Interim Athletic Director Jim Hackett could be in office for another year or another month. Either way, he will be paid handsomely.
Following former Athletic Director Dave Brandon’s resignation Oct. 30, Hackett will work in an interim role for an “indefinite” period of time, for which he will be paid an annual salary of $600,000. This information comes after the University released Hackett’s appointment letter Monday evening.
The letter also stipulates that Hackett will be eligible for University benefits, including health and life insurance, as well as compensation for housing for as long as he is in office.
Hackett’s salary is less than Brandon’s $900,000 annual pay, which also featured potential bonuses and deferred compensation that would have given the former athletic director a total annual compensation of more than $1 million.
“The term of your employment is indefinite at the will of the president, and is expected to continue until such time as a new Athletic Director is installed,” the letter stated.
Hackett signed on Nov 3. — two days after the appointment became effective.
University President Mark Schlissel told The Michigan Daily last week he had not yet begun the search for a new athletic director, nor had determined how long the process would take.
In a speech to the Senate Advisory Committee on University Affairs Monday, Schlissel said he aims to find an athletic director who will inspire integrity within the department.
“Some folks wanted me to hire an athletic director (earlier) so he could fire the current football coach and hire the next coach but I want to take the time to make sure we get someone who is not only technically adept, but can ensure that the program has financial and academic integrity, and also someone who shares the value system of realizing our mission,” Schlissel said.
Hackett, a former CEO of Steelcase, also played under former Michigan coach Bo Schembechler.
“I deeply appreciate your willingness to serve the University of Michigan in this capacity, and I look forward to working with you,” Schlissel wrote in the letter.