Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. 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. Lyon is France's third-largest city and a major tourist destination. 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. He has a home on Waiheke and said the marina was not in the locals' interests. enter your email and well send you details. Aquick summary of everything BusinessDesk has published in the previous 24 hours. Mainfreight 5 years 8 months National Sales Manager Apr 2021 - Present2 years 1 month New Zealand Sales Manager Jan 2020 - Apr 20211 year 4 months Auckland, New Zealand Account Manager Apr 2018 -. 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.". At each branch the profit and loss figures are put up on the cafeteria wall. A license from New Zealand Railways Corporation was needed to . [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Working with Ngti Poa Iwi Trust Board and others in the community are aspects he takes pride in. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. Take IDCs ERP Modernization Maturity Assessment to benchmark your organizations progress against your peers. 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. 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. Our information suggests that insiders maintain a significant holding in Mainfreight Limited. There were 76 gainers and 67 decliners over the whole market, with 50.85 million shares worth $278.23m changing hands. However, high insider ownership can also give immense power to a small group within the company. 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. Its his view that many CIOs fall into the cloud sprawl trap. Bruce is a one-off," Duff said. The marina will be open to the public during daylight hours, with access available to the main marina pier and caf. 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. Plested says some households ended up with 60 books on their shelves. Other high profile residents on Waiheke include former All Blacks rugby coach Sir Graham Henry, Mainfreight transport founder Bruce Plested and New Zealand's richest man Graeme Hart, who bought . madness, quite extreme. Mair said another drilling rig would arrive shortly. 3. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. The Mainfreight instruction manual is short: Feel the fear but do it anyway. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. But David Baigent of marina opponents SKP Inc describes the project as "an offensive, elitist edifice". Much closer on the horizon are electric trucks. The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. Mainfreight has a policy of developing people and promoting them internally. This was the lion's share of the charity's total expenditure of $4.08m. Bruce Plested. Its share price increased 1.5c to $1.62. 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. 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. The pitch, the house, and much of the bay belong to Kiwi businessman, philanthropist and sports fan Bruce Plested, a founder of the Mainfreight freight company. For six years, he has fought to build an Auckland marina adjacent to SeaLink's vehicle ferry terminal and breakwater on Waiheke Island. That means that even when the share price was higher. I am proud to work in Sandoz Nordics where we have just been certified in Denmark as an accredited "Great Place to Work". Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Third year in a row Milford has been awarded the Consumer People's Choice for KiwiSaver by Consumer NZ. Appointment to Board 1978 - With Mainfreight since 1978. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Founder Bruce Plested and Group President Don Braid highlighted this exciting site at the annual general shareholders meeting! "That was the start of the marina division where we got up to 60 staff eventually.". Get in touch with us directly. payment) for sitting on the Board since 2014. 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. The firm offers managed warehousing and international and domestic freight forwarding services. 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. 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. 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. On March 9, Heron Construction Co sent in the 180-tonne barge Calliope, a 50m x 20m structure topped by a 150ft beam crane, able to lift the heavy gear into place at Kennedy Point. Mair did an engineering degree in Auckland in the early 1970s, then worked for the once-great Wilkins & Davies. The High Court said no. A "living wage" is paid, Plested has contributed to the Maori Party, and Mainfreight also sponsors a school in Otara. Mainfreight group managing director, Don Braid, (l) and chairman, Bruce Plested. Find out "It's a small part of his overall holding and I suspect it would have pained him to sell. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. At Mainfreight we all eat at one big long table.". Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. It's always worth thinking about the different groups who own shares in a company. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . 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. It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. You will be charged in 10 days unless you cancel beforehand. If you would like to customise your choices, click 'Manage privacy settings'. 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. Napier Port held an institutional investor day and rose 14.8c or 4.52 per cent to $3.42. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. 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. Mair is the youngest of three. Name & Title Bio. Braid says instead of these there's a lot of "picking up the phone and talking". In May, the. 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]. The Mairs enjoyed sailing and fishing. Mainfreight has international operations in the United States through CaroTrans International and most recently Mainfreight International businesses after the 2007 acquisition of Target Logistics, in Asia (nine branches in China, one each in Taiwan, Singapore and Hong Kong). more. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. As for new sector-specific technologies, he says that driverless trucks are on their way but the technology isnt here yet. Bruce Plested. subscription needed. Additionally, the company's CEO Donald Braid directly holds 2.8% of the total shares outstanding. "I just give SKP money so it's more of an even fight. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. A look at the shareholders of Mainfreight Limited (NZSE:MFT) can tell us which group is most powerful. Bruce G Plested, Mainfreight Ltd: Profile and Biography - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and. Liked by Brad Greer. 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. "When Mainfreight was starting out, people had to work late on Thursday nights loading sea freighters. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. We use functional and analytical cookies on our website to offer an optimal user experience. That barge was tagged by protesters "we don't want u!!". We wont charge for 10 days. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Mainfreight, formed in 1978, has 240 branches. Putiki Bay at Kennedy Point is, he says, ideal because it's deep compared to other nearby bays, "2.5m to 5.5m". Every year, Mainfreight funds a calendar. report on analyst forecasts for the company. I generally like to see some degree of insider ownership, even if only a little. 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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. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Founded in 1969 as Dunedin Customs Brokers Ltd, DCB International provides international air and sea freight services from Dunedin. 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. Despite continued strong volume of And Drinkwater says that COVID-19 has changed the nature of work irrevocably by showing that working from homeor from anywhereis achievable at scale. He was also involved in maritime projects in Singapore, Malaysia and Borneo followed. 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 do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. It's a tough venue to weave into . Based on our data team's research, Ben Fitts is the Mainfreight's CEO. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. The relationship has been ongoing. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. [3] [4] When the company was founded it entered a highly regulated transport market. 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. 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.". Mair is using Swedish technology from a floating marine business in Gothenburg. He is also fast-moving. "It turned out to be the best money they ever made, Plested admits. A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. Bruce George Plested founded Mainfreight Ltd. [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. He has also personally funded marinas at Tutukaka, pua and rkei. Reporting is done weekly. But to understand Mainfreight better, we need to consider many other factors. 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. He is also on the board of Rorohara No 2 Trust. This endeavor launched the first permanent investment into South America. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Mainfreight Ltd. provides transportation and logistics solutions. (Image: Supplied). It isnt only schools that lack technology know-how, its also company boards, where Drinkwater says they are often led by consultants. The other thing is to have our own ideas. You wont get many consultants that tell you to build a bespoke system.. In 2001, Mainfreight's management decided that technology needed a global role, and Drinkwater became CIO. We note that hedge funds don't have a meaningful investment in Mainfreight. 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. The road to the marina will be widened, improved in a strip around 200m long. Books are important to him. That single transaction was for NZ$3.5m worth of shares at a price of NZ$69.49 each . The lender said it's engaged with the board on "plans for remediation". He notes that Mainfreight favours a sustainable approach through programmes such as recycling water, installing solar panels, deploying hybrid and electric vehicles in its car fleet, and favouring rail over road where possible. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Shares go up and down.". Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/04 The site faces the prevailing southwesterly and berths are designed so boat sterns point into that wind, giving the least resistance or the lowest wind load. 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. Kitt Littlejohn, an independent director of the marina business, says construction began in March because a valid resource consent existed. No BusinessDesk Now with over 8,000 employees and 282 branches in 26 countries, Mainfreight has an extensive presence in the global supply chain. Click on [Agree] or [Disagree] to accept or refuse cookies. Appointment to Board 1978 - With Mainfreight since 1978. When such a trade goes wrong, multiple parties may compete to sell stock fast. Please contact your card provider or customer support. Neil Graham joins Bruce Plested helping shepherd the company into what is now a publicly-listed logistics firm, Plested's brother Gerald starts Mainfreight's first international sea and airfreight business, Don Braid joins through acquisition of Daily Freightways, Bought Netherlands firm as European springboard, Family feel: Don Braid's sons also work in the business, Strong association with Bairds Mainfreight Primary School. During his tenure, Drinkwater has witnessed huge changes in technology. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. "It's a disgrace, a kind of 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. The trust now has a 14.83 per cent shareholding in Mainfreight, down from 16.29 per cent. Reporting directly to the CEOfirst to founder Bruce Plested, and then to Don Braidhe has been involved in every milestone of a business that has largely grown through acquisition. 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. 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. 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. The project is downsized from the original plans. Thats why there are so many packages out there, because consultants find it easy to sell packages. What sort of money? In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). Yes, we are using a lot more energy and cooling, but the density of the compute has been a huge enabler., Drinkwater estimates that just 5% of its compute is in the public cloud, with 95% in servers in New Zealand, Asia, Australia, and the US. It has a market capitalization of NZ$6.8b. Mainfreight CEO and Executives. 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. The context, as both recall, was the murder of a child. "By having a generosity spirit, we get far more back than we give away" - Bruce Plested, Founder and Chairman of Mainfreight. During the first lockdown in March 2020 when COVID-19 was set to rage across New Zealand and mass unemployment was expected if the economy crashed, he wondered if it was time to give someone else a go at Mainfreight. With Christmas looming, Drinkwater is looking forward to taking some time out, project-managing his familys new house build in Russell, and getting to grips with the drone hes been given. Local firm Heron Construction has the manufacturing rights for that system here and Mair has been to Sweden to meet the firm's chiefs. "I've always been interested in education. Mainfreight listed on the NZX in 1996 Mainfreight was founded on March 23, 1978 by Bruce Ples The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. 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 Top 200 Awards judges say he built a global transport company from nothing. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. We aim to bring you long-term focused analysis driven by fundamental data. 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 . Books are handed out at some 510 participating schools, often with a role model on hand. The Mainfreight culture is also focussed on the long term, and the business has a 100-year vision. madness, quite extreme. He said it. Plested's employees will certainly agree with that assessment. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. [10] In August 2013, Mainfreight and the family of Wim Bosman reached an out of court agreement for compensation to the tune of 8.2 million or $14 million. Liked by Brad Greer. "There'll be no dredging or reclamation and no interference with the tidal zone.". Executive Summary. 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. Small company shows how the power of digital can transform lives. Plested is within a hair's breadth of becoming a billionaire - on paper at least - from his Mainfreight stake alone when the shares hit an all-time high $60.10 yesterday, valuing the 16.2 million shares he directly owns or oversees as a trustee at $974.7 million.The shares were trading this morning at $59.30 for a valuation of $960.55 million for That will be a jack-up barge with a drilling rig, able to work on the 26 reinforced concrete piles for the new wharf. 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. They describe him as both a "rounded person who links to the commercial community" and an "extraordinary character". In the process, Bruce Plested has become one of New Zealand's latest billionaires. He is also on the board of Rorohara No 2 Trust. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. Clearly the two are well matched. 1. 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. 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. 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. We, Yahoo, are part of the Yahoo family of brands. The wharf is expected to cost between $173m-$190m. Mainfreight is a global supply chain company that prides itself for having "special people, special company" . Plested is also a great reader; some of those ideas come from books. To join your company account for BusinessDesk and enjoy full access, The seafloor slopes naturally, eliminating any need for dredging. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. You can click here to see if those insiders have been buying or selling. Please note that with cookies disabled you will have a degraded experience with some features. In his 35-year career, Kevin Drinkwater has seen tremendous change and many fads. 2 Trust. This morning in assembly, we had the privilege of having two distinguished Old Boys do a panel - Peter Thompson '76, Managing Director of Barfoot & Thompson, and Bruce Plested '55, Executive . 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. It also has investments in Z Energy and a portfolio run by Fisher Funds. Mair estimates a quarter of berths are for sailboats, the rest for motorboats. Everyone can see the bottom line and everyone understands what it means for the company and for themselves. This can be negative in some circumstances. Meal kit company My Food Bag rose 6c or 4.26 per cent to $1.47 after telling the market it will be using social enterprise firm GoGo's carbon footprint tracker app. 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. It's all part of the firms celebrated Mainfreight way. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. Marina services will run in hollow shafts within the new pontoons, bringing power, fresh water and fibre for communications and security cameras to each berth. The list of best things to do in Auvergne-Rhne-Alpes includes sightseeing, pretty towns, history, and natural wonders! Ideas. [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. The pair see books and reading as a way to get people out of the poverty trap. With the takeover of the Owens Group in 2003 they purchased Owens International Australia. [13] The transaction was completed on 6 June 2007. Plested's. 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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. This is a world where budgets are deemed 'bullshit'. They put it up for sale in 2012 with an asking price of. Our data suggests that Bruce Plested, who is also the company's Top Key Executive, holds the most number of shares at 15%. Of initial expressions of interest in berths, 68 per cent have indicated they are Waiheke ratepayers, Mair says.
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