LendingTree Founder, Chairman and CEO Doug Lebda, was killed in an ATV accident on Sunday, the online lending giant announced on Monday.
Lebda founded LendingTree in 1996.
According to The Daily Mail, Lebda, 55, died in an accident on his family farm in North Carolina.
Doug Lebda was reportedly worth $305 million at the time of his death.
“LendingTree announced that Doug Lebda, the Company’s Chairman and Chief Executive Officer, passed away unexpectedly yesterday in an all-terrain vehicle accident. The Board of Directors and the entire LendingTree management team deeply mourns his passing and extends sincere and heartfelt condolences to his family,” the company said in a statement.
“Scott Peyree, the Company’s Chief Operating Officer and President, has been appointed by the Board to serve as the Company’s President and Chief Executive Officer, effective immediately,” they said.
“Lead Independent Director, Steve Ozonian, has been appointed by the Board to serve as the Chairman of the Board, effective immediately. Mr. Ozonian joined the Board in 2008,” the company said.
The Board of Directors released a statement on Lebda’s passing:
“We are deeply saddened by the sudden passing of Doug. Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers. Since founding LendingTree in 1996, Doug dedicated himself to building a company rooted in consumer empowerment, championing a mission to simplify financial decisions and fostering economic opportunity for all.
Doug’s unwavering commitment to our team, customers and partners shaped LendingTree’s culture and values and permanently changed the way in which consumers access financial products. His passion will continue to inspire us as we move forward together. We extend our deepest sympathies to Doug’s family and loved ones during this difficult time.
The Board will work closely with Scott and the leadership team to honor Doug’s vision. We are committed to upholding his legacy and continuing the work he began with passion, integrity and dedication.”
Doug Lebda is survived by his wife and three daughters.
“Our hearts are broken, but we are also deeply grateful for the love and support that has poured in from across the world,” Lebda’s wife Megan, 37 said.
“Doug’s legacy will continue in the company he built, the lives he touched, and the example he set for all of us to lead with kindness, courage, and compassion,” she said.
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