LendingTree founder and CEO Doug Lebda unexpectedly died Oct. 12 in a North Carolina all-terrain vehicle accident. The board named COO Scott Peyree as the new CEO and vowed to honor Lebda’s vision.
LendingTree, the online loan marketplace Lebda founded in 1996, announced Monday that its chairman and CEO, Doug Lebda, died Sunday at age 55 after an all-terrain vehicle crash on his family farm in North Carolina. The company’s board expressed deep sorrow and immediately appointed LendingTree President and COO Scott Peyree as the new chief executive, with longtime director Steve Ozonian becoming board chairman. Below are key facts, a timeline of Lebda’s career, reactions, and the implications of his sudden death.
ATV Accident Claims Life of CEO Doug Lebda
On Sunday, Oct. 12, 2025, Doug Lebda was involved in a fatal ATV (all-terrain vehicle) collision on his rural North Carolina property. LendingTree announced the next day that Lebda had died “unexpectedly” from injuries sustained in the accident. He was 55 years old. Company statements noted that Lebda was at his family’s North Carolina farm when the crash occurred. LendingTree confirmed via PR that Lebda “passed away unexpectedly” in the accident. (No foul play or third party was reported; authorities have not released further details.) News outlets reported that he is survived by his wife, Megan, and their three daughters.
In a public statement, the LendingTree board praised Lebda as “a visionary leader whose relentless drive, innovation, and passion transformed the financial services landscape, touching the lives of millions of consumers”. It noted that since founding the company in 1996, he had “dedicated himself to building a company rooted in consumer empowerment,” simplifying financial decisions for everyday people. The board extended its “deepest sympathies to Doug’s family and loved ones during this difficult time”. LendingTree’s officials and advisors characterized the news as “devastating,” but said Lebda had built a strong leadership team to carry forward the company’s mission.
Leadership Succession and Board Actions
Immediately following Lebda’s death announcement, LendingTree’s Board of Directors named Chief Operating Officer Scott Peyree as the new President and CEO, effective immediately. Lead independent director Steve Ozonian (a Board member since 2008) was appointed board chairman. The board’s statement said it would “work closely with Scott and the leadership team to honor Doug’s vision,” and vowed to “uphold his legacy and continue the work he began” with passion and integrity.
Scott Peyree, 47, had served as LendingTree’s President and COO since 2023 and was widely viewed as Lebda’s handpicked successor. In his first message as CEO, Peyree said the news was “devastating,” but noted that one of Lebda’s lasting legacies is “the strong management team he put in place”. He expressed confidence in continuing “our shared vision with Doug into the future”. Lead Director Ozonian remarked that Peyree has “outstanding commitment and focus,” and he had “the utmost confidence” in Peyree’s ability to lead the company forward.
Financial analysts echoed confidence in LendingTree’s continuity. Reportedly, analysts at Keefe, Bruyette & Woods said Lebda’s passing is a “meaningful loss,” but that Peyree has “the right qualifications to step into the CEO role during this difficult transition”. The company’s stock briefly fell after the announcement – sliding over 2% on Oct. 13 as markets reacted – but analysts and investors noted that Peyree’s promotion and the strong leadership team suggested stability. (By market close, the stock had largely recovered.) The board and new management indicated that all key operations would continue normally, including the upcoming third-quarter earnings report scheduled for late October.
Doug Lebda: LendingTree Founder and Legacy
Doug Lebda co-founded LendingTree in 1996, driven by frustrations with the mortgage process and a desire to simplify shopping for loans. A Pennsylvania native, he graduated from Bucknell University (B.S.) and earned an MBA at UVA’s Darden School. After starting his career at accounting firm PricewaterhouseCoopers, Lebda launched LendingTree from his parents’ basement, aiming to put consumers in control of loan shopping.
Timeline of Key Events:
- 1996 – Doug Lebda founded LendingTree in Charlotte, NC, to let consumers compare loan offers online.
- 1998 – LendingTree website launches nationwide, pioneering the loan comparison model.
- 2000 – LendingTree holds its initial public offering (NASDAQ: TREE).
- 2003 – InterActiveCorp (IAC) acquires LendingTree; Lebda remains CEO and serves as IAC COO until 2008.
- 2008 – LendingTree spins off from IAC as an independent public company; Lebda returns as CEO.
- 2024 – LendingTree reports ~$900 million in revenue and ~1,000 employees; Lebda donates $500,000 to Atrium Health for rural healthcare support.
- Oct 12, 2025 – Lebda dies in an ATV accident at age 55.
- Oct 13, 2025 – LendingTree announces Lebda’s death; Scott Peyree named CEO, Steve Ozonian named board chair.
Over nearly three decades, Lebda built LendingTree into one of Charlotte’s best-known companies. Under his leadership, LendingTree expanded beyond mortgages into auto loans, credit cards, insurance, and business financing. The company’s online platform now connects consumers with around 430 financial partners to compare loans, credit cards, and insurance offers. Millions of people have used the service to simplify major financial decisions, a mission Lebda championed. “He built a company rooted in consumer empowerment,” the board noted.
Company and Community Impact
LendingTree’s economic footprint was significant in Charlotte and nationwide. The company generated roughly $900 million in 2024 revenue and employed nearly 1,000 people in the region. Its success helped fuel Charlotte’s finance industry boom. Notably, Lebda’s decision to base LendingTree in Charlotte – rather than a traditional finance hub – brought jobs and growth to the city. Local leaders celebrated this impact: former Mayor and North Carolina Governor Pat McCrory said he “lost a true friend” and that North Carolina lost “one of America’s greatest entrepreneurs” in Lebda. McCrory noted that Lebda “could have put the headquarters of LendingTree anywhere … but he selected Charlotte to be his home”.
Lebda was also active in philanthropy. In 2024, he donated $500,000 to Atrium Health to support rural healthcare in North Carolina. He often appeared in national media and at financial industry events to advocate for consumer-friendly fintech. His peers remember him as passionate about simplifying finance: the company’s press release recalled his “relentless drive” and commitment to giving consumers “the power to win financially”.
What’s Next for LendingTree
With Lebda gone, LendingTree’s board and new CEO have signaled continuity in strategy. In its statement, the board emphasized dedication to “upholding [Lebda’s] legacy and continuing the work he began”. Scott Peyree, a longtime company veteran, will lead daily operations and guide the business through the next quarter. Analysts noted that while Lebda’s leadership was distinctive, Peyree’s deep company experience should ensure stability. One industry report confirmed confidence that Peyree can “step into the CEO role during this difficult transition”.
LendingTree’s mission is unlikely to change. The platform remains committed to simplifying loan comparisons and financial decisions for consumers. The board has promised to carry on with “passion, integrity and dedication,” reflecting Lebda’s values. The company will release its third-quarter earnings on Oct. 30, at which time investors will watch for commentary on management succession. Market analysts expect LendingTree to honor previous guidance, with internal focus on a smooth leadership handover.
FAQs:
- Who was Doug Lebda? – Doug Lebda was the founder, chairman and CEO of LendingTree, an online financial services marketplace. He started the company in 1996 to simplify loan shopping for consumers.
- How did CEO Doug Lebda die? – Lebda died in an all-terrain vehicle (ATV) accident on Oct. 12, 2025, at his family farm in North Carolina. The company announced his passing on Oct. 13.
- What is LendingTree? – LendingTree is a Charlotte-based fintech company offering an online platform where consumers can compare loans, credit cards, insurance, and more through a network of hundreds of financial providers.
- Who replaced Doug Lebda as CEO? – On Oct. 13, 2025, LendingTree’s board named President and COO Scott Peyree as the new CEO effective immediately. Steve Ozonian was appointed board chairman.
- What was Doug Lebda’s impact? – Lebda is credited with popularizing online lending marketplaces. Under his leadership, LendingTree grew to nearly $900 million in revenue (2024) and about 1,000 employees, helping millions of consumers make financial decisions easier. Tributes note he was a visionary entrepreneur who empowered borrowers.
Sources & Notes
Reports on Doug Lebda’s death and legacy from authoritative outlets, company press releases, and local media were used in this article. Key sources include LendingTree’s official statement (Oct. 13, 2025), Fox Business and Bloomberg news coverage (Oct. 13, 2025)prnewswire.combloomberg.com, the People magazine report (Oct. 13, 2025)people.com, the Charlotte NPR affiliate WFAEbpr.orgbpr.org, HousingWirehousingwire.comhousingwire.com, The Economic Timeseconomictimes.indiatimes.comeconomictimes.indiatimes.com, and LendingTree’s own filings (via PR Newswire)prnewswire.comprnewswire.com. Facts marked with quotation marks are direct quotes from the cited sources.