After four seasons at the helm, University of Michigan Football Coach Brady Hoke was let go Tuesday.

University of Michigan Interim Director of Athletics Jim Hackett made the announcement at a news conference in Ann Arbor, saying he had come to the decision on Sunday night.

Michigan finished 5-7 this fall, losing its season finale 42-28 to rival Ohio State in Columbus, Ohio, on Saturday.

A former assistant coach at U-M, Hoke led the Wolverines to a 31-20 record (18-14 in Big Ten Conference games) in his four seasons. After an 11-2 record and Allstate Sugar Bowl win his first season, U-M went 8-5 in 2012 with an Outback Bowl bid and 7-6 in 2013 with an Outback Bowl bid.

U-M Sport Administrator Mike DeBord, a former U-M assistant football coach and Central Michigan's head coach from 2000 to 2003, was named to oversee the program's day-to-day administration until a successor for Hoke is named.

Hackett said "this was not an easy decision," calling Hoke a "hero" who was well-regarded by the coaching staff, team and community and adding that "I wished I'd had more time with him."

"This was not an easy decision given the level of respect that I have for Brady. ... In the end, I feel that moving in a different direction is the right decision." -- Jim Hackett, University of Michigan Interim Athletic Director

"I wanted to make sure that Brady received adequate time to exhibit the results that would come from his effort and I believe that Brady and our coaching staff had enough time to produce those results and, unfortunately, they are not there," Hackett said. "In the end, I feel that moving in a different direction is the right decision."

There were several factors that played into the decision, but it ultimately came down to the on-the-field results, he said.

"This was not an easy decision given the level of respect that I have for Brady. He has done a great job of molding these young men, making them accountable to their teammates, focusing them on success in the classroom and in the community," Hackett said. "I wish Brady and his family all the best in the future."

Michigan reportedly owes Hoke a $3 million buyout.

Hoke did not issue a statement after his firing.

Hoke and Hackett had both met with Michigan's players on Tuesday, and Hackett added he planned to meet with them again for a more open and earnest discussion about their next coach.

Michigan was not bowl eligible this year along with the Big Ten's Indiana, Purdue and Northwestern. The Wolverines have not won the Big Ten since 2004.

A Ball State graduate and player, he was previously head coach at Ball State (2003-08) and San Diego State (2009-10) before taking the post at U-M, where he had been an assistant from 1995 to 2002. Hoke is 73-63 in 11 seasons as a head coach.

The criteria for the new coach is that they will fit "with the values of Michigan," said Hackett, who plans to work with a head-hunting firm. "I believe the head coach of Michigan is one of the finest opportunities in college sports today and we will have great options."

Hoke's firing came on the same day that his U-M predecessor, Rich Rodriguez, now at Arizona, was named Pac-12 Coach of the Year.

Earlier Tuesday

Multiple sources were reporting that Michigan football coach Brady Hoke was fired.

The University of Michigan has scheduled the news conference for 4:30 this afternoon.

News of a scheduled Tuesday afternoon meeting between Hoke and Hackett broke Monday night, with multiple sources now confirm the results of that meeting.