Mainfreight's History & Operational Strategy

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Given your history and experience at Mainfreight, maybe we can start by you walking us through Mainfreight's beginning in New Zealand. Why did Bruce Plested decide to start the business?

At that time, the New Zealand market was heavily regulated and controlled by the government. Free competition didn't exist and, within the freight sector, road operators couldn't compete against New Zealand railways due to government protection. A road operator couldn't cart more than 150 kilometers. This led to the rise of the mafia people finding ways around the system. Bruce, being a street fighter and maverick, was one of them. His legacy story, in the annals of Mainfreight was, in 1987, through his network, Bruce borrowed space on a coastal shipping alternative, which was exempt from regulation because no one thought anyone would put freight on it. He started a freight service between the two islands of New Zealand, offering 150% improvement in transit times at half the price compared to alternatives. This quickly gained momentum.

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That's interesting. What was your role at Mainfreight when you joined, and how did it evolve during your 35-year tenure?

Bruce Plested said, “I think if you are 80% ready, that means go”. That decision became the driving force of Mainfreight's culture, emphasizing "ready, fire, aim". That means not waiting for everything to be perfect before taking action.

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If I understand correctly, the idea to branch out and grow internationally, rather than just staying a local transportation business, was to differentiate Mainfreight from its competitors at the time?

Bruce Plested understood that value introduces margin, and margin is relative to your value proposition.

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