- After less than a year and a half in the position
- Maurice Gallagher taking over
- Redmond kept it short and said 53 words
(exechange) — Las Vegas, Nevada, September 28, 2023 — John Redmond, chief executive of Allegiant, leaves his position. As announced by Allegiant Travel Co. in a news release on Thursday, September 28, 2023, John Redmond leaves his post as chief executive officer at the integrated travel company with an airline at its heart, after less than a year and a half in the role, effective immediately.
Generally speaking, it raises questions when a CEO leaves his post abruptly and after a short tenure.
John Redmond’s duties as CEO will be taken over by Maurice J. Gallagher, the former chief executive officer of Allegiant Travel Co.
No reason given
In the announcement, Allegiant did not explicitly explain the reason for the move.
Precise information regarding John Redmond’s future plans was not immediately available.
“Resigned”
Allegiant said: “John Redmond has resigned as chief executive officer and as a member of the Board of Directors effective immediately.”
Share price decline since June 2022
The announcement follows a decline in Allegiant Travel Co.’s share price of 48% since June 2022. June 2022 is the month in which Redmond’s tenure as CEO began.
In the position of CEO since 2022
John Redmond became CEO of the Company in 2022.
John Redmond was originally elected to the Company’s board in 2007 and served until June 2013, when he resigned to assume a full-time commitment in Australia.
After the completion of his commitment, he was once again designated to serve on the board in April 2014 and in September 2016, he was hired as the company’s president in which position, he served until August 2022.
Redmond assumed the role of chief executive officer as of June 1, 2022.
From January 2013 until April 2014, Redmond served as managing director and chief executive officer of Echo Entertainment Group, Ltd., a gaming and hospitality company.
From 2007 until January 2013, Redmond devoted his time to his private investments. Redmond served as president and chief executive officer of MGM Grand Resorts, LLC and a director of its parent company, MGM Mirage, from 2001 until 2007.
Prior to that, he served as co-chief executive officer and a director of MGM Grand, Inc. from December 1999 to March 2001.
He was senior vice president of MGM Grand Development, Inc. from 1996 to 1999.
He served as vice-chairman of MGM Grand Detroit, LLC from 1998 to 2000 and chairman from 2000 until 2007.
Prior to 1996, Redmond was senior vice president and chief financial officer of Caesars Palace and Sheraton Desert Inn, having served in various other senior operational and development positions with Caesars World, Inc.
Redmond has served as a director of Vail Resorts, Inc. since 2008.
53 words by John Redmond
In announcing his departure, John Redmond kept it short and said 53 words.
“Carry the project over the finish line”
John Redmond stated: “I am grateful to the board for giving me the opportunity to be a part of this incredible organization. I’m particularly proud of the Sunseeker team we’ve put in place, and I know they will carry the project over the finish line and establish the hotel as a premier destination in Southwest Florida.”
Push-out Score for John Redmond’s move determined
The Push-out Score indicates on a scale of 0 to 10 how likely it is that John Redmond was pushed out or felt pressure to leave his position.
exechange reached out to Allegiant and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 40.2023 ($).