[4] This operation was expanded with depots in Melbourne and Brisbane. Braid says: "There a capitalist motive behind this, Bruce believes profit is a great motivator.". He is also fast-moving. 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 . They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. Plested's employees will certainly agree with that assessment. Dr Oliver Hartwich. 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. In the 12 months ended June 2021, the Alan Duff Charitable Foundation received $3.65 million, mostly grants and donations, and included a $110,000 investment dividend. 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. Its a way of saying things that couldnt be said elsewhere, Plested said. The company was established in Auckland, New Zealand, in 1978 by our current Chairman, Bruce Plested. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. Kitt Littlejohn, an independent director of the marina business, says construction began in March because a valid resource consent existed. Other high profile residents on Waiheke include former All Blacks rugby coach Sir Graham Henry, Mainfreight transport founder Bruce Plested and New Zealand's richest man Graeme Hart, who bought . You wont get many consultants that tell you to build a bespoke system.. 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. Liked by Brad Greer. That means that even when the share price was higher. A Ferry-Commute from Auckland, Waiheke Island Offers Sun, Sand and Wine 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. Plested said he had given opponents SKP (previously called Save Kennedy Point) around $40,000 to pay for legal fees. 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. Current positions of Bruce Plested Holdings of Bruce Plested Bruce Plested : Personal Network 04/04 The broad rally seen over the previous three trading days also petered out. In May 2011, Mainfreight established a CaroTrans branch in Santiago, Chile. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. 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. While they have used off-the-shelf solutions (or packages, as he describes them), Drinkwater says these often dont meet the needs of the business. 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. DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees. Plesteds early home life was a book-filled one, and his mother would always read to her two sons. Mainfreight boss asks should profit sharing with staff be essential The Centre is part of a particularly dynamic ecosystem, within the second French . Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . Bruce Plested, founder of Mainfreight, said his business partner of 36 years was "the humourist and salesman without peer". Mair is using Swedish technology from a floating marine business in Gothenburg. Her knowledge of high-tech companies is a welcome addition to the Boards capabilities, as is her familiarity with the complexities of acquisitions, and steering companies through growth and change. This can be negative in some circumstances. It is very interesting to see that insiders have a meaningful NZ$1.4b stake in this NZ$6.8b business. He recalls the money was for spending, not investing. "Some of it comes from within, some comes from experience, knowing what works and what doesn't. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Plested gave the charity $250,000 in 1998, which Duff used to buy shares in the company. 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. 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. Let's delve deeper into each type of owner, to discover more about Mainfreight. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. He said it. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. He is most proud of his professional qualifications. As for Mainfreight, he wants to build a 100-year company, and so there's no short-term decisions.. A good Samaritan. Find out more about how we use your personal data in our privacy policy and cookie policy. Bruce is also someone I admire. Concerned about the content? No BusinessDesk 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. Mainfreight listed on the NZX in 1996 Mainfreight was founded on March 23, 1978 by Bruce Ples That will be a jack-up barge with a drilling rig, able to work on the 26 reinforced concrete piles for the new wharf. To help pay the bills on time, Plested gave the charity a $500,000 interest-free loan in 2020. Bruce would make sure there was a roast dinner laid on for everyone who helped.". 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. 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. This was the lion's share of the charity's total expenditure of $4.08m. [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. Arriving fresh faced from university, this company for the past (almost) three years has. Mainfreight founder Bruce Plested battling Waiheke Island marina It's always worth thinking about the different groups who own shares in a company. enter your email and well send you details. His intellect and pragmatic approach is highly regarded at the Board table. Small company shows how the power of digital can transform lives. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. When such a trade goes wrong, multiple parties may compete to sell stock fast. Founding Owner & Executive. The project is downsized from the original plans. Its the end of the road at Mainfreight for CIO Kevin Drinkwater, who officially retires on 31 December 2020. Mainfreight is a global supply chain company that prides itself for having "special people, special company" . Despite a steady recovery in 2021, the magazine was hit by a recent decline in volumes and rising costs. Precinct Properties reported a full-year revaluation gain of $284m including the $148.5m increase recognised at the end of December. 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. Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. You can access this free report on analyst forecasts for the company. 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. We note that hedge funds don't have a meaningful investment in Mainfreight. They describe him as both a "rounded person who links to the commercial community" and an "extraordinary character". Mainfreight Ltd. engages in the freight logistics services and supply chain solutions. We were spellbound.. 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. I generally like to see some degree of insider ownership, even if only a little. 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. From our data, we infer that the largest shareholder is Bruce Plested (who also holds the title of Top Key Executive . "It's about creating a feeling of whanau. NZ companies are well below the global aspirational target for charitable giving. Other Current Directorships: Few other business leaders think in terms of a 100 years or so. mainfreight 250bruce plested1978 Reminder, this is a Premium article and requires a subscription to read. {{ 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. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. "We'd find a soft spot and dig eight to 10ft in and find these cannonballs," recalls the engineer, now in his mid-70s. Plested says some households ended up with 60 books on their shelves. 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. The certification is based. They established agencies in the early days with Australian, Pacific Island and United States freight forwarders and the established agents in most major trading partner countries of New Zealand. He imagines he follows the rules but still gets "hauled off to a concentration camp". [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. He was also involved in maritime projects in Singapore, Malaysia and Borneo followed. madness, quite extreme. What Kind Of Shareholders Hold The Majority In Mainfreight Limited's Global marketer a2 Milk's recovery ran out of puff after falling 18c or 2.93 per cent to $5.97. The cheapest berths went for $180,000. Mainfreight Limited (NZE: MFT) is a global transport and logistics business based in New Zealand.. -Warehouse BDM / ()_Warehouse BDM / () 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. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! Asia, and the United States. 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 did a concert which raised about $40,000 for lawyers and I gave them an amount of money very similar to that three to six months ago.". Read Less Key Principal: Bruce George PLESTED See more contacts Industry: Warehousing and Storage , Freight Transportation Arrangement , Transportation and Warehousing , General warehousing and storage , Special warehousing and storage, nec 2 Trust. Insiders At Mainfreight Have Bought Stock Recently Over the last three months, we've seen significantly more insider buying, than insider selling, at Mainfreight. Plested's. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. Ideas. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. It's a tough venue to weave into . Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. 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. We can see that Mainfreight does have institutional investors; and they hold a good portion of the company's stock. 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. During his tenure, Drinkwater has witnessed huge changes in technology. 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. 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. Despite the protests, his view is the score is now 18 down, one to go. 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. "My involvement in these marina projects resulted in the sale of over 6000 marina berths.". A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Founded 2,000 years ago, Lyon's streets are a living museum, with beautiful historical buildings and interesting art galleries and museums. He has worked with author Alan Duff to put books in the homes of poorer children. Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. The companys annual report has become a must-read for Plesteds chairmans statement. 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 other thing is to have our own ideas. 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. MFT Stock Price and Chart NZX:MFT TradingView 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. She says Plested learned his management style growing up in blue collar Grey Lynn with Maori and Pacific neighbours. New Engineer jobs added daily. 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. 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]. 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. Bruce George Plested founded 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. She says: "He can talk to people, of course the secret to doing that is being a good listener.". Drinkwater has contributed to the local CIO community and has regularly featured in the CIO50 New Zealand Awards in 2019 he was No. 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. Board meetings. [13] The transaction was completed on 6 June 2007. 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 . The road to the marina will be widened, improved in a strip around 200m long. Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. "In more recent times I just read business books, which is quite naughty, he adds. Last year, CoGo partnered with Westpac to promote its carbon tracker to the bank's customers. 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. This endeavor launched the first permanent investment into South America. I do want to say that there is no way wed ever go build our own email. Profile. 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. He is also on the board of Rorohara No 2 Trust. His visits to our local and overseas operations guide our teams to be sales-focused and always aiming for operational excellence. 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. 3. 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. Books are handed out at some 510 participating schools, often with a role model on hand.
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