TRAGEDY STRIKES: LendingTree Founder and CEO Doug Lebda, 55, Dies in Devastating ATV Accident, Leaving Behind a Legacy of Innovation and a Heartbroken Family
- LendingTree CEO Doug Lebda, 55, dies in ATV accident, leaving behind a wife and a legacy of transforming the financial services landscape
- Company shares plummet 9% following the announcement, extending a 10% slide over the past week
- Lebda’s wife, Megan, pays tribute to her husband, describing him as “an amazing man with a heart so big it seemed to have room for everyone he met”
Doug Lebda, the visionary founder and CEO of LendingTree, has died in a horrific ATV accident, leaving behind a devastated family and a legacy of innovation that transformed the financial services landscape. The 55-year-old entrepreneur’s death was announced by the company on Monday, sending shockwaves through the business world.
According to his wife, Megan Lebda, Doug was “an amazing man with a heart so big it seemed to have room for everyone he met”. She described him as “compassionate, generous, and endlessly curious about the world and the people around him”. Megan also revealed that her husband’s greatest joy was seeing others succeed, and that his kindness and generosity touched every single person who crossed his path.
Doug Lebda founded LendingTree in 1996 after struggling to obtain a mortgage and envisioning a digital marketplace where banks could compete to offer borrowers the best terms. The company launched online in 1998 and grew into one of the country’s largest financial comparison platforms, partnering with over 500 lenders nationwide.
Under Lebda’s leadership, LendingTree expanded its offerings beyond mortgages to include credit cards, auto loans, insurance, and small-business financing. His vision and innovation earned him a net worth of $467 million, but it was his kind heart and generosity that earned him the respect and admiration of his peers and loved ones.
“The news of losing Doug was devastating,” said Scott Peyree, the company’s president and COO, who has been appointed as the new CEO. “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.”
As the company mourns the loss of its beloved CEO, it has also announced that Steve Ozonian, a longtime director, will take over as chairman of the board. “The board will work closely with Scott and the leadership team to honour Doug’s vision,” Ozonian said. “We are committed to upholding his legacy and continuing the work he began with passion, integrity, and dedication.”
LendingTree’s shares fell 9% following the announcement, extending a 10% slide over the past week. However, the company’s legacy and impact on the financial services landscape will undoubtedly continue to be felt for years to come.