A prominent finance executive passed away in a tragic accident involving a quad bike on his family’s farm. Doug Lebda, the founder and CEO of LendingTree, a financial platform, lost his life over the weekend in an ATV incident on his North Carolina farm, as confirmed by his company. The 55-year-old is survived by his wife Megan and their three daughters, Rachel, Abby, and Sophia. Megan expressed the family’s gratitude for the outpouring of support and love received from around the globe.
Scott Peyree, the COO and president of LendingTree, has been appointed as the new CEO following Lebda’s untimely death, with Steve Ozonian, the lead independent director, stepping in as the chairman of the board. Lebda, with a net worth of $467 million (£352 million), established LendingTree in 1996 after facing challenges securing his first mortgage. The company, headquartered in Charlotte, North Carolina, became a public entity in 2000 and was later acquired by IAC for $726 million (£632 million).
Despite not currently operating in the UK, LendingTree owns various brands in the American financial sector, such as CompareCards and Value Penguin. Reflecting on his entrepreneurial journey, Lebda shared that his business ideas stem from personal experiences and challenges. The board of directors praised Lebda as a visionary leader who revolutionized the financial services industry, impacting millions of consumers.
Tributes poured in from figures like Pat McCrory, former North Carolina governor, and Ric Elias, co-founder of Red Ventures, who hailed Lebda as a remarkable entrepreneur and leader. Lebda’s legacy lives on through his contributions and the inspiration he instilled in those around him.