The Liberty Daily 
(The Epoch Times)—LendingTree CEO Doug Lebda, also the company’s founder and board chair, died in an all-terrain vehicle accident on Oct. 12, the Charlotte, North Carolina-based company announced in a statement on Oct. 13.
“We are deeply saddened by the sudden passing of Doug,” LendingTree’s board wrote in the statement.
“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers. Doug dedicated himself to building a company rooted in consumer empowerment, championing a mission to simplify financial decisions and fostering economic opportunity for all.”
LendingTree’s board announced that Scott Peyree, president and chief operating officer, had assumed the role of CEO, while Steve Ozonian, lead independent director, was appointed as chairman of the board. Ozonian joined the LendingTree’s board as lead director in 2008.
Lebda, 55, founded online lending platform LendingTree in 1996 after becoming frustrated with the difficulties involved in obtaining a mortgage, according to the company’s website.
Prior to the widespread prevalence of the internet, customers had to visit multiple banks in order to shop for rates and secure approval for financing. Lebda’s vision was to create a central online marketplace where customers could shop for loans, and banks would compete for their business, LendingTree said.
After a national rollout in 1998, Lebda ushered the company through an IPO in 2000.
LendingTree was acquired by IAC/InterActiveCorp. in 2003. Lebda served as IAC’s president and chief operating officer from 2005 to 2008 and was later named LendingTree’s president when the company was spun off from IAC in August 2008.
Lebda enrolled in the University of Virginia Darden School of Business in 1997 but left to run his newly formed company. He returned to the college in 2012 and received a Master of Business Administration in 2014. Prior to founding LendingTree, Lebda worked at PricewaterhouseCoopers as an auditor and consultant.
“Doug’s unwavering commitment to our team, customers and partners shaped LendingTree’s culture and values and permanently changed the way in which consumers access financial products,” the company’s board said.
“The board will work closely with Scott and the leadership team to honor Doug’s vision. We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication.”
Peyree joined LendingTree in 2023 after spending nearly 20 years running QuoteWizard, an online insurance quote-comparison marketplace LendingTree acquired for $370 million in October 2018.
“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. I look forward to leading our team and continuing our shared vision with Doug into the future.”
LendingTree’s stock price hit an intraday low of $51.8 on the news but has since recovered to north of $54 in midday trading.
The company’s shares began trading on the Nasdaq exchange in August 2008 at $8. Its online marketplace services have evolved to include home, business, auto, and personal loans; debt consolidation; credit score insights; and rate comparisons for insurance, credit cards, checking and savings accounts, and certificates of deposit.
