LAS VEGAS (AP) — The parent company of Allegiant Air said Thursday that its president will become CEO in September, replacing longtime chief executive Maurice Gallagher, who will remain chairman of the board.
Allegiant Travel Co. said that Gregory C. Anderson will retain the president’s title and join the board of the Las Vegas company.
Anderson had a background in accounting at Ernst & Young and US Airways before joining Allegiant in 2010. He rose to several executive jobs including chief financial officer.
“In many ways, he’s already doing the job” of CEO, Gallagher said in a prepared statement about Anderson. “It’s time to make it official.”
Gallagher, 74, has led Allegiant for most of the last two decades, building it into one of the nation’s largest so-called ultra-low—cost carriers, which offer cheap fares but add more fees than more-conventional airlines. He is Allegiant's largest shareholder, owning more than 13% of the company's shares.
Gallagher stepped down as CEO in 2022 but returned a little more than a year later after the sudden departure of John Redmond.
Shares of Allegiant Travel were down less than 1% in midday trading.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for September 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.