This may not be consistent with full year annual report figures. That single transaction was for NZ$3.5m worth of shares at a price of NZ$69.49 each . As for new sector-specific technologies, he says that driverless trucks are on their way but the technology isnt here yet. Tansy Austin - Health and Safety - Mainfreight | LinkedIn What sort of money? Drinkwater says the team are prescriptive about the software they deploy, and they often opt for bespoke solutions that are specific to Mainfreights business. They had a total of 1,540,506 employees among them. He is also on the board of Rorohara No 2 Trust. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability, continue to positively shape the Companys behaviours. Plested says some households ended up with 60 books on their shelves. Jeremy Serrurier posted on LinkedIn Take IDCs ERP Modernization Maturity Assessment to benchmark your organizations progress against your peers. Aquick summary of everything BusinessDesk has published in the previous 24 hours. Bruce George Plested founded Mainfreight Ltd. One broker, who didn't want to be named, said Plested no doubt sold the shares to buy an asset. Bruce Plested - Biography - MarketScreener.com SUPPLIED Bruce Plested - founder of Mainfreight - has fired a salvo about social issues facing New Zealand ahead of national elections. The six-bedroom, seven-bathroom waterfront plantation with its own winery is owned by businessman David Parkinson and wife Deidre Crawford. INRAE center Clermont-Auvergne-Rhne-Alpes He was later joined by Neil Graham. "There'll be no dredging or reclamation and no interference with the tidal zone.". 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. Reporting directly to the CEOfirst to founder Bruce Plested, and then to Don. Subscribe to our free 7am Headlines newsletter. This is a world where budgets are deemed 'bullshit'. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. While institutions invested in Mainfreight Limited (NZSE:MFT) benefited The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. Lyon is France's third-largest city and a major tourist destination. 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. Founded by Bruce Plested who started the company with just NZD$7000.00 and a 1969 Bedford Truck. Braid says: "There a capitalist motive behind this, Bruce believes profit is a great motivator.". Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! To get the disclaimer out of the way, Mainfreight's founder and chair Bruce Plested is not only a member of the Initiative. 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. He is also fast-moving. Alternatively, email editorial-team (at) simplywallst.com. To join your company account for BusinessDesk and enjoy full access, Insights Newsletter. That means that even when the share price was higher. 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.". When the company was founded it entered a highly regulated transport market. 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 All berths beside the wharf, closest to the land, are pre-sold. In 2001, Mainfreights management decided that technology needed a global role, and Drinkwater became CIO. This can be incompatible with technology, which is constantly changing. Liked by Brad Greer. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. In November 2014, Mainfreight acquired a regional air and sea freight company located in Dunedin. Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. From there, providing you have passion, the Mainfreight . Mainfreight - Wikipedia Having clocked almost 35 years, his tenure at one of New Zealands most successful global companies has been a long one. 1. We wont charge for 10 days. The gift cost more than $4 million of his own money. Mainfreight is a pretty big company. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. [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. 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 -. Plested and Braid are based at unfashionable Otahuhu in South Auckland. Mainfreight listed on the NZX in 1996 Mainfreight was founded on March 23, 1978 by Bruce Ples Mainfreight Limited is a New Zealand logistics and transport company headquartered in Auckland. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. 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. Stay informed on business, government and financial developments across New Zealand from our team of 27 journalists. Mainfreight boss asks should profit sharing with staff be essential This suggests some credibility amongst professional investors. But to understand Mainfreight better, we need to consider many other factors. The lender said it's engaged with the board on "plans for remediation". Get in touch with us directly. INRAE center Lyon-Grenoble Auvergne-Rhne-Alpes Ready Fire Aim: The Mainfreight Story - Penguin Greg Hurrell left a journalism career to work around the Middle East for 23 years and returned to New Zealand full-time in 2020. To celebrate his 70th birthday Plested gave $1000 to everyone who had worked for Mainfreight for a year or more. Selwyn has worked with Plested for 41 years, since before he started Mainfreight. 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. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. The Top 200 Awards judges say he built a global transport company from nothing and has done many wonderful things along the way. You can find historic revenue and earnings in this detailed graph. The Mainfreight instruction manual is short: Feel the fear but do it anyway. So SKP went to the High Court asking for permission for a rehearing in the Environment Court on the basis of having new evidence. Board meetings. Braid says the company offers staff training in every country it operates in. 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. Photo / NZME. The charitys aim is to promote a love of reading in children, with a focus on lower-income families. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. 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. He was later joined by Neil Graham. Facilities for the wider boating community were, he said, a big plus on Waiheke. Last year, CoGo partnered with Westpac to promote its carbon tracker to the bank's customers. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! Mainfreight - Bairds Mainfreight Primary School If you do not want us and our partners to use cookies and personal data for these additional purposes, click 'Reject all'. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. 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 access this free report on analyst forecasts for the company. Luke Carran on LinkedIn: Per Angusta Ad Augusta. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. "Each person has responsibility for what they do. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Best Things to Do in Auvergne Rhne-Alpes, France transactions overall, the S&P/NZX 50 Index drifted, closing on its low for the day at 12,518.01, down 48.49 points or 0.39 per cent. But Plested also devours books that look askance at the global economic system. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. There are no company memos and as little email as they can get away with. Braid says Plested's vision is for the future. The latest ANZ-Roy Morgan Consumer Confidence Index has lifted one point in April, but still remains "at an extremely low level". The other thing is to have our own ideas. 4 reasons to get excited about Mainfreight (NZE: MFT) shares It features a cartoon character Duffy at the bottom, with a monthly saying, such as Have you read to your children today?. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. Bruce Plested. "It's no use just giving people more money." Plested's early home life was a book-filled one, and his mother would always read to her two sons. 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. In looking back at his career, Drinkwater tells CIO New Zealand there are two ways for CIOs to measure their success: One is whether the solutions they deploy are better than people expected, and the other is whether the business keeps wanting to spend money on technology. "Some of it comes from within, some comes from experience, knowing what works and what doesn't. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Visit Lyon. Let's delve deeper into each type of owner, to discover more about Mainfreight. Port of Tauranga was up 4c to $7.30, and Marsden was down 3c to $6.02. And Drinkwater says that COVID-19 has changed the nature of work irrevocably by showing that working from homeor from anywhereis achievable at scale. . But David Baigent of marina opponents SKP Inc describes the project as "an offensive, elitist edifice". The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. That while in theory its possible to scale up and down when using public cloud, in reality the latter almost never happens. Its a way of saying things that couldnt be said elsewhere, Plested said. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. Notably, sometimes top-level managers are on the board themselves. Braid says over the years the chairman has designed a philosophy to run the company. Daniel Plested - National Sales Manager - Mainfreight | LinkedIn There's more to the man's generosity than this example. At the time Plested said he just wanted to say thank you to the people who had given him so much. Few other business leaders think in terms of a 100 years or so. The government vs Mainfreight | The New Zealand Initiative The firm offers managed warehousing and international and domestic freight forwarding services. Precinct's portfolio will be valued at $3.3 billion at the end of June. It's all part of the firms celebrated Mainfreight way. enter your email and well send you details, Mainfreight's Bruce Plested's love of books has benefited charity. Ryman Healthcare increased 28c or 2.17 per cent to $13.18; Turners Automotive picked up 14c or 3.33 per cent to $4.34; Evolve Education recovered 3c or 3.49 per cent to 89c; NZX was up 5c or 2.44 per cent to $2.10; and NZME gained 2c or 2.74 per cent to 75c. Send your RSVP to . 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. Mainfreight founder and chairman Bruce Plested. Here, he shares the lessons of his career with CIOs everywhere. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. Fri, 13 May 2022 "I've always been interested in education. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Northport is forecasting a 15 per cent lift in container traffic volume for the financial year ending June. SKP has challenged the marina in the Environment Court, High Court, Court of Appeal and is now headed to the Supreme Court. MFT Stock Price and Chart NZX:MFT TradingView 343 Engineer jobs in Grenoble, Auvergne-Rhne-Alpes, France (5 new) Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. 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. Last year the business had revenue of NZ$1.9 billion and expects to reach $2 billion this year. 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. No BusinessDesk Last period it bought $2.88m worth of them. Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. 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. 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. This past Friday marked my final day with Mainfreight. Composition of NZX50 Boards nzmarketinsights The company was established in Auckland, New Zealand, in 1978 by our current Chairman, Bruce Plested. "We changed from a u-shape to a central pine walkway 3.3m wide by 150m long.". You will be charged in 10 days unless you cancel beforehand. Dr Oliver Hartwich. Weve probably trebled in size since then, yet were still using the same footprint. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. Doesnt matter what your position is. 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. Or use the information youve already given Google to create your subscription. Liked by Brad Greer. Mainfreight Directors In addition to the all-hands Board meetings, the Board will have a number of . If youre in the kitchen or the branch manager, you get the same amount of dollars based on your branchs performance, Drinkwater says. The index's intraday high was 12,587.68 points. What Kind Of Shareholders Hold The Majority In Mainfreight Limited's The government must focus on supporting exporters to innovate. Target operate domestic and international time-sensitive freight-forwarding and logistics services through its wholly owned subsidiary, Target Logistic Services. Big giver: Mainfreight's Bruce Plested | BusinessDesk Our data reflects individual insiders, capturing board members at the very least. Books are important to him. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. When an insider holds a sizeable amount of a company's stock,. Now with over 8,000 employees and 282 branches in 26 countries, Mainfreight has an extensive presence in the global supply chain. Market close: Mainfreight chairman Bruce Plested sells $75 million Duffs confidence in Mainfreight has led to the charity taking a large stake in the company. MAINFREIGHT LIMITED Company Profile - Dun & Bradstreet It's always worth thinking about the different groups who own shares in a company. These must have served him well, given Mainfreights current NZX number six position on market capitalisation. 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. transactions overall, the S&P/NZX 50 Index drifted, closing on its low for the day at 12,518.01, down 48.49 points or 0.39 per cent. We note that hedge funds don't have a meaningful investment in Mainfreight. 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. Small company shows how the power of digital can transform lives. This was the lion's share of the charity's total expenditure of $4.08m. Today he chairs a group of telecommunication companies. See more CEO Boats will discharge into facilities at the bay end of the marina. He earlier studied science at the Victoria University of Wellington. You may withdraw your consent at any time. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. He is also on the board of Rorohara No 2 Trust. Plested got in touch with Duff after seeing the writer in a documentary, talking about the state of New Zealand. Ideas. 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 . It's a tough venue to weave into . The company is led by founder Bruce Plested and managing director Don Braid. The relationship has been ongoing. 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. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. It isnt only schools that lack technology know-how, its also company boards, where Drinkwater says they are often led by consultants. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. 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. 2 Trust's extensive shareholding at $75 a share. To join your company account for BusinessDesk and enjoy full access, Mainfreight employees are empowered to make decisions. On the plus side for Mainfreight shareholders, Bruce Plested has elected not to receive remuneration (i.e. She says Plested learned his management style growing up in blue collar Grey Lynn with Maori and Pacific neighbours. "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.
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