Doug Lebda, founder and CEO of LendingTree, died unexpectedly over the weekend in an all-terrain vehicle accident, the company announced Monday. He was 55 years old.
According to LendingTree, Lebda passed away Sunday. The firm described him as a “visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers.”
In the wake of the news, the company moved swiftly to fill the leadership gap: president and COO Scott Peyree was named president and CEO immediately, while longtime director Steve Ozonian became chairman of the board.
“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.”
Investors reacted sharply. LendingTree’s shares plunged nearly 9 percent Monday — falling from about $61 per share to roughly $56.91. The drop extended a decline that had already seen a 10 percent slide over the previous week. Trading was briefly halted pending confirmation of the news.
Lebda’s influence on the company was profound. He founded LendingTree in 1996 after struggling to secure a mortgage himself. He envisioned a digital marketplace where lenders would compete for borrowers — a concept that would later become a cornerstone of the fintech revolution.
LendingTree officially launched online in 1998, went public in 2000 under the ticker “TREE,” and under Lebda’s leadership steadily expanded its services to include credit cards, auto loans, insurance, small-business financing, and more. Today, the company partners with over 500 lenders across the country.
“The board will work closely with Scott and the leadership team to honor Doug’s vision,” Ozonian said. “We are committed to upholding his legacy and continuing the work he began with passion, integrity, and dedication.”
Born January 29, 1970, in Syracuse, New York, Lebda earned a bachelor’s degree from Bucknell University and an MBA from the University of Virginia’s Darden School of Business. Early in his career, he worked as an auditor at PricewaterhouseCoopers, where he became frustrated with how opaque and difficult the mortgage process was for everyday consumers — frustration that would ultimately fuel his mission.
Outside of LendingTree, Lebda was deeply involved in civic life in Charlotte and held board positions at various corporations and nonprofit organizations.
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