Just weeks after we highlighted the controversies surrounding Drummond Company’s foolish decision to goose-step with embattled law firm Balch & Bingham, Mike Tracy, the CEO of Drummond Company, is out as CEO.
After two years at the top job, Tracy is retiring at the end of October. He was part of the Drummond family for over four decades.
Although we have no bones to pick with the coal company, we lambasted the hypocritical decision by Drummond to fire ex-Drummond executive Dave Roberson in February after vowing to back him. (What happened to Drummond’s renowned loyalty to employees?)
Worse, 12 days after firing Roberson, Tracy dispatched a letter yanking support to Roberson’s charity of choice: a school that caters to developmentally disabled, special needs, and autistic children.
Drummond appeared to be more loyal to Balch, which provided extremely bad legal advice to Drummond, than to Roberson.
We wondered, too, if Drummond had agreed to a murder-suicide pact with Balch, as the firm has lost clients and money-making partners because of the criminal conviction of Balch-made millionaire and now ex-partner Joel I. Gilbert.
Why would Drummond ever want to be connected to the misconduct and bribery scandal born at Balch & Bingham?
Richard Mullen, a long-time Drummond executive and we are told a man of absolute integrity, will ironically take over on All Saints Day, November 1st.
We hope Mullen ends the cozy, cuddling relationship with Balch & Bingham and reinstates Drummond as a fiercely independent and loyal company as it always has been.
And then Mullen can saintly wrap up the Roberson matter quietly behind closed doors.