LendingTree CEO Doug Lebda has tragically died in an ATV accident in North Carolina. The company has named a new CEO following his death.
LendingTree founder Doug Lebda dies: Company loses visionary
The founder and CEO of online lending platform LendingTree, Doug Lebda, died in an ATV accident over the weekend. He was 55, the company said Monday.
The incident occurred on the family farm in North Carolina, according to a LendingTree spokesperson. The company expressed deep sadness over the sudden death of its founder.
“Doug was a visionary whose energy, innovation and passion changed the financial landscape, touching the lives of millions of people,” the board of directors said in a statement.
New leadership
After Lebda’s death, CEO duties immediately passed to Scott Peary, who previously served as the company’s COO and president. In addition, Steve Ozonian, an independent director on the board, became the new chairman.
Shares of LendingTree (NASDAQ: TREE) fell more than 4% on Monday after news of the CEO’s death.
A visionary who changed the credit market
Doug Lebda founded LendingTree in 1996 when he was struggling to get his own mortgage. His goal — “to simplify the process of finding credit” — has grown into a full-fledged fintech company.
It went national in 1998, and went public in 2000. The company became independent again in 2008 after being acquired by IAC.
Today, LendingTree helps users compare loans, mortgages, credit cards, and insurance, and owns the CompareCards and ValuePenguin brands.
A man with ideas born from experience
In 2010, Lebda also co-founded Tykoon, a platform for financial education for children and families. Before that, he worked as an auditor and consultant at PriceWaterhouseCoopers.
“All of my ideas are born from personal problems and experiences,” he told The Wall Street Journal in 2012.
Legacy and family
Lebda is survived by his wife, Megan, and three daughters, Rachel, Abby, and Sophia.
“He had such a big heart that seemed to embrace everyone he met,” Megan Lebda said in a statement. “Our hearts are broken, but we are grateful for the love and support from around the world.”
