Our data suggests that Bruce Plested, who is also the company's Top Key Executive, holds the most number of shares at 15%. Precinct Properties reported a full-year revaluation gain of $284m including the $148.5m increase recognised at the end of December. Dr Oliver Hartwich. Today he chairs a group of telecommunication companies. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. If you would like to customise your choices, click 'Manage privacy settings'. You may withdraw your consent at any time. "Completion of the whole project will be at the end of next year," Mair said. We will remind you three times before charging you. The index's intraday high was 12,587.68 points. He is a long-term bull on the stock and I have no issue whatsoever with his move.". 2 Trust's extensive shareholding at $75 a share. I am proud to work in Sandoz Nordics where we have just been certified in Denmark as an accredited "Great Place to Work". This risk is higher in a company without a history of growth. That noted, before packing your bags you can expect to spend your first few years in Australia building your knowledge, skills and understanding of the Mainfreight way. The Centre is part of a particularly dynamic ecosystem, within the second French . Alternatively, email editorial-team (at) simplywallst.com. What sort of money? Check out their presentation - https://bit.ly/3BAWpSs #mainfreight # . Mainfreight Americas 21,433 followers 7mo Hey there Dallas, TX! Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. Selwyn has worked with Plested for 41 years, since before he started Mainfreight. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. Bruce Plested. Or use the information youve already given Google to create your subscription. 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. [3] [4] When the company was founded it entered a highly regulated transport market. Appointment to Board 1978 - With Mainfreight since 1978. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. In his 35-year career, Kevin Drinkwater has seen tremendous change and many fads. On 11 June 2007, Mainfreight 'signed a call option deed' to purchase the entirety of the shares of Australian-based Halford International. 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. Mair did an engineering degree in Auckland in the early 1970s, then worked for the once-great Wilkins & Davies. Plested says some households ended up with 60 books on their shelves. Today Mainfreight has been transformed into a major international logistics company with 6011 employees working in 233 operations around the world. Plested got in touch with Duff after seeing the writer in a documentary, talking about the state of New Zealand. Few other business leaders think in terms of a 100 years or so. You can find historic revenue and earnings in this detailed graph. 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. It's no use just giving people more money.. 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. . There are no company memos and as little email as they can get away with. Plested is also a great reader; some of those ideas come from books. Aligned with shareholders. ", Selwyn says Plested has personal qualities that make this management style work. Liked by Brad Greer. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. 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. Braid says instead of these there's a lot of "picking up the phone and talking". Every investor in Mainfreight Limited ( NZSE:MFT ) should be aware of the most powerful shareholder groups. However, high insider ownership can also give immense power to a small group within the company. It's a tough venue to weave into . He recalls the money was for spending, not investing. He has also personally funded marinas at Tutukaka, pua and rkei. Concerned about the content? Port of Tauranga was up 4c to $7.30, and Marsden was down 3c to $6.02. "Each person has responsibility for what they do. Clearly the two are well matched. "I just give SKP money so it's more of an even fight. He imagines he follows the rules but still gets "hauled off to a concentration camp". Facilities for the wider boating community were, he said, a big plus on Waiheke. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. He has also lent his considerable support to not-for-profit organisations such as the Starship Foundation. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. Plested's employees will certainly agree with that assessment. I love the cloud concept; I dont like the cost so we have a fraction of our compute in the cloud ,and [yet] it costs us almost as much as all the HPE equipment we have in our primary and secondary data centres.. The other thing is to have our own ideas. 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.". [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. The Clermont-Auvergne-Rhne-Alpes Centre brings together the units located in the Auvergne region, from Bourbonnais to Aurillac via Clermont-Ferrand, with 14 research units and 14 experimental facilities, representing 840 staff (permanent and contractual staff). Get in touch with us directly. The six-bedroom, seven-bathroom waterfront plantation with its own winery is owned by businessman David Parkinson and wife Deidre Crawford. 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. This information will be used to measure the effectiveness of our advertising from various channels and to offer you personalised ads. Retailer Briscoe Group was down 11c or 1.91 per cent to $5.65; Air New Zealand lost 3.5c or 2.11 per cent to $1.62; AFT Pharmaceuticals fell 10c or 2.15 per cent to $4.55; Scott Technology declined 9c or 3.5 per cent to $2.48; Vista Group decreased 8c or 3.43 per cent to $2.25; and Plexure Group was down 4c or 5.33 per cent to 71c. Additionally, the company's CEO Donald Braid directly holds 2.8% of the total shares outstanding. In 2016, when Auckland Council granted consent, SKP appealed that to the Environment Court but was refused and the consent was upheld. I generally like to see some degree of insider ownership, even if only a little. He imagines he follows the rules but still gets "hauled off to a concentration camp". Thats at least 10% of the branchs profit, and we paid worldwide $28 million in profit bonuses last year, Drinkwater says. 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. Mair said another drilling rig would arrive shortly. Mair estimates a quarter of berths are for sailboats, the rest for motorboats. He was later joined by Neil Graham. When an insider holds a sizeable amount of a company's stock,. We were spellbound.. In March 2011, Mainfreight entered the European market with the acquisition of Netherlands-based company Wim Bosman Group for 120 million; or $227 million. This size of ownership gives retail investors collective power. She says: "He can talk to people, of course the secret to doing that is being a good listener.". He sets high standards for himself and has created a family atmosphere where people want to prove their worth to him. The Mainfreight instruction manual is short: Feel the fear but do it anyway. 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. Daughter Sarah Mair is marketing and sales manager and Tony Mair says more than 1000 people are on the company's database, updated about the project's progress. All berths beside the wharf, closest to the land, are pre-sold. You can see Mainfreight's historic earnings and revenue below, but keep in mind there's always more to the story. more. 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. Its a way of saying things that couldnt be said elsewhere, Plested said. 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. 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. Braid says: "There a capitalist motive behind this, Bruce believes profit is a great motivator.". [3][4], When the company was founded it entered a highly regulated transport market. One of the critical areas that we need to improve on is using data to create more predictability, he says. "It's disappointing because it's my last one," Mair says of the Waiheke project. Check out our latest analysis for Mainfreight. A substantial holder notice showed Mainfreight founder Plested sold 1 million shares off-market for $75m through Rorohara No. The charity acquired more shares since then and they were worth $5.68m in June 2020. Reminder, this is a Premium article and requires a subscription to read. Based on our data team's research, Ben Fitts is the Mainfreight's CEO. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. 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 Leisure and travel stocks SkyCity Entertainment rebounded 10c or 2.9 per cent to $3.55; Serko gained 30c or 4.23 per cent to a new high of $7.40; and Tourism Holdings increased 4c to $2.57. Liked by Brad Greer. Mainfreight chairman Bruce Plested sold 1 million shares worth $75 million. It also has investments in Z Energy and a portfolio run by Fisher Funds. The company was co-founded by current Chairman Bruce Plested in 1978.. Plested decided to start up his own freight business after he was fired over "allegedly swinging a . [4] This operation was expanded with depots in Melbourne and Brisbane. 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. So it went to the Court of Appeal, which also said no. "When Mainfreight was starting out, people had to work late on Thursday nights loading sea freighters. Swallows and Amazons, Arthur Ransomes perennial tale of a summer camping and sailing in the English Lake District, is one book he fondly remembers. The cheapest berths went for $180,000. Other Current Directorships: Information and Communication Services Limited (Chairman), Seronic (NZ) Limited, and his family companies. [13] The transaction was completed on 6 June 2007. The context, as both recall, was the murder of a child. "It is all about visionary leadership. Synlait Milk, which supplies a2 Milk, was down 9c or 2.5 per cent to $3.51. They had a total of 1,540,506 employees among them. Empowerment can be rewarding in other ways. Here, he shares the lessons of his career with CIOs everywhere. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Weve probably trebled in size since then, yet were still using the same footprint. A look at the shareholders of Mainfreight Limited (NZSE:MFT) can tell us which group is most powerful. When the company was founded it entered a highly regulated transport market. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Nearly 30 years ago the billionaire helped kick-start the Duffy Books in Homes programme, along with writer Alan Duff and philanthropist Christine Fernyhough. "We are funding this by donors coming up to us and putting serious financial skin in the game.". It isnt only schools that lack technology know-how, its also company boards, where Drinkwater says they are often led by consultants. 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]. Subscribe to our free 7am Headlines newsletter. [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. Shares go up and down.". DCB had a staff base of five employees on the date of acquisition, however, staff was expected to rise to seven employees.
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