Playing—And Winning—The Long Game
On June 12, 2025, about six hundred SRC employee-owners gathered—both in person and online—for the company’s annual shareholder meeting. Jack Stack, Chairman and CEO, kicked off the event, which served as a celebration of the company’s exciting future and an opportunity to reflect on a year of strong financial results, steady leadership, and ongoing investment in SRC’s most valuable asset—its people.
Building the Future from the Inside Out
A key focus of the evening was how SRC continues to enhance its internal capabilities to seize opportunities ahead, particularly in planning for future growth by developing strong talent pipelines at every level of the organization. Since 2017, SRC has more than doubled its investment in training and talent development to benefit its employee-owners.
“We’re here to celebrate our people, who are the heart of SRC,” said Krisi Schell, SRC’s Executive Vice President of Human Resources “in our Great Game system people are our critical number, and we are hyper focused on investing in their growth to build the teams to lead us into the future.”
The outcomes of SRC’s people-first approach were evident across key performance metrics:
Retention rose to 78%, with specific divisions, such as SRC Logistics Illinois, demonstrating an 11% improvement over the prior year.
Turnover decreased by 10%, with one division seeing a 39% drop.
Healthcare premiums are 55% lower than the national average, thanks to a wellness committee headed by associates.
Safety milestones continue to rise, with multiple SRC divisions reaching millions of safe hours.
Educational and career pathways provide employee owners the opportunity to advance their careers by acquiring new skills and gaining experience.
401(k) participation has reached 99%.
“The valuation of each company moving forward will not necessarily focus on the price multiple but rather on the talent within the organization,” said Jack Stack. “This organization is much deeper than we’ve ever been before—and that depth is what will carry us. We’ve been through four recessions, 9/11, a pandemic, and now tariffs. And we’re still standing strong.”
The Power of Ownership
A pivotal moment in the meeting that SRC’s employee-owners had eagerly anticipated was the stock price reveal, reflecting the employee-owners' yearlong efforts to deliver consistent operational improvements, margin gains, and thoughtful capital investments.
When the new stock price was announced—an impressive increase of 15.8%, marking the fourth consecutive year of double-digit growth—the room erupted. Cheers, applause, and a few fist pumps from the back of the crowd reflected the pride and ownership among its employee-owners that fuels SRC’s economic engine.
What’s remarkable is that the wealth SRC has created over the past 43 years has been shared among its employee-owners rather than being distributed to outside investors. SRC is 100% owned by an Employee Stock Ownership Plan (ESOP), which serves as a long-term wealth-building benefit for its participants. Thanks to the ESOP shares they earned throughout their careers, several retirees have left as millionaires. Since 1983, the company has paid out approximately $200 million to its employee-owners who retired or left the company, and they continue to use those funds to reinvest in their local communities.
Much of the company’s strong performance is based on how SRC engages with the Great Game of Business, which forms the foundation of its culture. From daily huddles to long-term planning, the GGOB system provides every employee-owner with the knowledge and tools to think—and act—like an owner.
We’re on the move and going places,” said Jack Stack. “There’s nothing but opportunity ahead of SRC’s employee owners.
Leading for the Long Game
To conclude the shareholder meeting, SRC’s associates approved the members of its Board of Directors. SRC’s current board members were approved by the SRC employee-owners on June 12. The board will guide SRC’s future as it remains committed to unlocking the full potential of its people-powered culture.
SRC also announced another key step in its long-term succession plan, which began in 2017, by naming Tim Stack as President. Stack, an 18-year veteran of SRC who has overseen multiple divisions throughout his career, will assume operational leadership responsibilities for the company. Jack Stack will continue as CEO and Chairman of the Board, focusing on long-term strategy and culture.
At the request of the Board in 2023, Tim successfully led a team of executive leaders and collaborated with the SRC organizations to develop and present a long-term strategic plan to the Board, focusing on leveraging the resources the companies are expected to accumulate through 2027. Tim was named Vice Chairman of SRC’s Board of Directors in 2024, serves on SRC’s ESOP Committee as an ESOP trustee, and is a certified internal Great Game of Business Coach.
“I’ve always believed that our job as leaders is to build the next generation,” Jack said. “And we’ve done that. Tim is ready. The company is ready. And there’s no ceiling on what’s next.”