LendingTree founder and CEO Doug Lebda dies in ATV accident

Doug Lebda, Visionary Founder and CEO of LendingTree, Passes Away in ATV Accident

The financial industry mourns the loss of Doug Lebda, the founder and CEO of LendingTree, who tragically passed away in an ATV accident on Sunday. LendingTree, the online loan marketplace company, announced this devastating news to the public.

“Doug was a visionary leader whose relentless drive, innovation, and passion transformed the financial services landscape, touching the lives of millions of consumers,” expressed LendingTree’s board of directors in a statement released on Monday.

Lebda established LendingTree in 1996 with the goal of simplifying the loan shopping and application process. The company officially launched in 1998 and went public in 2000, just two years after its inception. LendingTree’s platform assists users in comparing mortgages, credit cards, insurance, and other financial products.

Following an acquisition by internet conglomerate IAC/InterActiveCorp, LendingTree later became an independent entity again in 2008.

In light of Lebda’s untimely passing, Scott Peyree, the current chief operating officer and president of LendingTree, will step into the roles of president and CEO. Additionally, Steve Ozonian, the lead independent director on the company’s board, will assume the position of chairman of the board. Both transitions in leadership are effective immediately, as confirmed by LendingTree.

Prior to his groundbreaking work with LendingTree, Lebda, who had a background in auditing and consulting at PriceWaterhouseCoopers, co-founded Tykoon in 2010. Tykoon is a financial services platform designed for children and families.

In a 2012 interview with the Wall Street Journal, Lebda shared, “All of my ideas come from my own experiences and problems.”

This story is developing and will be updated as more information becomes available.