Allegiant CEO Resigns, Founder Gallagher Returns to Top Job (2)

Allegiant Travel Co.’s chief executive has stepped down and will be replaced by founder Maury Gallagher, one of the discount carrier’s top shareholders.

John Redmond resigned as CEO and director effective immediately, the parent company of Allegiant Airlines said in a statement Thursday. Redmond left for personal reasons and not because of any disagreement with the board or on company strategy, President Greg Anderson said in an interview. He declined further comment on what personal reasons were involved, citing company policies.

Redmond, 65 and a former chief executive at MGM Grand Resorts LLC, spearheaded a Florida real ...