All subscriptions auto renew but are easy to cancel. 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. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. 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. 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. The index's intraday high was 12,587.68 points. Here, he shares the lessons of his career with CIOs everywhere. 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. 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. Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. Last period it bought $2.88m worth of them. The company is led by founder Bruce Plested and managing director Don Braid. Exit interview: Mainfreight CIO shares tech insights before signing off The High Court said no. It has been listed on the New Zealand Exchange since 1996. Appointment to Board 1978 - With Mainfreight since 1978. Tilt's share price edged ahead 2c to $8.02. Thats why there are so many packages out there, because consultants find it easy to sell packages. The company management answer to the board and the latter should represent the interests of shareholders. They had a total of 1,540,506 employees among them. No matter what level you are at, people care for each other, and thats demonstrated in many ways. Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. Under the visionary eye of founder and chairperson Bruce Plested, they say, the company's performance has demonstrated "total consistency, total focus". It is very interesting to see that insiders have a meaningful NZ$1.4b stake in this NZ$6.8b business. Show more. The lender said it's engaged with the board on "plans for remediation". "Completion of the whole project will be at the end of next year," Mair said. The six-bedroom, seven-bathroom waterfront plantation with its own winery is owned by businessman David Parkinson and wife Deidre Crawford. All berths beside the wharf, closest to the land, are pre-sold. Reminder, this is a Premium article and requires a subscription to read. [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. Its a way of saying things that couldnt be said elsewhere, Plested said. I generally like to see some degree of insider ownership, even if only a little. Books are important to him. He has a home on Waiheke and said the marina was not in the locals' interests. Mair estimates a quarter of berths are for sailboats, the rest for motorboats. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. Mainfreight founder and chairman Bruce Plested. . Mainfreight, formed in 1978, has 240 branches. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? This risk is higher in a company without a history of growth. A good Samaritan. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. "Each person has responsibility for what they do. Mainfreight Limited (NZSE:MFT) insiders placed bullish bets worth NZ$3 Ready Fire Aim: The Mainfreight Story - Penguin Richard Prebble is by profession a lawyer. Click on [Agree] or [Disagree] to accept or refuse cookies. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. Clearly the two are well matched. 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. 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. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. Third year in a row Milford has been awarded the Consumer People's Choice for KiwiSaver by Consumer NZ. During the first lockdown in March 2020 when COVID-19 was set to rage across New Zealand and mass unemployment was expected if the economy crashed, he wondered if it was time to give someone else a go at Mainfreight. He is a long-term bull on the stock and I have no issue whatsoever with his move.". A "living wage" is paid, Plested has contributed to the Maori Party, and Mainfreight also sponsors a school in Otara. 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. Mainfreight is a pretty big company. "I went crook at Alan. 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. Bruce George Plested founded Mainfreight Ltd. 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. "Five-figure sums," Baigent said last year. To get the disclaimer out of the way, Mainfreight's founder and chair Bruce Plested is not only a member of the Initiative. Today he chairs a group of telecommunication companies. 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.". Top 10 UPS Competitors in 2023 Mainfreight has 9,240 employees, of which 8 are in a leadership position. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. Name & Title Bio. 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. The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. Books are handed out at some 510 participating schools, often with a role model on hand. She says Plested learned his management style growing up in blue collar Grey Lynn with Maori and Pacific neighbours. 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. Precinct Properties reported a full-year revaluation gain of $284m including the $148.5m increase recognised at the end of December. As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. Braid says Plested's vision is for the future. His intellect and pragmatic approach is highly regarded at the Board table. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. 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. The Mainfreight culture is also focussed on the long term, and the business has a 100-year vision. [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. 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. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. 1. His career has seen him develop or be closely involved with 18 marinas including pua in the Bay of Islands, rkei, Whangamata, Bayswater, Whangaparaoa's Gulf Harbour, Bucklands Beach, Westharbour, Pine Harbour, Tutukaka, Whitianga, Wellington's Mana Marina, Shute Harbour in the Whitsundays, Townsville and Abell Point in Queensland, Fiji's Musket Cove, at Canada's Songees and Santosa Island and at Singapore's Sentosa. 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. Alternatively, email editorial-team (at) simplywallst.com. He is most proud of his professional qualifications. He is also on the board of Rorohara No 2 Trust. So they generally do consider buying larger companies that are included in the relevant benchmark index. The government vs Mainfreight | The New Zealand Initiative [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. Paul Ford on Auckland cricket | ESPNcricinfo Plested is also a great reader; some of those ideas come from books. 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. MFT Stock Price and Chart NZX:MFT TradingView 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 4 reasons to get excited about Mainfreight (NZE: MFT) shares He built a billion-dollar logistics business, starting with a single Bedford truck in the 1970s. Bruce believes people grow when they are given this responsibility. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. The charity acquired more shares since then and they were worth $5.68m in June 2020. Mainfreight Australia Graduate Programs | GradAustralia Mainfreight chairman Bruce Plested sold 1 million shares worth $75 million. MAINFREIGHT LIMITED Company Profile - Dun & Bradstreet He recalls the money was for spending, not investing. Online (PDF) Ready Fire Aim The Mainfreight Story Download | The Pranitas 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. ", Selwyn says Plested has personal qualities that make this management style work. The firm offers managed warehousing and international and domestic freight forwarding services. Northport is forecasting a 15 per cent lift in container traffic volume for the financial year ending June. 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. Bruce Plested - Biography - MarketScreener.com INRAE center Lyon-Grenoble Auvergne-Rhne-Alpes It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. Aligned with shareholders. This morning in assembly, we had the privilege of having two distinguished Old Boys do a panel - Peter Thompson '76, Managing Director of Barfoot & Thompson, and Bruce Plested '55, Executive . madness, quite extreme. Fri, 13 May 2022 "I've always been interested in education. Brad Greer - National Business Development Manager - Mainfreight - LinkedIn In 2001, Mainfreights management decided that technology needed a global role, and Drinkwater became CIO. Notably, sometimes top-level managers are on the board themselves. 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. 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.