LendingTree CEO and founder Doug Lebda died in an ATV accident on Sunday, the company confirmed
Doug Lebda, founder and CEO of Charlotte-based fintech company LendingTree, died Sunday following an all-terrain vehicle accident. He was 55.
The board appointed Scott Peyree, LendingTree’s president and COO, to replace Lebda as CEO, effective immediately.
The board said in a statement it will work with Peyree “to honor Doug’s vision.”
- “Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the statement read.
- The company did not disclose any further details about Lebda’s death.
Context: In 1996, Lebda founded LendingTree, an online marketplace that lets borrowers comparison shop for various types of loans, from mortgages to student refinances.
Scott Peyree, LendingTree’s chief operating officer and president, has now been appointed CEO effective immediately. And lead independent director Steve Ozonian will also step into Lebda’s role as chairman of the board, the company said.
Shares of Charlotte, North Carolina-based LendingTree fell more than 2% by early afternoon trading on Monday.
Lebda founded LendingTree in 1996 — to “simplify the loan shopping process” after experiencing his own frustrations when getting his first mortgage, LendingTree’s website notes. The platform launched nationally in 1998 and became a public company in 2000. It was later acquired by internet conglomerate IAC/InterActiveCorp, before spinning off on its own again in 2008.
Today, LendingTree’s central online loaning marketplace helps users find and compare loans for mortgages, credit cards, insurance needs and more. LendingTree, Inc. also owns brands across the financial sector — including CompareCards and Value Penguin.
In addition to his multiple-decade career at LendingTree, Lebda also co-founded a financial services platform for children and families called Tykoon in 2010. He previously worked as an auditor and consultant for PriceWaterhouseCoopers.
“All of my ideas come from my own experiences and problems,” Lebda told The Wall Street Journal in a 2012 interview.
