Doug Lebda
LendingTree Press Kit

LendingTree, the pioneering online lending marketplace, was thrown into turmoil on Monday after the sudden death of its founder and CEO, Doug Lebda.

The visionary leader was killed in an all-terrain vehicle accident over the weekend, a devastating event that sent the company's shares tumbling nearly 9%.

A Devastating Loss

The Charlotte-based company announced on Monday that Lebda, 55, died on Sunday, the New York Post reported.

In a statement, the organisation described him as a 'visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers'.

Leadership Transition and Market Reaction

The board of directors acted swiftly, appointing President and Chief Operating Officer Scott Peyree as the new president and CEO, effective immediately. Long-time director Steve Ozonian was also named chairman of the board to help guide the company forward.

'The news of losing Doug was devastating', Peyree said.

'But one of the most immediate impacts of his legacy is the strong management team he put in place at LendingTree', he continued. 'I look forward to leading our team and continuing our shared vision with Doug into the future'.

Following the announcement, trading in LendingTree's stock was briefly halted. When it resumed, shares fell from nearly $61 to roughly $56.91, extending a 10% slide from the previous week. The shares have traded between $33.50 and $77.35 over the past 52 weeks.

A Legacy of Innovation

Lebda founded LendingTree in 1996, an idea born from his own frustrating and cumbersome experience trying to obtain a mortgage. He envisioned a revolutionary digital marketplace where banks would be forced to compete for customers, ultimately offering borrowers the best possible terms.

Born in Syracuse on 29 January 1970, Lebda earned a bachelor's degree from Bucknell University and an MBA from the University of Virginia's Darden School of Business.

His career began as an auditor at PricewaterhouseCoopers, where the opaque nature of the mortgage process first inspired his entrepreneurial journey.

Building a Fintech Giant

The company officially launched online in 1998, predating the modern fintech boom by nearly two decades. It went public on the Nasdaq in 2000 under the ticker symbol TREE, was later acquired by IAC/InterActiveCorp, and was eventually spun out again in 2008.

Under Lebda's leadership, the company transformed from a mortgage-focused platform into one of the country's largest financial comparison services. He expanded its offerings to include personal loans, credit cards, auto loans, insurance, and small-business financing.

The company now partners with more than 500 lenders nationwide, a testament to the scale of Lebda's original vision.

Honouring a Vision

'The board will work closely with Scott and the leadership team to honour Doug's vision', said new chairman Steve Ozonian in the company's statement.

'We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication'.

Beyond his corporate success, Lebda was also active in Charlotte's civic and philanthropic community and served on several corporate boards.

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