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Currently CEO, Multimedia at Bloomberg LP, Lack was Chairman of the Board of Directors at SonyBMG Music Entertainment. He was the chief executive officer of SonyBMG Music Entertainment from 2004 to 2006. He oversaw all operations of the global recorded music company, a leading producer and marketer of pre-recorded music and video. From 2003 to 2004 he served as chairman and chief executive officer, Sony Music Entertainment.

Previously, Lack served as president and chief operating officer for NBC since 2001. During his tenure with NBC he oversaw Entertainment, News, including MSNBC and CNBC, NBC Stations, Sales and Broadcast & Network Operations.

From 1993 to 2001, Lack was the president of NBC News, where he transformed the News division into the most-watched news organization. Before going to NBC, Lack spent much of his television career at CBS News. His broadcasts at CBS earned numerous honors, including 16 Emmy Awards, four Alfred I. DuPont–Columbia University Journalism Awards, five Ohio State Awards, an Overseas Press Club Award, two Gavel Awards from the American Bar Association, a George Polk Award and a Clarion Award.

Lack attended the Sorbonne and received a bachelor of fine arts degree from the School of Fine Arts at Boston University in 1967.