Doug Lebda, the founder, chairman and CEO of online loaning platform LendingTree, died on Sunday in an in all-terrain vehicle accident, the company announced.
He was 55 years old, The Wall Street Journal reports.
“We are deeply saddened by the sudden passing of Doug,” LendingTree’s board of directors said in a statement. “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.
“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. 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 statement added.
LendingTree COO and President Scott Peyree was appointed by the Board to serve as the company’s CEO, effective immediately, according to the release.
“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.”
In addition, LendingTree lead independent director Steve Ozonian has been appointed by the Board to serve as Chairman of the Board, effective immediately.
Lebda founded LendingTree “after experiencing the frustrations and complexities of getting his first mortgage,” according to the company’s website. The Charlotte, North Carolina-based lender launched nationally in 1998.
According to Steelers Depot, Lebda’s impact extended beyond fintech. In 2019, he became a minority owner of the Pittsburgh Steelers after NFL rules required David Tepper to divest his stake.
In addition, Lebda in 2010 co-founded Tykoon, a financial services platform for children and families, according to AP. He also previously worked as an auditor and consultant for PriceWaterhouseCoopers, an international professional services network.
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