LendingTree CEO and founder Doug Lebda died in an all-terrain automobile accident over the weekend, the web loaning platform mentioned Monday. He was 55.
In an organization announcement, LendingTree confirmed that Lebda died on Sunday and that the corporate was greiving his sudden dying. A spokesperson mentioned the accident occured at a household farm in North Carolina.
“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” LendingTree’s board of administrators mentioned in a ready assertion. “His passion will continue to inspire us as we move forward together.”
Scott Peyree, LendingTree’s chief working officer and president, has now been appointed CEO efficient instantly. And lead impartial director Steve Ozonian may even step into Lebda’s function as chairman of the board, the corporate mentioned.
Shares of Charlotte, North Carolina-based LendingTree fell greater than 4% by afternoon buying and selling on Monday.
Lebda based LendingTree in 1996 — to “simplify the loan shopping process” after experiencing his personal frustrations when getting his first mortgage, LendingTree’s web site notes. The platform launched nationally in 1998 and turned a public firm in 2000. It was later acquired by web conglomerate IAC/InterActiveCorp, earlier than spinning off by itself once more in 2008.
Today, LendingTree’s central on-line loaning market helps customers discover and evaluate loans for mortgages, bank cards, insurance coverage wants and extra. LendingTree, Inc. additionally owns manufacturers throughout the monetary sector — together with CompareCards and Value Penguin.
In addition to his multiple-decade profession at LendingTree, Lebda additionally co-founded a monetary companies platform for youngsters and households known as Tykoon in 2010. He beforehand labored as an auditor and guide for PriceWaterhouseCoopers.
“All of my ideas come from my own experiences and problems,” Lebda told The Wall Street Journal in a 2012 interview.
Lebda is survived by his spouse, Megan, and three daughters — Rachel, Abby and Sophia — LendingTree’s spokesperson informed The Associated Press. In an announcement, Megan Lebda mentioned her husband “was an amazing man with a heart so big it seemed to have room for everyone he met.”
“Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world,” she mentioned — including that his legacy will proceed each at LendingTree and in “the lives he touched.”