Change to Next-generation, cloud-based ERP systems yield new levels of strategic agility and business insights. payment) for sitting on the Board since 2014. SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. We will remind you three times before charging you. Dr Oliver Hartwich. They had a total of 1,540,506 employees among them. Its the end of the road at Mainfreight for CIO Kevin Drinkwater, who officially retires on 31 December 2020. Braid says the company offers staff training in every country it operates in. 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. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. The government vs Mainfreight. What sort of money? "I went crook at Alan. Braid says over the years the chairman has designed a philosophy to run the company. 1. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. Mainfreight employees are empowered to make decisions. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. He was later joined by Neil Graham. From our data, we infer that the largest shareholder is Bruce Plested (who also holds the title of Top Key Executive . Mainfreight founder Bruce Plested is on the cusp of joining New Zealand's tiny list of billionaires as the global logistics empire he built soars to new heights. The charitys aim is to promote a love of reading in children, with a focus on lower-income families. madness, quite extreme. 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. Based on our data team's research, Ben Fitts is the Mainfreight's CEO. Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is banned. In 2008, the United States locations were re-branded as Mainfreight USA. Having clocked almost 35 years, his tenure at one of New Zealands most successful global companies has been a long one. You wont get many consultants that tell you to build a bespoke system.. 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. When the company was founded it entered a highly regulated transport market. It was a 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. Plested runs the business as a series of semi-autonomous branches -- that way each employee can feel they are part of a close-knit team. Concerned about the content? He imagines he follows the rules but still gets "hauled off to a concentration camp". This suggests some credibility amongst professional investors. To join your company account for BusinessDesk and enjoy full access, On March 9, Kennedy Point Boatharbour began construction on-site of the island's first marina: a 186-berth project with 71 private car parks for berth holders, a new wharf, a central-spine walkway, cafe, offices, toilets, laundry and showers and stand-up paddleboard storage. Mainfreight group managing director, Don Braid, (l) and chairman, Bruce Plested. Located in a very diverse region rich in assets, not only geographically (relief, climate), but also economic and human, the Lyon-Grenoble Auvergne-Rhne-Alpes is the latest INRAE centre to be created. He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. "On the back of that, some falls in fixed mortgage rates and the pro Lost crops are expected to knock production by $100m a year. Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. That will then be pumped into 110,000-litre tanks under the about-to-be-built wharf for treatment "and then taken away", Mair says. Small company shows how the power of digital can transform lives. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/12 Its the right horses for courseswhere we have things very specific to the way we operate, then we will build it, as per our culture, in the way we do it.. The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. There is nothing better than having a rugby star saying I would not be an All Black if it weren't for books, says Plested. In New Zealand, Mainfreight has partnered with Spark on an internet of things (IoT) network to keep track of shipments, and this effort may extend to more analytical capability. We note that hedge funds don't have a meaningful investment in Mainfreight. One broker, who didn't want to be named, said Plested no doubt sold the shares to buy an asset. To join your company account for BusinessDesk and enjoy full access, Of initial expressions of interest in berths, 68 per cent have indicated they are Waiheke ratepayers, Mair says. Mair said another drilling rig would arrive shortly. Board meetings. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. A year later they had nearly doubled in value to $11.10m. 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 . She says: "He can talk to people, of course the secret to doing that is being a good listener.". Every year, Mainfreight funds a calendar. 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 has been listed on the New Zealand Exchange since 1996. Mainfreight chair and NBR Lister Bruce Plested has sold $75 million in Mainfreight shares to buy more property in Waiheke. Recent reads includeKleptomania: How Dirty Money is Conquering the World by Tom Burgiss, and Affluenza by Oliver James, a treatise on how consumerism on steroids is making people miserable and unfulfilled. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Leisure and travel stocks SkyCity Entertainment rebounded 10c or 2.9 per cent to $3.55; Serko gained 30c or 4.23 per cent to a new high of $7.40; and Tourism Holdings increased 4c to $2.57. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. Facilities for the wider boating community were, he said, a big plus on Waiheke. Fortunately, the pandemic has been kept at bay in New Zealand and the economy hasnt taken a dive, but Drinkwaters decision to retire from Mainfreight prevailed. Profile. 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. 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. 3. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. Having started his own freight business in 1978 when he set out with $7200 and an old Bedford truck, 78-year-old Plested now chairs a global juggernaut that goes from strength to strength. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. One of the critical areas that we need to improve on is using data to create more predictability, he says. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. This size of ownership gives retail investors collective power. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. The definition of company insiders can be subjective and does vary between jurisdictions. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. "By having a generosity spirit, we get far more back than we give away" - Bruce Plested, Founder and Chairman of Mainfreight. Visit Lyon. He imagines he follows the rules but still gets "hauled off to a concentration camp". You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. "At the moment, you only need to go 200m off from Oneroa and discharge." He has a home on Waiheke and said the marina was not in the locals' interests. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! Check out our latest analysis for Mainfreight. Drinkwater started at Mainfreight in 1986 as its financial controller, and he has held several roles, including in sales and warehousing in New Zealand and the US. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Normally institutions would own a significant portion of a company this size. [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. Plested's. Mair estimates a quarter of berths are for sailboats, the rest for motorboats. Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is. While they have used off-the-shelf solutions (or packages, as he describes them), Drinkwater says these often dont meet the needs of the business. Executive Summary. To get the disclaimer out of the way, Mainfreight's founder and chair Bruce Plested is not only a member of the Initiative. "It's about creating a feeling of whanau. He has also personally funded marinas at Tutukaka, pua and rkei. This was the lion's share of the charity's total expenditure of $4.08m. The Top 200 Awards judges say he built a global transport company from nothing and has done many wonderful things along the way. "Five-figure sums," Baigent said last year. Mainfreight Limited was founded in 1978 by chairman Bruce Plested. "I just give SKP money so it's more of an even fight. He says Plested's motivation mixes incentives with responsibility. Plested is also a great reader; some of those ideas come from books. Mainfreight Limited is a listedNew Zealand logistics and transport company headquartered in Auckland. 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. Thats why there are so many packages out there, because consultants find it easy to sell packages. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. One of the most concrete examples is the companys bonus scheme, whereby everyone in a branch is paid the same dollar amount in bonuses each year. Name & Title Bio. Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. 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. . Insiders At Mainfreight Have Bought Stock Recently Over the last three months, we've seen significantly more insider buying, than insider selling, at Mainfreight. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. "It's a disgrace, a kind of Plesteds friend Duff said they couldnt have done the Books in Homes scheme without him, from the original seeding finance to its rent-free offices in south Auckland, and Mainfreight volunteers. I generally like to see some degree of insider ownership, even if only a little. 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. Understand how edge computing is transforming business performance, Exit interview: Mainfreight CIO shares tech insights before signing off, dtSearch - INSTANTLY SEARCH TERABYTES of files, emails, databases, web data. You will be charged in 10 days unless you cancel beforehand. Precinct's portfolio will be valued at $3.3 billion at the end of June. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. "I've always been interested in education. We use functional and analytical cookies on our website to offer an optimal user experience. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. 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. Check out their presentation - https://bit.ly/3BAWpSs #mainfreight # . Stay informed on business, government and financial developments across New Zealand from our team of 27 journalists. To celebrate his 70th birthday Plested gave $1000 to everyone who had worked for Mainfreight for a year or more. 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. 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. Ryman Healthcare increased 28c or 2.17 per cent to $13.18; Turners Automotive picked up 14c or 3.33 per cent to $4.34; Evolve Education recovered 3c or 3.49 per cent to 89c; NZX was up 5c or 2.44 per cent to $2.10; and NZME gained 2c or 2.74 per cent to 75c. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. 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. Reporting is done weekly. [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. Read Less Key Principal: Bruce George PLESTED See more contacts Industry: Warehousing and Storage , Freight Transportation Arrangement , Transportation and Warehousing , General warehousing and storage , Special warehousing and storage, nec The Mairs enjoyed sailing and fishing. But Plested also devours books that look askance at the global economic system. Northport is forecasting a 15 per cent lift in container traffic volume for the financial year ending June. We can see that Mainfreight does have institutional investors; and they hold a good portion of the company's stock. Braid says Plested's vision is for the future. Boats will discharge into facilities at the bay end of the marina. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. Plesteds early home life was a book-filled one, and his mother would always read to her two sons. If you would like to customise your choices, click 'Manage privacy settings'. He has worked with author Alan Duff to put books in the homes of poorer children. "My involvement in these marina projects resulted in the sale of over 6000 marina berths.". Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. 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 . Now, SKP is going to the Supreme Court to get the High Court ruling overturned and allow it to go back to the Environment Court. This can be incompatible with technology, which is constantly changing. When the company was founded it entered a highly regulated transport market. 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.". He recalls the money was for spending, not investing. He says education is an area where New Zealand could improve by teaching students how to create new technology, rather than just be passive users of it. Under the visionary eye of founder and chairperson Bruce Plested, they say, the company's performance has demonstrated "total consistency, total focus". Mainfreight CEO and Executives. Lyon is France's third-largest city and a major tourist destination. In one example, the company had spent $20 million on an accounting system and had 50 people in its finance team. That means that even when the share price was higher. 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. Market leader Fisher and Paykel Healthcare was down 5c to $29.30 on trade worth $21.5m; Ebos Group fell 56c to $32.74; Chorus decreased 10c to $6.55; Freightways declined 15c to $11.90; and Skellerup Holdings shed 13c or 2.78 per cent to $4.55. Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder. Essentially the company helps firms move and store goods from A to B via land, air and sea. Insights Newsletter. But to understand Mainfreight better, we need to consider many other factors. Other Current Directorships: Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is banned. (Image: Supplied). The High Court said no. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! 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. There's no Mainfreight head office or military style hierarchy. Leverage your professional network, and get hired. The cheapest berths went for $180,000. Please contact your card provider or customer support. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come, Transcript : Australian Foundation Investment Company Limited - Shareholder/Analyst Call. The lack of enthusiasm for digital subjects may be because teachers dont have the expertise or passion for technology, and a way to solve this problem could be to have expert teachers come into the schools and teach block courses. Show more. The charity acquired more shares since then and they were worth $5.68m in June 2020. "It turned out to be the best money they ever made, Plested admits. The lender said it's engaged with the board on "plans for remediation". Bruce George Plested founded Mainfreight Ltd. Liked by Brad Greer. This endeavor launched the first permanent investment into South America. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. Our data suggests that Bruce Plested, who is also the company's Top Key Executive, holds the most number of shares at 15%. Plested is a thinker. Its usually considered a good sign when insiders own a significant number of shares in the company, and in this case, we're glad to see a company insider play the role of a key stakeholder. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. Books are important to him. [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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. The broad rally seen over the previous three trading days also petered out. He is also on the board of Rorohara No 2 Trust. Plested and Braid are based at unfashionable Otahuhu in South Auckland. 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. enter your email and well send you details, Mainfreight's Bruce Plested's love of books has benefited charity. 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. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. NZ shows little interest in Australian phosphate pollution fix, Tough road ahead to reduce NZ's emissions, says Forsyth Barr, Space: Victoria University's final frontier, Reuseable bank fit-outs XFrame's next target, 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, Wellington developer Mark Dunajtschik gets award, Businesses tithing a way to support charities, Arise Church lender wants answers following damaging report, The gift of time: how your bach can change lives. 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. [3][4], When the company was founded it entered a highly regulated transport market. Mainfreight started building its offshore business with move into the Australian market in 1989, driven by vision to provide logistics/technology-based bridge that would allow customers . 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. After the 1987 sharemarket crash and the firm's end, Mair founded a construction company and built the wharf in the Chatham Islands, and got the contract to repair thousands of metres of wharves in Auckland and Onehunga, including at the naval base. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. In the process, Bruce Plested has become one of New Zealand's latest billionaires. Formerly Halford Young, Halford is a private logistics company and freight forwarder with operations and networks in Australia and New Zealand, Japan, Germany, throughout Asia and the United States.[6]. The index's intraday high was 12,587.68 points. Despite the protests, his view is the score is now 18 down, one to go. Books are handed out at some 510 participating schools, often with a role model on hand. The other thing is to have our own ideas. Brothers David and Kerry are also involved in the boating and marine sectors. 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. Thats at least 10% of the branchs profit, and we paid worldwide $28 million in profit bonuses last year, Drinkwater says. All subscriptions auto renew but are easy to cancel. The pair see books and reading as a way to get people out of the poverty trap. How Cisco maintains a new sustainable startup model, producing the next generation of industry-leading technologies. Plested's secretary Carol Selwyn says she doesn't do slow: "It would be hard to work for anyone who moves slower than I do." Asia, and the United States. He is most proud of his professional qualifications. His intellect and pragmatic approach is highly regarded at the Board table. Many of us here believe in the same principles, we're here for the long term. Thats why we divide the profit at the branch evenly. "In more recent times I just read business books, which is quite naughty, he adds. The government must focus on supporting exporters to innovate. Bruce George Plested founded Mainfreight Ltd. Mair is using Swedish technology from a floating marine business in Gothenburg. It's grotesque if you see what they're trying to do," Plested said of Tony Mair's 186-berth marina proposal for Putiki Bay, Kennedy Point. Founder Bruce Plested and Group President Don Braid highlighted this exciting site at the annual general shareholders meeting! We, Yahoo, are part of the Yahoo family of brands. Mainfreight dominated the trading on the New Zealand sharemarket after it was revealed that its chairman Bruce Plested sold $75 million worth of shares in the transport and logistics company. This past Friday marked my final day with Mainfreight. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. The latest ANZ-Roy Morgan Consumer Confidence Index has lifted one point in April, but still remains "at an extremely low level".

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