Drinkwater says that in all the companies Mainfreight has acquired, the computer systems were inadequate. "When Mainfreight was starting out, people had to work late on Thursday nights loading sea freighters. Stay informed on business, government and financial developments across New Zealand from our team of 27 journalists. Or use the information youve already given Google to create your subscription. If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. 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. Mainfreight was founded on 6 March 1978 by Bruce Plested who started the company with just $7,200 and a 1969 Bedford truck. Today he chairs a group of telecommunication companies. Mainfreight dynamo used humour as a catalyst in business and - Stuff Institutional investors commonly compare their own returns to the returns of a commonly followed index. But Plested also devours books that look askance at the global economic system. Tansy Austin - Health and Safety - Mainfreight | LinkedIn 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 shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. Clearly the two are well matched. After the 1987 sharemarket crash and the firm's end, Mair founded a construction company and built the wharf in the Chatham Islands, and got the contract to repair thousands of metres of wharves in Auckland and Onehunga, including at the naval base. Name & Title Bio. During that time the business has expanded its operation into 26 countries and its staff count has grown from 80 to 8,600. In addition to the all-hands Board meetings, the Board will have a number of . The lender said it's engaged with the board on "plans for remediation". In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Mainfreight - Alchetron, The Free Social Encyclopedia New Engineer jobs added daily. 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. The government vs Mainfreight. 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 founder Bruce Plested is on the cusp of joining New Zealand's tiny list of billionaires as the global logistics empire he built soars to new heights. . "Each person has responsibility for what they do. Generally. It's always worth thinking about the different groups who own shares in a company. The company was founded by Bruce G. Plested in 1978 and is headquartered in Auckland, New Zealand. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. He imagines he follows the rules but still gets "hauled off to a concentration camp". The other thing is to have our own ideas. Plested and Braid are based at unfashionable Otahuhu in South Auckland. [13] The transaction was completed on 6 June 2007. The firm offers managed warehousing and international and domestic freight forwarding services. Mainfreight is hosting a BBQ for customers, family and friends on September 22nd! Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. 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. Greg Hurrell left a journalism career to work around the Middle East for 23 years and returned to New Zealand full-time in 2020. subscription needed. 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. He has also personally funded marinas at Tutukaka, pua and rkei. Copyright 2023 IDG Communications, Inc. [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. enter your email and well send you details, Mainfreight's Bruce Plested's love of books has benefited charity. 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. He is also on the board of Rorohara No 2 Trust. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. Lyon is France's third-largest city and a major tourist destination. Plested's. 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. MAINFREIGHT Careers and Employment | Indeed.com Take IDCs ERP Modernization Maturity Assessment to benchmark your organizations progress against your peers. 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.. Bryan has a wealth of experience, both in executive and board roles. In May, the. The index's intraday high was 12,587.68 points. MAINFREIGHT LIMITED Company Profile - Dun & Bradstreet The company was founded in New Zealand in 1978 and used a series of acquisitions to fuel an international growth strategy. Bruce Plested, founder of Mainfreight, said his business partner of 36 years was "the humourist and salesman without peer". That barge was tagged by protesters "we don't want u!!". Mainfreight Leadership: Executives and Demographics Arriving fresh faced from university, this company for the past (almost) three years has. 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. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. 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). What Kind Of Shareholders Hold The Majority In Mainfreight Limited's He said it. The list of best things to do in Auvergne-Rhne-Alpes includes sightseeing, pretty towns, history, and natural wonders! Spy: Stunning seaside wedding - Entertainment News - NZ Herald Brad Greer - National Business Development Manager - Mainfreight - LinkedIn They put it up for sale in 2012 with an asking price of. Change to Next-generation, cloud-based ERP systems yield new levels of strategic agility and business insights. While institutions invested in Mainfreight Limited (NZSE:MFT) benefited The trust now has a 14.83 per cent shareholding in Mainfreight, down from 16.29 per cent. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. madness, quite extreme. To help pay the bills on time, Plested gave the charity a $500,000 interest-free loan in 2020. Executive Summary. Drinkwater has contributed to the local CIO community and has regularly featured in the CIO50 New Zealand Awards in 2019 he was No. Swallows and Amazons, Arthur Ransomes perennial tale of a summer camping and sailing in the English Lake District, is one book he fondly remembers. 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. Will Mainfreight's Bruce Plested be NZ's next billionaire? click here to see if those insiders have been buying or selling. This size of ownership gives retail investors collective power. In 1979, he was asked to build a new marina at Westharbour (now called Hobsonville Marina). (Image: Supplied). ", Selwyn says Plested has personal qualities that make this management style work. The philanthropist was recognised at the New Zealander of the Year awards. 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. Plested is within a hair's breadth of becoming a billionaire - on paper at least - from his Mainfreight stake alone when the shares hit an all-time high $60.10 yesterday, valuing the 16.2 million shares he directly owns or oversees as a trustee at $974.7 million.The shares were trading this morning at $59.30 for a valuation of $960.55 million for Plested's stake.Feted We had trouble validating your card. 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 . So it went to the Court of Appeal, which also said no. 25+ search types; Win/Lin/Mac SDK; hundreds of reviews; full evaluations. 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. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. Market close: Mainfreight chairman Bruce Plested sells $75 million Some small berths in the centre and other longer berths further out into the bay are unsold. 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. From there, providing you have passion, the Mainfreight . Founder Bruce Plested and Group President Don Braid highlighted this exciting site at the annual general shareholders meeting! The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. Bruce Plested. {{ 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. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. Board meetings. Mainfreight is a pretty big company. 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. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Ngti Poa iwi members have also been camping at the site where Mair's business began development in early March. The cheapest berths went for $180,000. 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. Find out This was the lion's share of the charity's total expenditure of $4.08m. Bruce Plested - Biography - MarketScreener.com In one example, the company had spent $20 million on an accounting system and had 50 people in its finance team. 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. "It's about creating a feeling of whanau. Best Things to Do in Auvergne Rhne-Alpes, France 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. The project is downsized from the original plans. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Liked by Brad Greer. 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. Composition of NZX50 Boards nzmarketinsights But David Baigent of marina opponents SKP Inc describes the project as "an offensive, elitist edifice". Let's delve deeper into each type of owner, to discover more about Mainfreight. Reminder, this is a Premium article and requires a subscription to read. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. Check out our latest analysis for Mainfreight. INRAE center Lyon-Grenoble Auvergne-Rhne-Alpes 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. He was later joined by Neil Graham. Shares go up and down.". The marina will be open to the public during daylight hours, with access available to the main marina pier and caf. You can find historic revenue and earnings in this detailed graph. 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. 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. The relationship has been ongoing. Mainfreight Limited is a listedNew Zealand logistics and transport company headquartered in Auckland. You will be charged in 10 days unless you cancel beforehand. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). 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. "I've always been interested in education. On the plus side for Mainfreight shareholders, Bruce Plested has elected not to receive remuneration (i.e. -Warehouse BDM / ()_Warehouse BDM / () Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability . It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. Despite the protests, his view is the score is now 18 down, one to go. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. "There'll be no dredging or reclamation and no interference with the tidal zone.". Reminder, this is a Premium article and requires a subscription to read. Having clocked almost 35 years, his tenure at one of New Zealands most successful global companies has been a long one. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Synlait Milk, which supplies a2 Milk, was down 9c or 2.5 per cent to $3.51. Books are handed out at some 510 participating schools, often with a role model on hand. He is most proud of his professional qualifications. When an insider holds a sizeable amount of a company's stock,. NZ companies are well below the global aspirational target for charitable giving. A look at the shareholders of Mainfreight Limited (NZSE:MFT) can tell us which group is most powerful. She says Plested learned his management style growing up in blue collar Grey Lynn with Maori and Pacific neighbours. Understand how edge computing is transforming business performance, Exit interview: Mainfreight CIO shares tech insights before signing off, dtSearch - INSTANTLY SEARCH TERABYTES of files, emails, databases, web data. 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. Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/12 With the takeover of the Owens Group in 2003 they purchased Owens International Australia. SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. The charity acquired more shares since then and they were worth $5.68m in June 2020. In 2016, when Auckland Council granted consent, SKP appealed that to the Environment Court but was refused and the consent was upheld. MAINFREIGHT Careers and Employment | Indeed.com 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 the answer to poverty, says Mainfreight co-founder Bruce Plested. Richard has been elected a fellow of the Chartered Institute of Logistics and Transport. Of initial expressions of interest in berths, 68 per cent have indicated they are Waiheke ratepayers, Mair says. Dynamic Business: Visionary leader - Bruce Plested, Mainfreight The government vs Mainfreight | The New Zealand Initiative I generally like to see some degree of insider ownership, even if only a little. We were spellbound.. 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. Our data reflects individual insiders, capturing board members at the very least. 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. No matter what level you are at, people care for each other, and thats demonstrated in many ways. His intellect and pragmatic approach is highly regarded at the Board table. From our data, we infer that the largest shareholder is Bruce Plested (who also holds the title of Top Key Executive . 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. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. We aim to bring you long-term focused analysis driven by fundamental data. That while in theory its possible to scale up and down when using public cloud, in reality the latter almost never happens. For six years, he has fought to build an Auckland marina adjacent to SeaLink's vehicle ferry terminal and breakwater on Waiheke Island. Plested is a thinker. Jeremy Serrurier posted on LinkedIn Weve been very innovative to the business, he says. Exit interview: Mainfreight CIO shares tech insights before signing off Mainfreight Directors Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . 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. He has worked with author Alan Duff to put books in the homes of poorer children. 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. 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. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. See more CEO Every year, Mainfreight funds a calendar. So SKP went to the High Court asking for permission for a rehearing in the Environment Court on the basis of having new evidence. The Top 200 Awards judges say he built a global transport company from nothing. Reporting is done weekly. "In more recent times I just read business books, which is quite naughty, he adds. It was a 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. Profile. Bruce is a one-off," Duff said. 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. 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. Plested is within a hair's breadth of becoming a billionaire - on paper at least - from his Mainfreight stake alone when the shares hit an all-time high $60.10 yesterday, valuing the 16.2 million shares he directly owns or oversees as a trustee at $974.7 million.The shares were trading this morning at $59.30 for a valuation of $960.55 million for The company was established in Auckland, New Zealand, in 1978 by our current Chairman, Bruce Plested. Luke Carran on LinkedIn: Per Angusta Ad Augusta. As for new sector-specific technologies, he says that driverless trucks are on their way but the technology isnt here yet. We will remind you three times before charging you. Mainfreight Limited (NZE: MFT) is a global transport and logistics business based in New Zealand.. How Cisco maintains a new sustainable startup model, producing the next generation of industry-leading technologies. Average Retirement Savings By Age: Are You Normal? 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. In the process, Bruce Plested has become one of New Zealand's latest billionaires. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/04 Its a way of saying things that couldnt be said elsewhere, Plested said. Mainfreight Limited was founded in 1978 by chairman Bruce Plested. There's no Mainfreight head office or military style hierarchy. Click on [Agree] or [Disagree] to accept or refuse cookies. The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. However, high insider ownership can also give immense power to a small group within the company. She says: "He can talk to people, of course the secret to doing that is being a good listener.". Photo / NZME. Subscribe to our free 7am Headlines newsletter. The Founding Owner & Executive Chairman of Mainfreight Limited (NZSE Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. "I just give SKP money so it's more of an even fight. Mainfreight chairman Bruce Plested sold 1 million shares worth $75 million. He is also fast-moving. Concerned about the content? It's no use just giving people more money.. It's the answer to poverty," says Mainfreight co-founder Bruce Plested. Meal kit company My Food Bag rose 6c or 4.26 per cent to $1.47 after telling the market it will be using social enterprise firm GoGo's carbon footprint tracker app. [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.
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