In a tragic turn of events, Doug Lebda, the visionary founder, Chairman, and CEO of LendingTree, lost his life in an ATV accident this past Sunday, as announced by the prominent online lending platform on Monday.
Lebda established LendingTree in 1996, revolutionizing the way consumers approach lending by providing competitive rates.
Reports from The Daily Mail indicate that the accident took place on his family farm in North Carolina, at the age of 55.
At the time of his passing, Lebda’s net worth was estimated at an impressive $305 million.
“LendingTree mourns the unexpected demise of Doug Lebda, our esteemed Chairman and Chief Executive Officer, who passed away due to an all-terrain vehicle mishap yesterday. Our Board of Directors, alongside the entire LendingTree management team, is profoundly saddened and offers heartfelt condolences to his family,â the company stated in an official release.
“Effective immediately, Scott Peyree, the companyâs Chief Operating Officer and President, has been appointed by the Board to assume the role of President and Chief Executive Officer,â they added.
“Additionally, Lead Independent Director, Steve Ozonian, has been entrusted by the Board with the role of Chairman,â the announcement continued. Ozonian has been part of the Board since 2008.
The Board of Directors shared their collective sorrow in a statement:
“We are heartbroken by the sudden loss of Doug. A trailblazing leader, his remarkable drive, creativity, and fervor reshaped the financial services industry, impacting countless consumers. Since founding LendingTree, Doug championed a mission of consumer empowerment, simplifying financial decisions and creating economic opportunities for many.
His steadfast commitment to our team, customers, and partners not only defined the culture and values of LendingTree but also transformed consumer access to financial products. Doug’s legacy will forever inspire us as we continue moving forward. Our sincere condolences go out to Dougâs family and friends during these trying times.
The Board stands united in its commitment to Scott and the leadership team to uphold Dougâs vision. We are dedicated to honoring his remarkable legacy through our ongoing efforts, driven by passion, integrity, and dedication.”
Survived by his wife and three daughters, Doug leaves behind a legacy that transcends his successes.
“Our hearts are shattered, but we are immensely grateful for the outpouring of love and support from around the world,â Megan, Dougâs wife, expressed.
“His legacy will persist in the company he built, in the lives he touched, and in the example he set for us to live with kindness, courage, and compassion,” she added.
