Oct. 13 at 5:37 PM
LendingTree shares fell Monday following the unexpected death of founder, chairman, and CEO Doug Lebda in an off-road vehicle accident.
The online lending marketplace announced that Scott Peyree, previously COO and president, has been appointed chairman and CEO effective immediately. Steve Ozonian, the company’s lead independent director since 2008, was named chairman of the board.
The board expressed deep sorrow over Lebda’s passing, calling him “a visionary leader whose relentless drive, innovation, and passion transformed financial services and touched millions of lives.”
Lebda founded LendingTree in 1996 to simplify consumer financial decisions, guiding the company into a major player connecting borrowers with financial product providers.
Ozonian thanked Peyree for his leadership and expressed full confidence in his ability to carry LendingTree’s mission forward.
$TREE