Tracy graduated with a bachelor of science in mineral engineering from the University of Alabama in December 1973 and began his career as a mining engineer for Southern Company's Birmingham-based Fuels Department.
Tracy and began working for Drummond in May 1979. In 1986, after completing his master's in business administration at the University of Alabama, he joined the development team that recommended the company open coal mines in Columbia, and was made president of that division in 1990. He was promoted to vice president in 1998 and to president of the mining division in 2004. He left Drummond to serve as CEO of White Oak Resources between 2007 and 2010.
After returning to Drummond, Tracy again headed the mining division. He was given additional responsibilities over human resources and supply chain management before stepping into the role of CEO after the death of Neil Drummond in 2016. When he retired three years later, he was succeeded by Richard Mullen. He remained a board member of Drummond Company and Drummond International.
- Thornton, William (August 23, 2019) "Drummond Co. CEO Mike Tracy to retire Oct. 31." The Birmingham News