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LendingTree founder Doug Lebda's untimely death in an ATV accident has prompted a swift leadership transition, with Scott Peyree stepping into the CEO role. Lebda, a pioneer in online financial services, established LendingTree in 1996, driven by a personal mission to empower consumers with easier access to financial decisions. His innovative spirit shaped the company's growth into a significant online platform, connecting millions with various financial products. The company's board highlighted his transformative impact on the financial landscape. Peyree, with his extensive experience, is poised to continue Lebda's vision, ensuring a seamless transition and sustained commitment to the company's foundational principles.

LendingTree Mourns Founder Doug Lebda's Passing, Appoints New Leadership

In a somber announcement, LendingTree's board of directors confirmed the passing of its esteemed founder, chairman, and CEO, Doug Lebda, on Sunday, October 2025, following an all-terrain vehicle accident. Lebda, aged 55, was celebrated as a trailblazing leader whose dedication, foresight, and passion revolutionized the financial services industry, positively impacting countless consumers.

Immediately following this tragic news, Scott Peyree, who served as the company's president and chief operating officer, has been appointed as the new president and CEO. Concurrently, independent director Steve Ozonian, a board member since 2008, will assume the role of chairman.

Lebda embarked on his entrepreneurial journey in 1996 with the creation of LendingTree. His motivation stemmed from a personal struggle with the complexities of securing a mortgage, which fueled his ambition to demystify financial choices for the public. Under his guidance, the Charlotte-based firm blossomed into a prominent online financial marketplace, linking customers with offerings from approximately 430 financial institutions. LendingTree's journey included a public offering in 2000, an acquisition by IAC/InterActiveCorp in 2003, and ultimately, its re-emergence as an independent entity in 2008. Before founding LendingTree, Lebda honed his skills as an auditor and consultant at PriceWaterhouseCoopers (PwC).

Peyree expressed his profound sorrow over Lebda's death but affirmed his commitment to upholding Lebda's legacy. He emphasized the strength of the management team Lebda assembled, stating, "I look forward to leading our team and continuing our shared vision with Doug into the future." Analysts from Keefe, Bruyette & Woods acknowledged the significant loss to the company but voiced confidence in Peyree's qualifications to navigate this challenging period. Peyree joined LendingTree in 2018 through the QuoteWizard acquisition, where he served as CEO, and had been COO and President of Marketplaces since July 2023.

Reflections on a Visionary's Legacy and Future Continuity

The sudden passing of Doug Lebda marks a significant loss not only for LendingTree but for the entire financial technology sector. His innovative approach to making financial services accessible transformed how millions approach major financial decisions, embodying a spirit of consumer empowerment that is increasingly vital today. This event highlights the precarious nature of life but also underscores the importance of resilient leadership and succession planning within organizations. The rapid appointment of Scott Peyree as CEO, a seasoned executive within the company, demonstrates a commitment to continuity and stability, which is crucial during times of unexpected change. Lebda's vision, deeply embedded in LendingTree's operational ethos, is set to continue through the capable hands of his chosen successors. This transition reminds us that true leadership lies not just in founding and building, but also in cultivating a robust team capable of carrying the torch forward, ensuring that the founder's pioneering spirit endures beyond their presence.