Annual Report 2013 - Mainfreight

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on any given day Wherever we are in the world, our 5,688 people are part of the one team. We deliver with care, pride and passion. Manny Arceo and Lee Sailata, Mainfreight Los Angeles 54 Mainfreight | Annual Report 2013
The supply chain logistics industry is recognised as being dominantly male, however as the Company moves into a broader geographic range, we are discovering areas where there is greater gender balance such as our Logistics business in the Netherlands, our Air & Ocean business in many locations, and our Russian, Polish, Finnish and Ukranian operations, where five of six branch managers are women. The Board does not currently have a Diversity policy, however Mainfreight is firmly committed to diversity and equality in all areas of its operations. THE ROLE OF SHAREHOLDERS The Board aims to ensure that shareholders are informed of all major developments affecting the Group’s state of affairs. Information is communicated to shareholders in the Annual Report, the Interim Report, and twice-yearly Newsletters. In accordance with the New Zealand Stock Exchange policy, the Board has adopted a policy of Continuous Disclosure as required. The Board encourages full participation of shareholders at the Annual Meeting to ensure a high level of accountability and identification with the Group’s strategies and goals. The Board has constituted the following standing Committees that focus on specified areas of the Board’s responsibility. AUDIT COMMITTEE The Committee is required to establish a framework of internal control mechanisms to ensure proper management of the Group’s affairs. The Committee is accountable to the Board for the recommendations of the external auditors, Ernst & Young, directing and monitoring the audit function and reviewing the adequacy and quality of the annual audit process. The Committee provides the Board with additional assurance regarding the accuracy of financial information for inclusion in the Group’s Annual Report, including the Financial Statements. The Committee is also responsible for ensuring that the Group has an effective internal control framework. These controls include the safeguarding of assets, maintaining proper accounting records, complying with legislation, including resource management and health and safety issues, ensuring the reliability of financial information, and assessing and over viewing business risk. The Committee also deals with Governmental and New Zealand Stock Exchange compliance requirements. During the year, two changes were made to the Committee’s members: Richard Prebble vacated his position and assumed a role on the Remuneration Committee and Simon Cotter was appointed to the Committee. Audit Committee: Carl Howard-Smith, Chairman Simon Cotter, Director Bryan Mogridge, Director REMUNERATION COMMITTEE The Committee reviews the remuneration and benefits of senior executives and makes recommendations to the Board. The Committee also monitors and reports on general trends and proposals concerning employment conditions and remuneration. General remuneration for all team members is reviewed on an annual basis and takes into account CPI and responsibility changes for each individual. This does not include senior executives. Senior executive remuneration is reviewed every eighteen months. A general increase is applied to all salaries in April, as detailed below. Senior executives’ salaries are reviewed every 18 months, and were last reviewed in April 2012. 1 April 2013 1 April 2012 New 2.5% 3.0% Zealand and Australia USA 2.0% 3.0% Asia 5.0% 5.0% Europe 2.0% 2.0% The discretionary bonus system used in Mainfreight was applied during the financial period. This bonus calculation is applied across all business units other than the Wim Bosman Group and only to those people who have completed 12 months continuous full time service for Mainfreight. The total cost of this discretionary bonus for the 2013 financial year is $13.98 million. Richard Prebble was appointed to the Committee during the past year.. Remuneration Committee: Bruce Plested, Executive Chairman Emmet Hobbs, Director Richard Prebble, Director Corporate Governance 55
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Annual Report 2013
Page 3 and 4:
The Mainfreight business has become
Page 5 and 6: Facts & Figures Our operations are
Page 7 and 8: Wherever we are in the world, all o
Page 9: on any given day We're tackling our
Page 12 and 13: Group Managing Director's report As
Page 14 and 15: Continued investment in facilities
Page 16 and 17: once again working to provide Austr
Page 18 and 19: We continue to work hard to further
Page 20 and 21: We have increased our trans-border
Page 22 and 23: Margin levels have been impacted as
Page 24 and 25: Laurie McMahon, Mainfreight Christc
Page 26 and 27: Environment Mainfreight has always
Page 28 and 29: Our people We have no widgets or ga
Page 30 and 31: 28 Mainfreight | Annual Report 2013
Page 32 and 33: NZ CaroTrans Auckland Eyah Al-atafi
Page 34 and 35: Tracy Hapi, Eddie Hiku, Christine K
Page 36 and 37: Cici Liu, Andy Lling, Liarena Lu, R
Page 38 and 39: Anita Seegers, Michael Siebenheller
Page 40 and 41: on any given day Behind the scenes
Page 42 and 43: Marcel ter Heerdt, Driver in Domest
Page 44 and 45: on any given day Mainfreight has he
Page 46 and 47: Executive Team Carl George National
Page 48 and 49: Executive Team continued Carl Howar
Page 50 and 51: Targets & Achievements Recent Curre
Page 52 and 53: Capital Expenditure This year’s f
Page 54 and 55: Corporate Governance THE ROLE OF TH
Page 58 and 59: on any given day Whatever we do, wh
Page 60 and 61: Board of directors Emmet Hobbs Inde
Page 62 and 63: 60 As we drive ourselves hard in th
Page 64 and 65: Operating Statistics How we measure
Page 73 and 74: Notes to the Financial Statements F
Page 75: 2 Summary of Significant Accounting
Page 79 and 80: 2 Summary of Significant Accounting
Page 85: 3 Financial Risk Management Objecti
Page 122 and 123:
Glossary Air & Ocean C&F EBIT EBITA
Page 124:
Recruitment gets underway for our n
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Annual Report 2013 - Mainfreight

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