The Port of Tacoma's new executive director, John Wolfe, will receive an annual salary of $220,000, the Port of Tacoma Commission decided Thursday.
It’s the same salary Wolfe’s predecessor Tim Farrell received before he left his post in December.
In addition, Wolfe will receive a $700 monthly car allowance, four weeks of annual vacation and a benefits package similar to what other port employees receive.
Wolfe’s new salary is at the midpoint of the range – $200,000 to $240,000 – that the commission advertised in seeking a new executive director.
The new executive director’s contract includes a provision that he is entitled to six months of severance pay if he leaves the job involuntarily but without cause.
The commission selected Wolfe from among five finalists earlier this month to head the port. Fifty-nine people applied for the port director job.
He worked at the Port of Olympia before taking the deputy director job in Tacoma. Before working in Olympia, Wolfe worked for Sea-Land for 10 years at the Port of Tacoma. Wolfe is a 1987 Pacific Lutheran University graduate who lives in Puyallup. Wolfe’s major task will be putting the port back on solid financial ground. The port’s annual report showed a loss of $17.9 million last year, caused, in large part, by a global economic downturn.