LendingTree Inc. (NASDAQ: TREE), the Charlotte, North Carolina-based online financial platforms, announced that Chairman and CEO Doug Lebda died yesterday in an all-terrain vehicle accident. He was 55 years old.
Scott Peyree, the company’s chief operating officer and president, was appointed by the board of directors to serve as the company’s president and CEO while Steve Ozonian, the lead independent director, was named chairman of the board.
Lebda founded LendingTree in 1996 after going through difficulties trying to secure his first mortgage. He led the company through a successful initial public offering in 2000 and coordinated its sale to IAC/InterActiveCorp in 2003. From 2005 to 2008, he served as IAC’s president and chief operating officer. After five years, IAC spun off Tree.com as the parent company of several real estate and financial brands, with Lebda in the leadership role again. In 2015, Tree.com rebranded as LendingTree.
“Doug’s unwavering commitment to our team, customers and partners shaped LendingTree’s culture and values and permanently changed the way in which consumers access financial products,” said the company’s board in a statement. “His passion will continue to inspire us as we move forward together. We extend our deepest sympathies to Doug’s family and loved ones during this difficult time. The board will work closely with Scott and the leadership team to honor Doug’s vision. We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication.”
