He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. Now with over 8,000 employees and 282 branches in 26 countries, Mainfreight has an extensive presence in the global supply chain. He said it. 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. Brothers David and Kerry are also involved in the boating and marine sectors. Some small berths in the centre and other longer berths further out into the bay are unsold. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Tilt's share price edged ahead 2c to $8.02. 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. 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. He is a long-term bull on the stock and I have no issue whatsoever with his move.". Within four months of the sale, that system was ripped out and replaced by Mainfreights bespoke system at a cost of $25,000 and the finance team reduced to three people. The cheapest berths went for $180,000. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. Let's delve deeper into each type of owner, to discover more about Mainfreight. These must have served him well, given Mainfreights current NZX number six position on market capitalisation. Or use the information youve already given Google to create your subscription. He imagines he follows the rules but still gets "hauled off to a concentration camp". Port of Tauranga was up 4c to $7.30, and Marsden was down 3c to $6.02. Average Retirement Savings By Age: Are You Normal? The definition of company insiders can be subjective and does vary between jurisdictions. The pair see books and reading as a way to get people out of the poverty trap. Its his view that many CIOs fall into the cloud sprawl trap. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. "It turned out to be the best money they ever made, Plested admits. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. Liked by Brad Greer. We note that hedge funds don't have a meaningful investment in Mainfreight. [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. He was also involved in maritime projects in Singapore, Malaysia and Borneo followed. Bryan has a wealth of experience, both in executive and board roles. Bruce Plested. Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. 3. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. All berths beside the wharf, closest to the land, are pre-sold. 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. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. enter your email and well send you details, Mainfreight's Bruce Plested's love of books has benefited charity. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $ 7,200 and a 1969 Bedford truck. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. People expect more, boats got bigger. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. That will be a jack-up barge with a drilling rig, able to work on the 26 reinforced concrete piles for the new wharf. You can find historic revenue and earnings in this detailed graph. In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). Ideas. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. 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. Braid says over the years the chairman has designed a philosophy to run the company. As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. Send your RSVP to . This past Friday marked my final day with Mainfreight. Duffs confidence in Mainfreight has led to the charity taking a large stake in the company. He hasnt made any plans beyond the summer other than continuing as chair of Duffy Books in Homes, but he will be looking at new opportunities that crop up. I am proud to work in Sandoz Nordics where we have just been certified in Denmark as an accredited "Great Place to Work". Mair said another drilling rig would arrive shortly. This was the lion's share of the charity's total expenditure of $4.08m. As for Mainfreight, he wants to build a 100-year company, and so there's no short-term decisions.. People from the outside that take your watch and tell you how to read the time. This is a world where budgets are deemed 'bullshit'. In the meantime, opponent SKP hopes to go to court this month. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. Additionally, the company's CEO Donald Braid directly holds 2.8% of the total shares outstanding. "It's a disgrace, a kind of 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. 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 recalls how he and friends would swing off ropes on to the cliffs beneath what is now the Devon Park apartment tower at Stanley Point to dig large metal object out of the banks. Shares go up and down.". Weve probably trebled in size since then, yet were still using the same footprint. The philanthropist was recognised at the New Zealander of the Year awards. Mainfreight Americas 21,433 followers 7mo Hey there Dallas, TX! In 2001, Mainfreights management decided that technology needed a global role, and Drinkwater became CIO. 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. 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. 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. The context, as both recall, was the murder of a child. payment) for sitting on the Board since 2014. Mair did an engineering degree in Auckland in the early 1970s, then worked for the once-great Wilkins & Davies. FedEx remains UPS's biggest competitor. A year later they had nearly doubled in value to $11.10m. The wharf is expected to cost between $173m-$190m. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. Bruce is a one-off," Duff said. "It's a small part of his overall holding and I suspect it would have pained him to sell. However, high insider ownership can also give immense power to a small group within the company. Founding Owner & Executive. Founder Bruce Plested and Group President Don Braid highlighted this exciting site at the annual general shareholders meeting! He is most proud of his professional qualifications. This can be negative in some circumstances. 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. 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. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. Of initial expressions of interest in berths, 68 per cent have indicated they are Waiheke ratepayers, Mair says. 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. 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. "That was the start of the marina division where we got up to 60 staff eventually.". 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. [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. It also has investments in Z Energy and a portfolio run by Fisher Funds. They all know they are expected to look after customers, giving them a high quality freight service," he says. The Clermont-Auvergne-Rhne-Alpes Centre brings together the units located in the Auvergne region, from Bourbonnais to Aurillac via Clermont-Ferrand, with 14 research units and 14 experimental facilities, representing 840 staff (permanent and contractual staff). 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 companys annual report has become a must-read for Plesteds chairmans statement. [13] The transaction was completed on 6 June 2007. He brings strong financial skills and business acumen to the role. 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. [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. A "living wage" is paid, Plested has contributed to the Maori Party, and Mainfreight also sponsors a school in Otara. Executive Summary. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. The Top 200 Awards judges say he built a global transport company from nothing. The Top 200 Awards judges say he built a global transport company from nothing and has done many wonderful things along the way. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. 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. Insights Newsletter. Those iwi members are also vowing to stop the scheme, citing the kaupapa of the moana. 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. "I don't look at myself as a developer. The company was established in Auckland, New Zealand, in 1978 by our current Chairman, Bruce Plested. Plested's employees will certainly agree with that assessment. The latest ANZ-Roy Morgan Consumer Confidence Index has lifted one point in April, but still remains "at an extremely low level". In addition to the all-hands Board meetings, the Board will have a number of . Reporting is done weekly. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. The government vs Mainfreight. So SKP went to the High Court asking for permission for a rehearing in the Environment Court on the basis of having new evidence. It is very interesting to see that insiders have a meaningful NZ$1.4b stake in this NZ$6.8b business. Get in touch with us directly. At the time Plested said he just wanted to say thank you to the people who had given him so much. NZ companies are well below the global aspirational target for charitable giving. Kitt Littlejohn, an independent director of the marina business, says construction began in March because a valid resource consent existed. Mainfreight CEO and Executives. There's more to the man's generosity than this example. Nearly 30 years ago the billionaire helped kick-start the Duffy Books in Homes programme, along with writer Alan Duff and philanthropist Christine Fernyhough. He was later joined by Neil Graham. Notably, sometimes top-level managers are on the board themselves. "It's no use just giving people more money." Plested's early home life was a book-filled one, and his mother would always read to her two sons. 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. Profile. 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. Despite the protests, his view is the score is now 18 down, one to go. The other thing is to have our own ideas. "It's disappointing because it's my last one," Mair says of the Waiheke project. "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. Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. (Image: Supplied). The lender said it's engaged with the board on "plans for remediation". One of the critical areas that we need to improve on is using data to create more predictability, he says. Mainfreight Ltd. provides transportation and logistics solutions. 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. Plested is also a great reader; some of those ideas come from books. "I just give SKP money so it's more of an even fight. 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. Local firm Heron Construction has the manufacturing rights for that system here and Mair has been to Sweden to meet the firm's chiefs. The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. 2 Trust. It's possible your card provider is preventing us from charging the card. He says Plested's motivation mixes incentives with responsibility. Bruce Plested. New Engineer jobs added daily. Arriving fresh faced from university, this company for the past (almost) three years has. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. Swallows and Amazons, Arthur Ransomes perennial tale of a summer camping and sailing in the English Lake District, is one book he fondly remembers. "At the moment, you only need to go 200m off from Oneroa and discharge." Small company shows how the power of digital can transform lives. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. To celebrate his 70th birthday Plested gave $1000 to everyone who had worked for Mainfreight for a year or more. 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. Me Today has opened its $3.75m offer of shares to retail investors at 8.8c a share to help fund the purchase of King Honey, and Me Today's share price slipped 0.005c or 4.46 per cent to 10.7c. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. 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.. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. . It's no use just giving people more money.. 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. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). As for new sector-specific technologies, he says that driverless trucks are on their way but the technology isnt here yet. Normally institutions would own a significant portion of a company this size. 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. Photo / NZME. At each branch the profit and loss figures are put up on the cafeteria wall. The seafloor slopes naturally, eliminating any need for dredging. If youre in the kitchen or the branch manager, you get the same amount of dollars based on your branchs performance, Drinkwater says. "There'll be no dredging or reclamation and no interference with the tidal zone.". [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Insiders At Mainfreight Have Bought Stock Recently Over the last three months, we've seen significantly more insider buying, than insider selling, at Mainfreight. [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. There are no company memos and as little email as they can get away with. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. report on analyst forecasts for the company. As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. Its a way of saying things that couldnt be said elsewhere, Plested said. The road to the marina will be widened, improved in a strip around 200m long. 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. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). "I went crook at Alan. In 2008, the United States locations were re-branded as Mainfreight USA. madness, quite extreme. {{ 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. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. Last period it bought $2.88m worth of them. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. 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. Ultimately the future is most important. Everyone can see the bottom line and everyone understands what it means for the company and for themselves.

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