LendingTree Founder, CEO Lebda Dies in Accident

LendingTree founder and CEO Doug Lebda died suddenly on Sunday, the company announced. (Chris Goodney/Bloomberg)

Key Points

• LendingTree founder Doug Lebda died Sunday at 55 in an all-terrain vehicle accident.
• Lebda established LendingTree in 1996, aiming to simplify financial decisions for consumers.
• Scott Peyree was named president and CEO, and Steve Ozonian became chairman, effective immediately.

LendingTree founder Doug Lebda, who started the online lender in the 1990s after a disappointing experience shopping banks for a mortgage, died Sunday in an accident involving an all-terrain vehicle.

The company’s board said in a statement it was deeply saddened by the death of Lebda, who was 55.

“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the board said. “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.”

Lebda was chairman and CEO of LendingTree. The statement said Scott Peyree, the chief operating officer and president, was named to be president and CEO effective immediately.

The board’s lead independent director, Steve Ozonian, was named chairman, effective immediately.

The board’s statement said it would work closely with Peyree and the leadership team to honor Lebda’s vision. “We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication,” it said.

Lebda based the company in Charlotte, N.C., aiming to give consumers access to best offers on loans, credit cards, insurance, and other financial products. It has a network of approximately 430 financial partners.

“The news of losing Doug was devastating,” Peyree said in a statement. “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.”

Write to Liz Moyer at liz.moyer@barrons.com