Doug Lebda, founder and CEO of LendingTree, died in an all-terrain vehicle accident on Sunday, the Charlotte-based fintech company announced on Monday. Lebda, who established LendingTree in 1996, was 56. Known for connecting borrowers with lenders for mortgages, credit cards, and personal loans, LendingTree has grown into a notable presence in the online financial services sector, employing nearly 1,000 people, with a significant footprint in Charlotte, reports the Charlotte Observer.
The company's board praised Lebda as a visionary whose innovations reshaped the industry and affected millions of customers. In a statement, LendingTree's directors described his influence as profound and pledged to uphold his legacy with "passion, integrity, and dedication." They said he "permanently changed the way in which consumers access financial products." Former North Carolina Gov. Pat McRory said Lebda was a personal friend. "Doug was one of the greatest American entrepreneurs of his generation," McRory told WCNC. "We've lost a giant at a very young age."
Lebda co-founded Tykoon, an allowance-management financial platform for children, in 2010, the Wall Street Journal reports. Following Lebda's death, the LendingTree board appointed Scott Peyree, the company's chief operating officer, as the new president and CEO, effective immediately. Steve Ozonian, a board member since 2008, was named chairman.
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