Doug Lebda, chief executive officer and president of LendingTree, an online lending marketplace, died Sunday following an all-terrain vehicle accident on his family’s North Carolina farm, according to a company spokeswoman. He was 55 years old.
LendingTree, founded by Mr. Lebda nearly 30 years ago, has named its chief operating officer, Scott Peyree, as its new chief executive.
“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the company’s board of directors said in a statement.
Mr. Lebda started LendingTree in 1996 after a bad experience trying to get a mortgage for a home in Pittsburgh. He founded the company in Charlotte, North Carolina, and quickly made the city his home, recalls Pat McCrory, former Charlotte mayor and North Carolina governor.
“He loved talking politics and I loved talking politics and we became a good partner,” said Mr. McCrory, who served on the LendingTree board before becoming governor of North Carolina. He recalled that Mr. Lebda had resisted the temptation to relocate the company to other cities and commended him for his contribution to entrepreneurship in the state.
LendingTree went public during the dot-com boom and was later acquired by IAC in 2003, bringing Mr. Lebda to New York. Five years later, IAC spun off the company, allowing Mr. Lebda to take over management.
A football fan, Mr. Lebda was also a minority owner of his beloved Pittsburgh Steelers.
Mr Peyree described the news of Mr Lebda’s death as “devastating”.
“I look forward to leading our team and continuing our shared vision with Doug into the future,” he said in a statement.
Mr. Lebda is survived by his wife, Megan, and three daughters, Rachel, Abby and Sophia.
“Our hearts are broken, but we are also deeply grateful for the love and support that has come to us from around the world,” Ms. Lebda said in a statement. “Doug’s legacy will live on in the business he built, in the lives he touched and in the example he set for all of us with kindness, courage and compassion.
