Doug Lebda, the founder and CEO of LendingTree, tragically passed away at the age of 55 in an ATV accident. The online lending platform confirmed his death on Monday, stating that the incident occurred at a family farm in North Carolina over the weekend.
Remembering Doug Lebda
LendingTree expressed profound sorrow over Lebda’s unexpected passing. A company spokesperson reflected on his visionary leadership and dedication, which significantly influenced the financial services landscape, aiding millions of consumers.
The board of directors paid tribute to his impact, saying, “His passion will continue to inspire us as we move forward together.”
Leadership Transition at LendingTree
In the wake of Lebda’s death, Scott Peyree, previously the chief operating officer and president, has been appointed as the new CEO effective immediately. Additionally, Steve Ozonian is set to assume the role of chairman of the board.
Market Reaction
Following the news of Lebda’s untimely death, shares of LendingTree, based in Charlotte, North Carolina, saw a decline of over 4% during afternoon trading on Monday.
Legacy of LendingTree
Doug Lebda founded LendingTree in 1996 to simplify the mortgage shopping process, inspired by his personal challenges in obtaining his first mortgage. The platform launched nationally in 1998 and went public in 2000.
Over the years, LendingTree has become a prominent online marketplace, specializing in various financial products, including mortgages, credit cards, and insurance. The company also owns several brands like CompareCards and Value Penguin.
Contributions Beyond LendingTree
Beyond his role at LendingTree, Lebda co-founded Tykoon in 2010. This financial service platform aims to educate children and families about managing money. Prior to his entrepreneurial ventures, Lebda worked as an auditor and consultant for PriceWaterhouseCoopers.
Personal Reflections and Surviving Family
Doug Lebda is survived by his wife, Megan, and their three daughters, Rachel, Abby, and Sophia. In a heartfelt statement, Megan described him as “an amazing man with a heart so big it seemed to have room for everyone he met.” She expressed gratitude for the outpouring of love and support during this difficult time.
Megan concluded that Lebda’s legacy would endure, both through LendingTree and the many lives he positively impacted.
