Jack Stack Shares Lessons in Risk, Resilience, and Empowerment
At the July 22 session of The Network’s Local Leadership Series, young professionals welcomed Jack Stack, CEO of SRC Holdings Corporation, for an honest conversation on leadership, risk-taking, and the power of open-book management.
Stack, who led SRC’s transformation from a single Springfield factory into a family of 12 employee-owned companies with more than $500 million in annual sales, shared lessons drawn from decades of bold moves, hard decisions, and a deep belief in people. His leadership style, grounded in transparency, trust, and experience, deeply resonated with the audience of young professionals and emerging leaders.
Originally from Chicago, Stack moved to Springfield in 1978. He was quickly struck by the work ethic and spirit of the people. “Workers just wanted the tools to do the job, and the freedom to do it well,” he said.
That mindset fueled what would become one of Springfield’s most iconic business stories. Facing layoffs at the local International Harvester plant in the early 1980s, Stack, then just 29, pitched a radical idea: an employee buyout. With a $100,000 down payment and a $9 million loan at 18% interest, SRC was born.
“What I didn’t understand was the power of fear,” Stack said. “I just knew we had to try.”
Through open-book management, Stack pioneered a model that treats every employee like an owner — teaching financials, encouraging input, and building a business-savvy workforce.
Today, SRC has helped launch more than 70 companies and created roughly 2,000 jobs across the Springfield region. Not every venture succeeded, but each one came with a willingness to take a risk, accept the possibility of failure, and learn from the outcome. Stack credits much of that success to a culture of shared accountability, long-term thinking, and a relentless focus on financial literacy.
To the next generation, Stack offered a call to action: Take risks. Act now. Define your “why” through doing. “I was a C student,” he said. “I want to work with C students because they take the chances.”
Looking ahead, Stack cautioned about potential economic challenges by 2030 but remained optimistic about Springfield’s future. He praised the region’s affordability, location, and quality of life and encouraged continued investment in education, infrastructure, and economic development.
“I love Springfield. I love the Ozarks,” he said. “Let’s raise the bar.”
The Network’s Local Leadership Series continues to provide valuable opportunities for Springfield’s young professionals to connect with established leaders, gain insight, and grow their careers. Stay tuned for future events that foster leadership development and strengthen our community.
Thank you to our 2025 Presenting Program Sponsor, OMB Bank, and our 2025 Local Leadership Series Presenting Sponsor:
