Charlotte, N.C — The financial technology industry is mourning the sudden death of Doug Lebda, founder, chairman, and chief executive of LendingTree, who was killed in an ATV accident on Sunday.
The company announced his passing in a statement, describing Lebda as a “visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers.”
Leadership Transition
Following the announcement, LendingTree confirmed that Scott Peyree, the company’s president and chief operating officer, has been appointed as the new CEO, effective immediately. Steve Ozonian, lead independent director, will assume the role of chairman of the board.
Shares of the Charlotte-based company fell more than 4% in Monday trading as news of Lebda’s death spread.
A Pioneer in Online Lending
Lebda founded LendingTree in 1996 after struggling with the complexities of securing his first mortgage. His idea — to create a digital marketplace where banks and lenders compete for consumers’ business — helped revolutionize the way Americans shop for financial products.
The platform launched nationally in 1998, went public in 2000, and later became part of IAC/InterActiveCorp before spinning off again in 2008. Today, LendingTree connects millions of users with loans, credit cards, insurance, and other financial services, and owns brands including CompareCards and ValuePenguin.
Tributes and Legacy
Lebda’s wife, Megan, released a statement saying: “Doug was an amazing man with a heart so big it seemed to have room for everyone he met. Our hearts are broken, but we are deeply grateful for the love and support that has poured in from across the world.”
He is survived by his wife and three daughters — Rachel, Abby, and Sophia.
Industry peers and colleagues have praised Lebda’s role as a fintech pioneer, noting that his vision helped democratize access to credit and financial services.
Outlook
While LendingTree faces the challenge of moving forward without its founder, the company emphasized that Lebda’s legacy of innovation and consumer empowerment will continue to guide its mission.
His sudden passing marks the end of nearly three decades of leadership that reshaped digital finance and left a lasting imprint on the industry.
Lendingtree Picture by Roblenderman
Sources: LendingTree corporate statement; Associated Press; Yahoo Finance; CBS News.
