From what I understand for the last couple of years that he did the event. Francesa would waiver on his commitment to emcee the event and not RSVP until very close to the event date, which annoyed the school to no end.. At the last one that he did, he showed up at the Waldorf at the black tie President's Dinner in a crumpled brown suit (literally the same suit he broadcast in for hours). He was dreadfully unprepared, and all of his comments were off the cuff and off the mark. He played it like it was a small time event, not a night where SJU shines. He spoke as if he knew nothing about the school, and instead reached for jokes about Looie and the basketball program.
Beck by comparison dresses elegantly in a black tux, and speaks passionately and sincerely from prepared notes about St. John's religious mission to the poor and to students who may otherwise not receive a private college education. He makes everyone in the room feel great about their association with St. John's by expressing his own love about his own affiliation with St. Johns.
Beck has the job as long as he wants it. He is so far superior in all ways to Francesa, it's difficult to see how Mike would ever be welcomed back in that role.