(NewsNation) — LendingTree CEO and founder Doug Lebda has died in an all-terrain vehicle accident, the online loaning company said.
In a company announcement, LendingTree confirmed Lebda unexpectedly died Sunday in the accident on his family’s North Carolina farm. He was 55, according to The New York Times.
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“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” the company’s board said in a statement on Monday. “His passion will continue to inspire us as we move forward together.”
Scott Peyree, LendingTree’s chief operating officer and president, has now been appointed CEO effective immediately.
According to his biography on LendingTree’s website, Lebda founded the company back in 1996 after a bad experience trying to get a mortgage for his first home and wanting to make the process simpler.
He is survived by his wife and their three daughters.
