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LendingTree, Inc. introduced Monday its founder and CEO Doug Lebda died unexpectedly in an all-terrain car accident over the weekend.
The board has appointed LendingTree’s Chief Working Officer and President, Scott Peyree, to succeed Lebda, efficient instantly.
“We are deeply saddened by the sudden passing of Doug. Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the board of administrators mentioned in an announcement.
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The board mentioned Lebda “dedicated himself to building a company rooted in consumer empowerment, championing a mission to simplify financial decisions and fostering economic opportunity for all” since its founding in 1996.
Douglas “Doug” Lebda, chief govt officer of LendingTree Inc., pauses throughout a Bloomberg Tv interview in New York, U.S., on Tuesday, March 8, 2016. (Chris Goodney/Bloomberg by way of Getty Photographs / Getty Photographs)
LendingTree is likely one of the nation’s largest on-line monetary platforms, offering presents for loans, bank cards, insurance coverage, and extra via a community of roughly 430 monetary companions. Lebda, who graduated from Bucknell College and earned his MBA from the College of Virginia’s Darden College of Enterprise, was with the corporate for 26 years.
He based the corporate with the aim of simplifying the loan-shopping course of by creating an internet site that took the legwork out of operating to a number of banks for info.
“Instead of physically going to multiple banks, customers could go to a website where the banks would compete for their business,” LendingTree’s web site reads.
After launching nationally in July 1998, he led LendingTree via its IPO in 2000, the dot-com meltdown of 2001 and a sale to IAC/InterActiveCorp in 2003.
Between 2005 and 2008, Lebda served as IAC’s President and Chief Working Officer, and in 2008, joined the newly fashioned Tree.com, which rebranded as LendingTree, because it spun out from IAC as a separate public firm. Earlier than the of founding LendingTree, Lebda labored as an auditor and advisor for PriceWaterhouseCoopers.
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In an announcement, Peyree mentioned Lebda’s passing was devastating, “but one of the most immediate impacts of his legacy is the strong management team he put in place at LendingTree. I look forward to leading our team and continuing the shared vision Doug and I worked toward for the future.”
The board mentioned it is going to work carefully with Peyree to honor Lebda’s imaginative and prescient, emphasizing that the corporate is “committed to upholding his legacy and continuing the work he began with passion, integrity, and dedication.”
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Lead impartial director, Steve Ozonian, will function the chairman of the board efficient instantly. Ozonian joined the Board in 2008.
Ozonian thanked Peyree for his “outstanding commitment and focus” on the firm and expressed confidence in his “ability to continue leading LendingTree into the future.”
Buyer utilizing a bank card. (Robert Nickelsberg/Getty Photographs / Getty Photographs)
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