A prominent finance CEO tragically passed away in a sudden quad bike incident on his family’s farm.
Doug Lebda, the founder and head of the financial platform LendingTree, lost his life during the weekend due to an ATV accident on his North Carolina farm, as confirmed by his company’s spokesperson.
Survived by his wife Megan and their three daughters Rachel, Abby, and Sophia, Megan expressed gratitude for the outpouring of love and support they have received worldwide, despite their hearts being shattered by the loss.
Following the untimely demise of the 55-year-old CEO, Scott Peyree, LendingTree’s chief operating officer and president, has been appointed as the new CEO, while Steve Ozonian, the lead independent director, will take on the role of chairman of the board, as officially announced by the company.
Mr. Lebda, with a net worth of $467 million (£352 million) at the time of his passing, founded LendingTree in 1996 with a mission to streamline the loan shopping process, driven by his personal experience of being denied his first mortgage. The company went public in 2000 and was later acquired by internet giant IAC for $726 million (£632 million).
Headquartered in Charlotte, North Carolina, LendingTree also owns various brands within the US financial sector but does not currently operate in the UK.
In a 2012 interview with The Wall Street Journal, Mr. Lebda shared that his business ideas stem from his own challenges and experiences.
The board of directors of LendingTree paid tribute to Doug as a visionary leader whose dedication, innovation, and enthusiasm revolutionized the financial services industry, impacting the lives of countless consumers.
Notable figures like former North Carolina governor Pat McCrory and Red Ventures co-founder Ric Elias praised Doug as a true friend, exceptional entrepreneur, and a driving force for excellence whose legacy will endure through those he inspired.
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