Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. Last year the business had revenue of NZ$1.9 billion and expects to reach $2 billion this year. report on analyst forecasts for the company. 14 July, 2017. Weve probably trebled in size since then, yet were still using the same footprint. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). He sets high standards for himself and has created a family atmosphere where people want to prove their worth to him. This may not be consistent with full year annual report figures. "We changed from a u-shape to a central pine walkway 3.3m wide by 150m long.". [9], Within its announcement, the Mainfreight sad, "Wim Bosman is a well respected, profitable organisation which will provide Mainfreight with a significant European presence and opportunity to further grow its supply chain logistic services throughout the world. Plested runs the business as a series of semi-autonomous branches -- that way each employee can feel they are part of a close-knit team. With 5.1% and 4.6% of the shares outstanding respectively, Fisher Funds Management Limited and Harbour Asset Management Limited are the second and third largest shareholders. In the meantime, opponent SKP hopes to go to court this month. 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. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. Precinct Properties reported a full-year revaluation gain of $284m including the $148.5m increase recognised at the end of December. "Five-figure sums," Baigent said last year. 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. 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. Boats will discharge into facilities at the bay end of the marina. "It's a disgrace, a kind of Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. 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. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. "I just give SKP money so it's more of an even fight. The other thing is to have our own ideas. When such a trade goes wrong, multiple parties may compete to sell stock fast. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Its the end of the road at Mainfreight for CIO Kevin Drinkwater, who officially retires on 31 December 2020. Get started by entering your email address below. Mair is the youngest of three. He said it. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. click here to see if those insiders have been buying or selling. The six-bedroom, seven-bathroom waterfront plantation with its own winery is owned by businessman David Parkinson and wife Deidre Crawford. Other Current Directorships: 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. Having clocked almost 35 years, his tenure at one of New Zealands most successful global companies has been a long one. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. He has a home on Waiheke and said the marina was not in the locals' interests. It's possible your card provider is preventing us from charging the card. 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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 project was sold by South British Insurance to Wilkins & Davies. 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. The Mairs enjoyed sailing and fishing. It has a market capitalization of NZ$6.8b. 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. 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. The firm offers managed warehousing and international and domestic freight forwarding services. 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. 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. He was later joined by Neil Graham. The government must focus on supporting exporters to innovate. Braid says the company offers staff training in every country it operates in. The Top 200 Awards judges say he built a global transport company from nothing. Plested gave the charity $250,000 in 1998, which Duff used to buy shares in the company. In his 35-year career, Kevin Drinkwater has seen tremendous change and many fads. Appointment to Board 1978 - With Mainfreight since 1978. "There'll be no dredging or reclamation and no interference with the tidal zone.". What sort of money? Essentially the company helps firms move and store goods from A to B via land, air and sea. 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. The government vs Mainfreight. 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. Please note that with cookies disabled you will have a degraded experience with some features. The pair see books and reading as a way to get people out of the poverty trap. Waiheke Island marina re-hearing denied, Kennedy Point project to proceed - NZ Herald, Kennedy Point marina construction starting, berths sold from $180k each - NZ Herald, Opponents lose Appeal Court attempt against Waiheke's first commercial marina - NZ Herald. He imagines he follows the rules but still gets "hauled off to a concentration camp". Bairds Mainfreight Primary School belongs to the Mainfreight family and is incredibly proud of this very special relationship. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). He is also fast-moving. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. Mainfreight Ltd. engages in the freight logistics services and supply chain solutions. Plested's employees will certainly agree with that assessment. Notably, sometimes top-level managers are on the board themselves. All berths beside the wharf, closest to the land, are pre-sold. 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. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. Let's delve deeper into each type of owner, to discover more about Mainfreight. "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. Small company shows how the power of digital can transform lives. This risk is higher in a company without a history of growth. Bruce would make sure there was a roast dinner laid on for everyone who helped.". Today he chairs a group of telecommunication companies. Mair is using Swedish technology from a floating marine business in Gothenburg. We can see that Mainfreight does have institutional investors; and they hold a good portion of the company's stock. 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. The list of best things to do in Auvergne-Rhne-Alpes includes sightseeing, pretty towns, history, and natural wonders! You may withdraw your consent at any time. We aim to bring you long-term focused analysis driven by fundamental data. To get the disclaimer out of the way, Mainfreight's founder and chair Bruce Plested is not only a member of the Initiative. It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. That will be a jack-up barge with a drilling rig, able to work on the 26 reinforced concrete piles for the new wharf. The company was founded by Bruce G. Plested in 1978 and is headquartered in Auckland, New Zealand. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. Plested is also a great reader; some of those ideas come from books. Based on our data team's research, Ben Fitts is the Mainfreight's CEO. Small company shows how the power of digital can transform lives. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. 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. [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. One broker, who didn't want to be named, said Plested no doubt sold the shares to buy an asset. Mainfreight Americas 21,433 followers 7mo Hey there Dallas, TX! 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. 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]. However, high insider ownership can also give immense power to a small group within the company. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. The Centre is part of a particularly dynamic ecosystem, within the second French . You can cancel anytime with two clicks, an email or a phone call. You wont get many consultants that tell you to build a bespoke system.. 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 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. Plested's. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. The charity acquired more shares since then and they were worth $5.68m in June 2020. Plested says some households ended up with 60 books on their shelves. Our information suggests that insiders maintain a significant holding in Mainfreight Limited. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. He has also personally funded marinas at Tutukaka, pua and rkei. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. Those iwi members are also vowing to stop the scheme, citing the kaupapa of the moana. Many of us here believe in the same principles, we're here for the long term. Empowerment can be rewarding in other ways. Stay informed on business, government and financial developments across New Zealand from our team of 27 journalists. 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. Together we believe that for our tamariki "Anything is Possible.". The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. madness, quite extreme. 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. Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. 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 -. 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. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. This can be negative in some circumstances. We, Yahoo, are part of the Yahoo family of brands. Weve been very innovative to the business, he says. Mainfreight listed on the NZX in 1996 Mainfreight was founded on March 23, 1978 by Bruce Ples Property market metrics show the national average asking price is now almost $100,000 down on a year ago. It's all part of the firms celebrated Mainfreight way. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Mair did an engineering degree in Auckland in the early 1970s, then worked for the once-great Wilkins & Davies. Check out our latest analysis for Mainfreight. "Completion of the whole project will be at the end of next year," Mair said. The trust now has a 14.83 per cent shareholding in Mainfreight, down from 16.29 per cent. Mainfreight CEO and Executives. 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. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. If youre in the kitchen or the branch manager, you get the same amount of dollars based on your branchs performance, Drinkwater says. Drinkwater says the team are prescriptive about the software they deploy, and they often opt for bespoke solutions that are specific to Mainfreights business. [13] The transaction was completed on 6 June 2007. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. 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. In 2007, Mainfreight acquired Target Logistics, a United States based forwarder with 34 offices, and an extensive agent network. She says Plested learned his management style growing up in blue collar Grey Lynn with Maori and Pacific neighbours. This was the lion's share of the charity's total expenditure of $4.08m. Change to Next-generation, cloud-based ERP systems yield new levels of strategic agility and business insights. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. 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. 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Bruce George Plested founded Mainfreight Ltd. In one example, the company had spent $20 million on an accounting system and had 50 people in its finance team. [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. 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 . Plans to develop Waiheke Island's first marina are opposed by Mori as well as rich-lister Bruce Plested, chairman and founder of Mainfreight with a $6.8 billion market capitalisation. Mainfreight chair and NBR Lister Bruce Plested has sold $75 million in Mainfreight shares to buy more property in Waiheke. The certification is based. He is a long-term bull on the stock and I have no issue whatsoever with his move.". Napier Port held an institutional investor day and rose 14.8c or 4.52 per cent to $3.42. Mainfreight has 9,240 employees, of which 8 are in a leadership position. Plested is a thinker. Synlait Milk, which supplies a2 Milk, was down 9c or 2.5 per cent to $3.51. "I've always been interested in education. This size of ownership gives retail investors collective power. SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. 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 . 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. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. The company was established in Auckland, New Zealand, in 1978 by our current Chairman, Bruce Plested. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. It now has 22 company depots in Australia and relies on agents and third parties in the Northern Territory, Tasmania and some of regional Australia. He was also involved in maritime projects in Singapore, Malaysia and Borneo followed. 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. (Image: Supplied). Arriving fresh faced from university, this company for the past (almost) three years has. He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! subscription needed. Greg Hurrell left a journalism career to work around the Middle East for 23 years and returned to New Zealand full-time in 2020. This suggests some credibility amongst professional investors. Mainfreight is hosting a BBQ for customers, family and friends on September 22nd! 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. The marina will be open to the public during daylight hours, with access available to the main marina pier and caf. Some small berths in the centre and other longer berths further out into the bay are unsold. It's a tough venue to weave into . The Mainfreight instruction manual is short: Feel the fear but do it anyway. He says Plested's motivation mixes incentives with responsibility. Third year in a row Milford has been awarded the Consumer People's Choice for KiwiSaver by Consumer NZ. 2 Trust. Visit Lyon. His intellect and pragmatic approach is highly regarded at the Board table. Mainfreight Limited is a listedNew Zealand logistics and transport company headquartered in Auckland. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. 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. enter your email and well send you details. The Board of Directors typically meet once a month for Board meetings. 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. To help pay the bills on time, Plested gave the charity a $500,000 interest-free loan in 2020. The Mainfreight culture is also focussed on the long term, and the business has a 100-year vision. For more information, please visit our cookie statement. Subscribe to our free 7am Headlines newsletter. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability . In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Mainfreight chairman Bruce Plested sold 1 million shares worth $75 million. That barge was tagged by protesters "we don't want u!!". Get in touch with us directly. 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. The road to the marina will be widened, improved in a strip around 200m long. As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. Books are important to him. 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).