BETA Technologies launches IPO of 25 million shares priced $27-$33
Investing.com -- LendingTree (NASDAQ:TREE) stock fell 8% Monday following the unexpected death of its founder, Chairman, and CEO Doug Lebda in an all-terrain vehicle accident.
The online loan marketplace company announced that Chief Operating Officer and President Scott Peyree has been appointed as the new President and CEO, effective immediately. Lead Independent Director Steve Ozonian, who joined the board in 2008, has been named Chairman of the Board.
LendingTree’s Board of Directors expressed deep sadness over Lebda’s passing, describing him as "a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers."
Lebda founded LendingTree in 1996 with a mission to simplify financial decisions for consumers. Under his leadership, the company grew into a significant player in the online financial services industry, connecting consumers with various financial product providers.
"We sincerely thank Scott Peyree for the momentum powered by his outstanding commitment and focus at LendingTree. We have the utmost confidence in his ability to continue to lead LendingTree into the future," Ozonian said in a statement.
Peyree, in his remarks, acknowledged the devastating news of Lebda’s passing while emphasizing the strong management team that Lebda had established. "I look forward to leading our team and continuing our shared vision with Doug into the future," Peyree stated.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.