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NEW YORK (AP) — LendingTree CEO and founder Doug Lebda died in an an all-terrain car accident over the weekend, the web loaning platform stated Monday. He was 55.
In an organization announcement, LendingTree confirmed that Lebda died on Sunday and that the corporate was greiving his sudden loss of life. A spokesperson stated the accident occured at a household farm in North Carolina.
“Doug was a visionary chief whose relentless drive, innovation and fervour remodeled the monetary companies panorama, touching the lives of tens of millions of shoppers,” LendingTree’s board of administrators stated in a ready assertion. “His ardour will proceed to encourage us as we transfer ahead collectively.”
Scott Peyree, LendingTree’s chief working officer and president, has now been appointed CEO efficient instantly. And lead impartial director Steve Ozonian may also step into Lebda’s position as chairman of the board, the corporate stated.
Shares of Charlotte, North Carolina-based LendingTree fell greater than 4% by afternoon buying and selling on Monday.
Lebda based LendingTree in 1996 — to “simplify the mortgage buying course of” after experiencing his personal frustrations when getting his first mortgage, LendingTree’s web site notes. The platform launched nationally in 1998 and have become a public firm in 2000. It was later acquired by web conglomerate IAC/InterActiveCorp, earlier than spinning off by itself once more in 2008.
Immediately, LendingTree’s central on-line loaning market helps customers discover and examine loans for mortgages, bank cards, insurance coverage wants and extra. LendingTree, Inc. additionally owns manufacturers throughout the monetary sector — together with CompareCards and Worth Penguin.
Along with his multiple-decade profession at LendingTree, Lebda additionally co-founded a monetary companies platform for kids and households referred to as Tykoon in 2010. He beforehand labored as an auditor and marketing consultant for PriceWaterhouseCoopers.
“All of my concepts come from my very own experiences and issues,” Lebda informed The Wall Road Journal in a 2012 interview.
Lebda is survived by his spouse, Megan, and three daughters — Rachel, Abby and Sophia — LendingTree’s spokesperson informed The Related Press. In a press release, Megan Lebda stated her husband “was a tremendous man with a coronary heart so huge it appeared to have room for everybody he met.”
“Our hearts are damaged, however we’re additionally deeply grateful for the love and help that has poured in from the world over,” she stated — including that his legacy will proceed each at LendingTree and in “the lives he touched.”
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