Tansy Austin. [11], Since 2011, Mainfreight, under the Wim Bosman name, have opened new branches in Bergen op Zoom in The Netherlands, Cluj-Napoca in Romania, Frankfurt and Gelsenkirchen in Germany, London in United Kingdom, and Pozna/Lubo in Poland. Reporting directly to the CEOfirst to founder Bruce Plested, and then to Don. It's all part of the firms celebrated Mainfreight way. Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. Retailer Briscoe Group was down 11c or 1.91 per cent to $5.65; Air New Zealand lost 3.5c or 2.11 per cent to $1.62; AFT Pharmaceuticals fell 10c or 2.15 per cent to $4.55; Scott Technology declined 9c or 3.5 per cent to $2.48; Vista Group decreased 8c or 3.43 per cent to $2.25; and Plexure Group was down 4c or 5.33 per cent to 71c. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. So it went to the Court of Appeal, which also said no. Bryan has a wealth of experience, both in executive and board roles. All berths beside the wharf, closest to the land, are pre-sold. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. He brings strong financial skills and business acumen to the role. Doesnt matter what your position is. The definition of company insiders can be subjective and does vary between jurisdictions. Aquick summary of everything BusinessDesk has published in the previous 24 hours. [3][4], When the company was founded it entered a highly regulated transport market. However, high insider ownership can also give immense power to a small group within the company. His career has seen him develop or be closely involved with 18 marinas including pua in the Bay of Islands, rkei, Whangamata, Bayswater, Whangaparaoa's Gulf Harbour, Bucklands Beach, Westharbour, Pine Harbour, Tutukaka, Whitianga, Wellington's Mana Marina, Shute Harbour in the Whitsundays, Townsville and Abell Point in Queensland, Fiji's Musket Cove, at Canada's Songees and Santosa Island and at Singapore's Sentosa. He is also on the board of Rorohara No 2 Trust. All subscriptions auto renew but are easy to cancel. But Plested also devours books that look askance at the global economic system. Mair is using Swedish technology from a floating marine business in Gothenburg. Notably, sometimes top-level managers are on the board themselves. That noted, before packing your bags you can expect to spend your first few years in Australia building your knowledge, skills and understanding of the Mainfreight way. The Mainfreight culture is what has kept Drinkwater at the company for so long, which he describes as like you would expect a family to be. Copyright 2023 IDG Communications, Inc. [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. "That was the start of the marina division where we got up to 60 staff eventually.". Tilt's share price edged ahead 2c to $8.02. The Mainfreight founder also has a social conscience. subscription needed. Clearly the two are well matched. "I don't look at myself as a developer. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Take IDCs ERP Modernization Maturity Assessment to benchmark your organizations progress against your peers. With 5.1% and 4.6% of the shares outstanding respectively, Fisher Funds Management Limited and Harbour Asset Management Limited are the second and third largest shareholders. With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. Drinkwater has contributed to the local CIO community and has regularly featured in the CIO50 New Zealand Awards in 2019 he was No. Based on our data team's research, Ben Fitts is the Mainfreight's CEO. Bruce is a one-off," Duff said. Ultimately the future is most important. Two sizes of cannonballs emerged, he says, possibly fired around the 1840s to 1860s when boats discharged their arsenal once they sailed into what were peaceful harbours. Its his view that many CIOs fall into the cloud sprawl trap. Together we believe that for our tamariki "Anything is Possible.". Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. As for Mainfreight, he wants to build a 100-year company, and so there's no short-term decisions.. The government must focus on supporting exporters to innovate. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. This can be negative in some circumstances. Plesteds early home life was a book-filled one, and his mother would always read to her two sons. When the company was founded it entered a highly regulated transport market. Few other business leaders think in terms of a 100 years or so. See more CEO Bruce believes people grow when they are given this responsibility. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. How Cisco maintains a new sustainable startup model, producing the next generation of industry-leading technologies. The top 10 UPS competitors are; FedEx, DB Schenker, Mainfreight, United States Postal Service, DPDgroup, Purolator, CEVA Logistics, C. H. Robinson, DHL, and YRC Worldwide. Thats at least 10% of the branchs profit, and we paid worldwide $28 million in profit bonuses last year, Drinkwater says. Mainfreight has a policy of developing people and promoting them internally. ", Selwyn says Plested has personal qualities that make this management style work. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Plested has planted 100,000 native trees to bring bird life back to parts of the country and, Braid says, he insisted on the firm using recycle bins long before they were common. The index's intraday high was 12,587.68 points. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). We did a concert which raised about $40,000 for lawyers and I gave them an amount of money very similar to that three to six months ago.". Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Find out more about how we use your personal data in our privacy policy and cookie policy. Weve been very innovative to the business, he says. He is most proud of his professional qualifications. I generally like to see some degree of insider ownership, even if only a little. While peoples salaries reflect their positions of responsibility, the idea is that at a branch level they can only win by playing as a team. Bruce George Plested founded Mainfreight Ltd. He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. 2 Trust. madness, quite extreme. Empowerment can be rewarding in other ways. From there, providing you have passion, the Mainfreight . Every year, Mainfreight funds a calendar. 1. The context, as both recall, was the murder of a child. The lender said it's engaged with the board on "plans for remediation". It's the answer to poverty," says Mainfreight co-founder Bruce Plested. Institutional investors commonly compare their own returns to the returns of a commonly followed index. In looking back at his career, Drinkwater tells CIO New Zealand there are two ways for CIOs to measure their success: One is whether the solutions they deploy are better than people expected, and the other is whether the business keeps wanting to spend money on technology. Profile. Many of us here believe in the same principles, we're here for the long term. Working with Ngti Poa Iwi Trust Board and others in the community are aspects he takes pride in. In the process, Bruce Plested has become one of New Zealand's latest billionaires. Click on [Agree] or [Disagree] to accept or refuse cookies. On the plus side for Mainfreight shareholders, Bruce Plested has elected not to receive remuneration (i.e. Photo / NZME. "I've always been interested in education. "At the moment, you only need to go 200m off from Oneroa and discharge." Mainfreight founder Bruce Plested says businesses can help solve inequality and low wage growth through profit sharing with employees, which this year cost the company $27 million. "Each person has responsibility for what they do. Selwyn has worked with Plested for 41 years, since before he started Mainfreight. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. 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's the answer to poverty, says Mainfreight co-founder Bruce Plested. He was later joined by Neil Graham. Those iwi members are also vowing to stop the scheme, citing the kaupapa of the moana. Mainfreight group managing director Don Braid says: "The $1000 gift was unexpected, but in a way it came as no surprise to those who had worked with Bruce for some time. Reminder, this is a Premium article and requires a subscription to read. Mainfreight group managing director, Don Braid, (l) and chairman, Bruce Plested. The company is led by founder Bruce Plested and managing director Don Braid. As a Government Minister, Richard was responsible for creating SOEs, deregulating telecommunications and broadcasting, reforming ports, airports, railways and aviation. But to understand Mainfreight better, we need to consider many other factors. The port company is well advanced with its new 350m long wharf, having installed 380 of the 400 piles, constructed 35 per cent of the deck and completed more than half of the dredging. Plans to develop Waiheke Island's first marina are opposed by Mori as well as rich-lister Bruce Plested, chairman and founder of Mainfreight with a $6.8 billion market capitalisation. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. That barge was tagged by protesters "we don't want u!!". The pair see books and reading as a way to get people out of the poverty trap. Something else binds employees to their branch: Mainfreight pays a bonus on a branch by branch basis where 10 per cent of net profit goes to employees. I do want to say that there is no way wed ever go build our own email. 2 Trust's extensive shareholding at $75 a share. Grant Samuel & Associates Ltd. Kate brings to the Board her broad financial and analytical experience acquired in a range of industries, both in New Zealand and overseas. It's a tough venue to weave into . Please contact your card provider or customer support. Mainfreight founder Bruce Plested, who started the firm in 1978, remains involved as board chairman, and the average tenure of Mainfreight's global leadership team is 20 years, Bowley. The company was founded by Bruce G. Plested in 1978 and is headquartered in Auckland, New Zealand. (Image: Supplied). As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. The marina will be open to the public during daylight hours, with access available to the main marina pier and caf. madness, quite extreme. I just liked reading and it was regarded as being very important at school, he told BusinessDesk, recalling his most memorable teacher was one who was always reading to students. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. Founder Bruce Plested and Group President Don Braid highlighted this exciting site at the annual general shareholders meeting! "By having a generosity spirit, we get far more back than we give away" - Bruce Plested, Founder and Chairman of Mainfreight. Concerned about the content? He will officially leave the business at the end of this year and his successor, John Eshuis, who has held finance and IT roles at Mainfreight since 2002, has been named his successor. You wont get many consultants that tell you to build a bespoke system.. Our information suggests that insiders maintain a significant holding in Mainfreight Limited. The seafloor slopes naturally, eliminating any need for dredging. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! The index's intraday high was 12,587.68 points. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. Last Saturday, the picturesque $23 million ocean-front farm owned by Mainfreight boss Bruce Plested, whose wealth NBR estimated at $270m last year, was used for a family affair. In 2006 when we created our new data centre, I was concerned there wasnt enough room in that footprintits not much bigger than a meeting room. Boats will discharge into facilities at the bay end of the marina. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. [4] This operation was expanded with depots in Melbourne and Brisbane. It isnt only schools that lack technology know-how, its also company boards, where Drinkwater says they are often led by consultants. Plested got in touch with Duff after seeing the writer in a documentary, talking about the state of New Zealand. Plested and Braid are based at unfashionable Otahuhu in South Auckland. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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]. Here, he shares the lessons of his career with CIOs everywhere. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. The Board of Directors typically meet once a month for Board meetings. "I went crook at Alan. Mainfreight Limited is a listedNew Zealand logistics and transport company headquartered in Auckland. NZ companies are well below the global aspirational target for charitable giving. Precinct Properties reported a full-year revaluation gain of $284m including the $148.5m increase recognised at the end of December. To join your company account for BusinessDesk and enjoy full access, Property market metrics show the national average asking price is now almost $100,000 down on a year ago. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. One of the critical areas that we need to improve on is using data to create more predictability, he says. The Mainfreight instruction manual is short: Feel the fear but do it anyway. Plested's employees will certainly agree with that assessment. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. The speed of data transmission and the power of the compute has increased exponentially, while software solutions have become more efficient, and hardware has de-scaled. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. Last year the business had revenue of NZ$1.9 billion and expects to reach $2 billion this year. This endeavor launched the first permanent investment into South America. This size of ownership gives retail investors collective power. Brothers David and Kerry are also involved in the boating and marine sectors. 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. Subscribe to our free 7am Headlines newsletter. He is also on the board of Rorohara No 2 Trust. Global marketer a2 Milk's recovery ran out of puff after falling 18c or 2.93 per cent to $5.97. Bruce would make sure there was a roast dinner laid on for everyone who helped.". As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. Books are important to him. Appointment to Board 1978 - With Mainfreight since 1978. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. She says: "He can talk to people, of course the secret to doing that is being a good listener.". And Drinkwater says that COVID-19 has changed the nature of work irrevocably by showing that working from homeor from anywhereis achievable at scale. Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. To celebrate his 70th birthday Plested gave $1000 to everyone who had worked for Mainfreight for a year or more. He is also on the board of Rorohara No 2 Trust. This can be incompatible with technology, which is constantly changing. We have to make decisions based on five or ten years, which means often well pay for more now, before we need it, but knowing that we will need it, he says. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. transactions overall, the S&P/NZX 50 Index drifted, closing on its low for the day at 12,518.01, down 48.49 points or 0.39 per cent. "It's a small part of his overall holding and I suspect it would have pained him to sell. [17], "Shareholding Information - Mainfreight Limited", "Mainfreight co-founder Neil Graham dies", "Road transport regulation a controversial measure to protect railways", "Mainfreight announces agreement to acquire Halford International", "Mainfreight breaks into Europe with $227m acquisition", "Mainfreight sues for $18m after shock client loss", "Mainfreight gets $14m payout - drops Euro claim", "The Wim Bosman Group becomes Mainfreight", "Mainfreight sells Pan Orient Project Logistics and its 75% shareholding in LEP (New Zealand and Australia) for over A$83 million", "Mainfreight Limited (Mainfreight) completes sale of Pan Orient Project Logistics", "Target Logistics, Inc. Agrees to be Acquired by Mainfreight Limited", https://en.wikipedia.org/w/index.php?title=Mainfreight&oldid=1136159997, Daily Freight (NZ), Carotrans (Worldwide), Owens (AU/NZ), ChemCouriers (AU/NZ) Mainfreight Europe (EU), This page was last edited on 29 January 2023, at 01:07. Daughter Sarah Mair is marketing and sales manager and Tony Mair says more than 1000 people are on the company's database, updated about the project's progress. 3. The six-bedroom, seven-bathroom waterfront plantation with its own winery is owned by businessman David Parkinson and wife Deidre Crawford. He has also been involved in organisations outside Mainfreight, notably TUANZ when it was lobbying for a national fibre network a decade ago, and as the current chair of Duffy Books in Homes. It was founded by Bruce Plested in 1978 and headquartered in Auckland, New Zealand with 5,771 employees and over 240 branches across Australia, China, Europe, New Zealand and the United. {{ registerForm.errors.get('password') }}, {{ registerForm.errors.get('password_confirmation') }}, {{ plans[index].attributes.old_price | currency }}, Radical change is needed Productivity Commission, New listings drop, house asking prices down 10%, Sustainable drinks company partners with fellow B-Corp Kiwibank to take on the world, Consumer confidence lifts slightly, still 'extremely low', Primary industries bear brunt of cyclone, Treasury says, Deeply researched, twice-edited and fact-checked news, Reporters in Auckland, Hamilton, Tauranga, Wellington, Christchurch and Queenstown, Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers, Access to FundSource - the deepest data on KiwiSaver and managed funds, updated daily, World news from The Economist and Bloomberg.