NEW YORK — NEW YORK (AP) — LendingTree CEO and founder Doug Lebda died in an an all-terrain automobile accident over the weekend, the web loaning platform mentioned Monday.
In an organization announcement, LendingTree confirmed that Lebda unexpectedly died on Sunday and that its management “deeply mourns his passing” whereas extending condolences to the chief’s family members.
“Doug was a visionary chief whose relentless drive, innovation and keenness remodeled the monetary providers panorama, touching the lives of hundreds of thousands of shoppers,” LendingTree’s board of administrators mentioned in a press release. “His ardour will proceed to encourage us as we transfer ahead collectively.”
Scott Peyree, LendingTree’s chief working officer and president, has now been appointed CEO efficient instantly. And lead impartial director Steve Ozonian can even step into Lebda’s function as chairman of the board, the corporate mentioned.
Shares of Charlotte, North Carolina-based LendingTree fell greater than 2% by early afternoon buying and selling on Monday.
Lebda based LendingTree in 1996 — to “simplify the mortgage buying course of” after experiencing his personal frustrations when getting his first mortgage, LendingTree’s web site notes. The platform launched nationally in 1998 and have become a public firm in 2000. It was later acquired by web conglomerate IAC/InterActiveCorp, earlier than spinning off by itself once more in 2008.
Right this moment, LendingTree’s central on-line loaning market helps customers discover and examine loans for mortgages, bank cards, insurance coverage wants and extra. LendingTree, Inc. additionally owns manufacturers throughout the monetary sector — together with CompareCards and Worth Penguin.
Along with his multiple-decade profession at LendingTree, Lebda additionally co-founded a monetary providers platform for youngsters and households referred to as Tykoon in 2010. He beforehand labored as an auditor and advisor for PriceWaterhouseCoopers.
“All of my concepts come from my very own experiences and issues,” Lebda told The Wall Street Journal in a 2012 interview.
