LendingTree said that Scott Peyree, the company’s Chief Operating Officer, has been appointed by the board to serve as the Chief Executive Officer, effective immediately.
LendingTree (TREE) announced on Monday that its Chief Executive Officer, Doug Lebda, passed away unexpectedly on Sunday in an all-terrain vehicle (ATV) accident.
LendingTree’s website noted that after launching the company nationally in July 1998, Lebda led it through the IPO in 2000, the dot-com meltdown of 2001, and a successful sale to IAC in 2003. From 2005 to 2008, he served as IAC’s President and Chief Operating Officer. In 2008, he joined the newly formed Tree.com, later rebranded as LendingTree, as it spun out from IAC as a separate public company.
“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,” the company’s board said.
The firm stated that Scott Peyree, the company’s Chief Operating Officer, has been appointed by the board to serve as the CEO, effective immediately.
Peyree joined LendingTree in 2018. According to the firm’s website, over 15 years ago, Peyree launched QuoteWizard.com to help consumers navigate the insurance landscape and compare pricing. Before that, he spent six years managing the operations of an online marketing firm, WorldClass Strategy.
Lebda had also served as the Chairman of the Board. The company said the board has appointed Lead Independent Director Steve Ozonian to serve as the Chairman, effective immediately. Ozonian joined the Board in 2008.
Retail sentiment on LendingTree remained unchanged in the ‘neutral’ territory compared to a day ago, with message volumes at ‘normal’ levels, according to data from Stocktwits. Shares of the company were down 2.3% in afternoon trading.
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