SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. In one example, the company had spent $20 million on an accounting system and had 50 people in its finance team. Despite the protests, his view is the score is now 18 down, one to go. His intellect and pragmatic approach is highly regarded at the Board table. Will Mainfreight's Bruce Plested be NZ's next billionaire? Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. "Five-figure sums," Baigent said last year. In the process, Bruce Plested has become one of New Zealand's latest billionaires. There's more to the man's generosity than this example. All subscriptions auto renew but are easy to cancel. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. 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. It isnt only schools that lack technology know-how, its also company boards, where Drinkwater says they are often led by consultants. 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. He imagines he follows the rules but still gets "hauled off to a concentration camp". 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. 343 Engineer jobs in Grenoble, Auvergne-Rhne-Alpes, France (5 new) Executive Summary. Richard Prebble is by profession a lawyer. The company was founded by Bruce G. Plested in 1978 and is headquartered in Auckland, New Zealand. Bruce George Plested founded Mainfreight Ltd. 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. Braid says Plested's vision is for the future. At the time Plested said he just wanted to say thank you to the people who had given him so much. They had a total of 1,540,506 employees among them. 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. The gift cost more than $4 million of his own money. 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 endeavor launched the first permanent investment into South America. You can cancel anytime with two clicks, an email or a phone call. It was a As for Mainfreight, he wants to build a 100-year company, and so there's no short-term decisions.. 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. [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 context, as both recall, was the murder of a child. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. Two sizes of cannonballs emerged, he says, possibly fired around the 1840s to 1860s when boats discharged their arsenal once they sailed into what were peaceful harbours. 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. Additionally, the company's CEO Donald Braid directly holds 2.8% of the total shares outstanding. 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.". Mainfreight founder Bruce Plested battling Waiheke Island marina During his farewell speech to the 50 people in Mainfreights NZ technology team (the global IT team numbers 125), Drinkwater shared his tips for success, including these 10. 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. Every year, Mainfreight funds a calendar. A "living wage" is paid, Plested has contributed to the Maori Party, and Mainfreight also sponsors a school in Otara. This reading helps inform Plesteds world views and contributes toward his impassioned statements on climate change and the need for better education standards. A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. To join your company account for BusinessDesk and enjoy full access, A year later they had nearly doubled in value to $11.10m. 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. "When Mainfreight was starting out, people had to work late on Thursday nights loading sea freighters. 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. "Each person has responsibility for what they do. ", Selwyn says Plested has personal qualities that make this management style work. 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. Baigent said late last year that the organisation hoped for a result by around April and he indicated SKP was well-resourced to carry out the half-decade stoush. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. Despite continued strong volume of It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. 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. madness, quite extreme. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. 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. 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. He has worked with author Alan Duff to put books in the homes of poorer children. SUPPLIED Bruce Plested - founder of Mainfreight - has fired a salvo about social issues facing New Zealand ahead of national elections. 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. Mainfreight Limited (NZSE:MFT) insiders placed bullish bets worth NZ$3 "In more recent times I just read business books, which is quite naughty, he adds. When the company was founded it entered a highly regulated transport market. This is a world where budgets are deemed 'bullshit'. From there, providing you have passion, the Mainfreight . This may not be consistent with full year annual report figures. Greg Hurrell left a journalism career to work around the Middle East for 23 years and returned to New Zealand full-time in 2020. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. 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. Braid says: "There a capitalist motive behind this, Bruce believes profit is a great motivator.". The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. 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. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. This risk is higher in a company without a history of growth. "We changed from a u-shape to a central pine walkway 3.3m wide by 150m long.". Our data suggests that Bruce Plested, who is also the company's Top Key Executive, holds the most number of shares at 15%. The Mainfreight instruction manual is short: Feel the fear but do it anyway. Mainfreight Directors Precinct's portfolio will be valued at $3.3 billion at the end of June. Take IDCs ERP Modernization Maturity Assessment to benchmark your organizations progress against your peers. 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. 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. Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. But David Baigent of marina opponents SKP Inc describes the project as "an offensive, elitist edifice". Mair did an engineering degree in Auckland in the early 1970s, then worked for the once-great Wilkins & Davies. 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. We can see that Mainfreight does have institutional investors; and they hold a good portion of the company's stock. . Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. 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." If you would like to customise your choices, click 'Manage privacy settings'. Mainfreight chair and NBR Lister Bruce Plested has sold $75 million in Mainfreight shares to buy more property in Waiheke. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. Mainfreight dynamo used humour as a catalyst in business and - Stuff You may withdraw your consent at any time. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. Mainfreight Limited was founded in 1978 by chairman Bruce Plested. Tansy Austin - Health and Safety - Mainfreight | LinkedIn The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. The government vs Mainfreight | The New Zealand Initiative Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability . 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. 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. 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. Synlait Milk, which supplies a2 Milk, was down 9c or 2.5 per cent to $3.51. We will remind you three times before charging you. The firm offers managed warehousing and international and domestic freight forwarding services. Plested is also a great reader; some of those ideas come from books. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. Bruce George Plested founded Mainfreight Ltd. They put it up for sale in 2012 with an asking price of. [4] This operation was expanded with depots in Melbourne and Brisbane. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. Mair is the youngest of three. 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. See more CEO With well-established locations that include China, Hong Kong, Taiwan, Malaysia, Thailand, Vietnam, Singapore, Japan and Korea, the Mainfreight global network continues to expand year over year. [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. 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.). It now sits at 79.3.ANZs chief economist Sharon Zollner said households were concerned about the rising cost of living, particularly those with large ANZs economists now expects house prices to fall 18% from the November 2021 peak and bottom out in June.It previously signalled they would fall 22% but noted housing market data has been stronger than expected. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. It is very interesting to see that insiders have a meaningful NZ$1.4b stake in this NZ$6.8b business. In 2006 the New Zealand Mainfreight International and Owens International businesses were also merged to make Mainfreight Owens International Ltd (now Mainfreight International). report on analyst forecasts for the company. He is a long-term bull on the stock and I have no issue whatsoever with his move.". Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Copyright 2023 IDG Communications, Inc. Ideas. The Founding Owner & Executive Chairman of Mainfreight Limited (NZSE 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. That while in theory its possible to scale up and down when using public cloud, in reality the latter almost never happens. We have to make decisions based on five or ten years, which means often well pay for more now, before we need it, but knowing that we will need it, he says. Founded 2,000 years ago, Lyon's streets are a living museum, with beautiful historical buildings and interesting art galleries and museums. In the Lyon and Grenoble metropolitan areas, and the Haute-Savoie department, INRAE units contribute to research activities at the Lyon-Saint-Etienne, Grenoble-Alpes, and Savoie Mont Blanc . From our data, we infer that the largest shareholder is Bruce Plested (who also holds the title of Top Key Executive . 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. "My involvement in these marina projects resulted in the sale of over 6000 marina berths.". 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.". What Kind Of Shareholders Hold The Majority In Mainfreight Limited's This article by Simply Wall St is general in nature. At each branch the profit and loss figures are put up on the cafeteria wall. The Last 12 Months Of Insider Transactions At Mainfreight Notably, that recent purchase by Founding Owner & Executive Chairman Bruce Plested was not the only time they bought Mainfreight. Drinkwater says that in all the companies Mainfreight has acquired, the computer systems were inadequate. So SKP went to the High Court asking for permission for a rehearing in the Environment Court on the basis of having new evidence. Putiki Bay at Kennedy Point is, he says, ideal because it's deep compared to other nearby bays, "2.5m to 5.5m". They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. "There'll be no dredging or reclamation and no interference with the tidal zone.". 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. The latter is a charity that hands out free books to students in low-decile primary schools in the belief that children in households with books achieve better educational outcomes. We aim to bring you long-term focused analysis driven by fundamental data. 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. 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]. Brad Greer - National Business Development Manager - Mainfreight - LinkedIn You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. That means that even when the share price was higher. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. 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. Plested says some households ended up with 60 books on their shelves. The company is led by founder Bruce Plested and managing director Don Braid. 1. Those iwi members are also vowing to stop the scheme, citing the kaupapa of the moana. Daniel Plested - National Sales Manager - Mainfreight | LinkedIn Braid says instead of these there's a lot of "picking up the phone and talking". Mainfreight is a global supply chain company that prides itself for having "special people, special company" . Last period it bought $2.88m worth of them. He is most proud of his professional qualifications. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! Mainfreight Ltd. provides transportation and logistics solutions. It's the answer to poverty," says Mainfreight co-founder Bruce Plested. In 2001, Mainfreight's management decided that technology needed a global role, and Drinkwater became CIO. The wharf is expected to cost between $173m-$190m. Mainfreight Limited is a listedNew Zealand logistics and transport company headquartered in Auckland. This suggests some credibility amongst professional investors. But to understand Mainfreight better, we need to consider many other factors. Reminder, this is a Premium article and requires a subscription to read. When an insider holds a sizeable amount of a company's stock,. Empowerment can be rewarding in other ways. So it went to the Court of Appeal, which also said no. INRAE center Lyon-Grenoble Auvergne-Rhne-Alpes Asia, and the United States. Local firm Heron Construction has the manufacturing rights for that system here and Mair has been to Sweden to meet the firm's chiefs. 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. 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. Profile. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. Working with Ngti Poa Iwi Trust Board and others in the community are aspects he takes pride in. Market close: Mainfreight chairman Bruce Plested sells $75 million Reporting is done weekly. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Boats will discharge into facilities at the bay end of the marina. 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. Its his view that many CIOs fall into the cloud sprawl trap. madness, quite extreme. People from the outside that take your watch and tell you how to read the time. While institutions invested in Mainfreight Limited (NZSE:MFT) benefited Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Kitt Littlejohn, an independent director of the marina business, says construction began in March because a valid resource consent existed. Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. He is also on the board of Rorohara No 2 Trust. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. The government must focus on supporting exporters to innovate. The index's intraday high was 12,587.68 points. 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 business may have a requirement, but its our job is to make it even better than what they thought they wanted. I do want to say that there is no way wed ever go build our own email. The Centre is part of a particularly dynamic ecosystem, within the second French . The lender said it's engaged with the board on "plans for remediation". Swallows and Amazons, Arthur Ransomes perennial tale of a summer camping and sailing in the English Lake District, is one book he fondly remembers. It also has investments in Z Energy and a portfolio run by Fisher Funds. Click on [Agree] or [Disagree] to accept or refuse cookies. At Mainfreight we all eat at one big long table.". I'm a life member of IPENZ (the Institute of Professional Engineers)," he says, referring to the old name of the now-rebranded professional body Engineering New Zealand. In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. "I just give SKP money so it's more of an even fight. 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. It's always worth thinking about the different groups who own shares in a company. Mainfreight Leadership: Executives and Demographics NZ companies are well below the global aspirational target for charitable giving. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. 14 July, 2017. Mainfreight has 9,240 employees, of which 8 are in a leadership position. 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). Mainfreight - Wikipedia He has also personally funded marinas at Tutukaka, pua and rkei. People are given free rein and that means sometimes they make mistakes. It's no use just giving people more money.. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Please contact your card provider or customer support. Bruce is also someone I admire. He earlier studied science at the Victoria University of Wellington. 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. He is also fast-moving. 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 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. One broker, who didn't want to be named, said Plested no doubt sold the shares to buy an asset. Its a way of saying things that couldnt be said elsewhere, Plested said. In the meantime, opponent SKP hopes to go to court this month. You can click here to see if those insiders have been buying or selling. Based on our data team's research, Ben Fitts is the Mainfreight's CEO. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. A look at the shareholders of Mainfreight Limited (NZSE:MFT) can tell us which group is most powerful. Ready Fire Aim: The Mainfreight Story - Penguin The Mainfreight culture is also focussed on the long term, and the business has a 100-year vision. The Mairs enjoyed sailing and fishing. mainfreight 250bruce plested1978 Tilt's share price edged ahead 2c to $8.02. 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]. "It's disappointing because it's my last one," Mair says of the Waiheke project. [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.
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