If you would like to customise your choices, click 'Manage privacy settings'. Last year, CoGo partnered with Westpac to promote its carbon tracker to the bank's customers. Thats why there are so many packages out there, because consultants find it easy to sell packages. He imagines he follows the rules but still gets "hauled off to a concentration camp". Richard Prebble is by profession a lawyer. But to understand Mainfreight better, we need to consider many other factors. This can be negative in some circumstances. 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. [13] The transaction was completed on 6 June 2007. That barge was tagged by protesters "we don't want u!!". {{ 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. These must have served him well, given Mainfreights current NZX number six position on market capitalisation. "I've always been interested in education. The broad rally seen over the previous three trading days also petered out. Please note that with cookies disabled you will have a degraded experience with some features. Books are handed out at some 510 participating schools, often with a role model on hand. 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. Braid says Mainfreight is a strong believer that people can make mistakes, but though Plested can be a tolerant manager, Braid says there's nothing loose about the way the business is run: "Bruce has an eye for detail.". Generally. Clearly the two are well matched. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. In his 35-year career, Kevin Drinkwater has seen tremendous change and many fads. 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. madness, quite extreme. A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. 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. He was sent to the Bluff aluminium smelter and Manapouri underground power projects, helped drive a 500m channel through a Samoan coral reef, and helped build 48 bridges in Fiji. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. Plested and Braid are based at unfashionable Otahuhu in South Auckland. [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. Fri, 13 May 2022 "I've always been interested in education. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. You wont get many consultants that tell you to build a bespoke system.. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Mainfreight chair and NBR Lister Bruce Plested has sold $75 million in Mainfreight shares to buy more property in Waiheke. People from the outside that take your watch and tell you how to read the time. 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. I like to dive deeper into how a company has performed in the past. Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. It's no use just giving people more money.. Show more. 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. From our data, we infer that the largest shareholder is Bruce Plested (who also holds the title of Top Key Executive) with 17% of shares outstanding. 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. Aligned with shareholders. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. click here to see if those insiders have been buying or selling. 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. Weve been very innovative to the business, he says. The Mainfreight instruction manual is short: Feel the fear but do it anyway. 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. 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. 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. Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/12 The company is led by founder Bruce Plested and managing director Don Braid. 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.". The latest ANZ-Roy Morgan Consumer Confidence Index has lifted one point in April, but still remains "at an extremely low level". The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. Plested is a thinker. To join your company account for BusinessDesk and enjoy full access, Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/04 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. Reporting directly to the CEOfirst to founder Bruce Plested, and then to Don. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. (Image: Supplied). 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. Working with Ngti Poa Iwi Trust Board and others in the community are aspects he takes pride in. During his tenure, Drinkwater has witnessed huge changes in technology. FedEx remains UPS's biggest competitor. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. We wont charge for 10 days. 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. 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. He said it. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! 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. 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 . Concerned about the content? 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 . 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. This is a world where budgets are deemed 'bullshit'. At Mainfreight we all eat at one big long table.". Braid says over the years the chairman has designed a philosophy to run the company. He has a home on Waiheke and said the marina was not in the locals' interests. Mainfreight has a policy of developing people and promoting them internally. 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 . For six years, he has fought to build an Auckland marina adjacent to SeaLink's vehicle ferry terminal and breakwater on Waiheke Island. Shares go up and down.". Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. You may withdraw your consent at any time. Bruce George Plested founded Mainfreight Ltd. He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. They put it up for sale in 2012 with an asking price of. Executive Summary. Despite continued strong volume of You will be charged in 10 days unless you cancel beforehand. Average Retirement Savings By Age: Are You Normal? Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. "In more recent times I just read business books, which is quite naughty, he adds. 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. No matter what level you are at, people care for each other, and thats demonstrated in many ways. 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. Mainfreight is a pretty big company. Of the 186 berths, 150 are pre-sold, with deposits taken of around 20 per cent and balances due as the project reaches hallmark stages. It also has investments in Z Energy and a portfolio run by Fisher Funds. 14 July, 2017. There's more to the man's generosity than this example. "We changed from a u-shape to a central pine walkway 3.3m wide by 150m long.". Liked by Brad Greer. The project is downsized from the original plans. This reading helps inform Plesteds world views and contributes toward his impassioned statements on climate change and the need for better education standards. In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). 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. That means that even when the share price was higher. mainfreight 250bruce plested1978 Additionally, the company's CEO Donald Braid directly holds 2.8% of the total shares outstanding. 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. When the company was founded it entered a highly regulated transport market. That single transaction was for NZ$3.5m worth of shares at a price of NZ$69.49 each . Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. He earlier studied science at the Victoria University of Wellington. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. He was also involved in maritime projects in Singapore, Malaysia and Borneo followed. There are no company memos and as little email as they can get away with. In 2016, when Auckland Council granted consent, SKP appealed that to the Environment Court but was refused and the consent was upheld. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. She says: "He can talk to people, of course the secret to doing that is being a good listener.". The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. The business may have a requirement, but its our job is to make it even better than what they thought they wanted. 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. The Top 200 Awards judges say he built a global transport company from nothing. In one example, the company had spent $20 million on an accounting system and had 50 people in its finance team. A licence from New Zealand Railways Corporation was needed to carry freight over 150km. The High Court has backed the sale of Tilt Renewables to Powering Australian Renewables (owning the Australian business) and Mercury Energy (taking over the New Zealand business), and Tilt shareholders will meet on July 14 to vote on the deal worth $8.10 a share.
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