LendingTree founder and CEO Doug Lebda tragically died in an all-terrain vehicle (ATV) accident at the age of 55.
According to CNN, the online loaning platform on Monday, October 13, confirmed Ledba's death, saying that the chief executive of the company died tragically in the ATV accident on his family farm in North Carolina over the weekend.
LendingTree stated, “Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers.”
“His passion will continue to inspire us as we move forward together. We extend our deepest sympathies to Doug’s family and loved ones during this difficult time,” the board of directors added.
As per the company’s website and Lebda’s biography, he founded a marketplace for financial instruments, including mortgages, in 1996 after “experiencing the frustrations and complexities of getting his first mortgage.”
He launched LandingTree in 1998 and went public two years later in 2000.
The company also announced that chief operating officer and president of LendingTree, Scott Peyree, will be immediately appointed as the new CEO, while lead independent director Steve Ozonian will take Lebda’s role as chairman of the board.
Moreover, the shares of the North Carolina-based company fell more than 4% by afternoon trading after the company announcement on Monday.
