Scott Peyree, the company’s president and chief operating officer, has been appointed as president and CEO, effective immediately. Independent director Steve Ozonian, who joined the board in 2008, will assume the role of chairman.
Lebda, 55, founded LendingTree in 1996, driven by frustration with his own mortgage experience and a desire to simplify financial decisions for consumers. He built “a company rooted in consumer empowerment, championing a mission to simplify financial decisions and fostering economic opportunity for all,” the board stated.
Under his leadership, the Charlotte-based company grew into a major online financial platform, connecting customers with offers from roughly 430 financial partners. LendingTree went public in 2000, was acquired by IAC/InterActiveCorp in 2003 and later spun out as a separate entity in 2008.
Before founding LendingTree, Doug worked as an auditor and consultant for PriceWaterhouseCoopers (PwC).
“The news of losing Doug was devastating. But one of the most immediate impacts of his legacy is the strong management team he put in place at LendingTree. I look forward to leading our team and continuing our shared vision with Doug into the future,” Peyree said in a statement.
Analysts at Keefe, Bruyette & Woods said in a report that “while Doug’s passing is clearly a meaningful loss for the company, we are confident that Scott Peyree has the right qualifications to step into the CEO role during this difficult transition.
“Mr. Peyree has been with LendingTree since 2018, having joined the company from the QuoteWizard acquisition, where he served as CEO. Mr. Peyree has served as COO and President of Marketplaces since July 2023.”