The CEO of loan marketplace Lending Tree died in an all-terrain vehicle crash on Oct. 12, the company announced in a news release.
Doug Lebda, 55, was at his family’s farm in North Carolina when the accident happened, The New York Times reported.
Lebda founded LendingTree in 1996 and took the company public in 2000. IAC acquired the company in 2003, but after five years, spun it off and Lebda took control again.
LendingTree’s Board of Directors released a statement, which read:
“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. Since founding LendingTree in 1996, Doug dedicated himself to building a company rooted in consumer empowerment, championing a mission to simplify financial decisions and fostering economic opportunity for all."
The company’s Chief Operating Officer and President, Scott Peyree, has been named the President and CEO, effective immediately, while the board’s chairman is now Steve Ozonian, who has been on the board since 2008, WSOC reported.
Lebda leaves behind his wife and three daughters, The New York Times reported.
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