Doug Lebda, the visionary 55-year-old CEO and founder of LendingTree, unexpectedly died in an all-terrain vehicle accident over the weekend, prompting immediate leadership changes at the online loan platform and causing a dip in its stock.
Doug Lebda, 55, CEO and founder of LendingTree, passed away on Sunday in an all-terrain vehicle accident at a family farm in North Carolina, the company announced Monday. Lebda founded LendingTree in 1996 to simplify the loan shopping process, launching nationally in 1998 and becoming a public company in 2000. Under his leadership, LendingTree grew into a major online marketplace for various loans and financial products, also acquiring brands like CompareCards. His philosophy, "All of my ideas come from my own experiences and problems," guided his entrepreneurial spirit, which also extended to co-founding Tykoon, a financial platform for children. Following his death, Scott Peyree, COO and president, was appointed CEO, and Steve Ozonian became chairman of the board. LendingTree's shares fell over 4% after the news. Lebda is survived by his wife, Megan, and three daughters. His wife stated that his "legacy will continue both at LendingTree and in the lives he touched."
