LendingTree, the prominent online lending marketplace, is mourning the unexpected death of its founder and chief executive, Doug Lebda, who died on October 12 in an all-terrain vehicle (ATV) accident on his family farm in North Carolina. He was 55.
The company confirmed the tragic news in a press release, expressing profound sorrow at the loss of a visionary leader whose mission reshaped the consumer finance landscape.
“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the LendingTree board said.
Transition and Leadership
In light of Lebda’s passing, LendingTree’s Board of Directors acted swiftly to fill the leadership void. Scott Peyree, the company’s president and chief operating officer, was immediately appointed as the new CEO, effective October 13. Steve Ozonian, the company’s lead independent director, will step in as chairman of the Board.
Peyree, in a statement, acknowledged the weight of his new role:
“The news of losing Doug was devastating. 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.”
The board reaffirmed its commitment to carrying forward Lebda’s vision and pledged to work closely with Peyree and the executive team during the transition.
A Career Built on Disruption
Lebda founded LendingTree in 1996, inspired by his own frustrations navigating the mortgage process. The firm launched nationally in 1998 and went public in 2000, later becoming independent again after being spun off from IAC in 2008.
Under his leadership, LendingTree expanded beyond mortgages into credit cards, insurance products, auto loans, and small-business finance, building a network of hundreds of financial partners.
Lebda also co-founded Tykoon, a platform aimed at helping families teach financial literacy and money management to children.
Before founding LendingTree, he worked as an auditor and consultant for PricewaterhouseCoopers (PwC).
Impact, Reaction, and Legacy
News of his death sent LendingTree’s stock sliding (drops of more than 4 % were reported). The business community responded with shock and sadness, praising Lebda’s entrepreneurial spirit and contributions to fintech.
His wife, Megan Lebda, in a heartfelt statement, described him as a generous, compassionate man whose energy and kindness left a mark on everyone he met. She noted that while their hearts were broken, they were grateful for the outpouring of support and affirmed that his legacy would endure in the lives he touched and the company he built.
Lebda is survived by Megan and their three daughters: Rachel, Abby, and Sophia.
Analysts noted that while Lebda’s loss is significant, the strong leadership team he cultivated—particularly Peyree—may help LendingTree navigate this difficult transition period.
A Company and Industry in Mourning
LendingTree, headquartered in Charlotte, North Carolina, was founded on the idea of democratizing access to financial products by enabling consumers to shop and compare offers from multiple lenders. The platform’s mission and reach have grown dramatically under Lebda’s guidance.
As the company and industry reflect on his passing, many will look back on Lebda’s legacy not only in terms of revenue and growth but as someone who championed financial transparency, consumer empowerment, and innovation.
“Doug’s dream was to give people better choice and clarity in financial decisions,” one board member said in the company’s announcement. “It’s a legacy we intend to honor every day moving forward.”
LendingTree has pledged to continue operations without disruption and to honor Lebda’s principles through ongoing investment in innovation, service, and integrity.
