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FILE – Douglas “Doug” Lebda, chief executive officer of LendingTree Inc., pauses during a Bloomberg Television interview in New York, U.S., on Tuesday, March 8, 2016. (Photographer: Chris Goodney/Bloomberg via Getty Images)

LendingTree CEO and founder Doug Lebda died in an accident over the weekend, the company announced on Monday. 

Lebda, 55, died unexpectedly following an all-terrain vehicle accident on Sunday. 

What they’re saying:

“Doug was a visionary leader whose relentless drive, innovation and passion transformed the financial services landscape, touching the lives of millions of consumers,” LendingTree’s board of directors said in a statement. “His passion will continue to inspire us as we move forward together.”

What’s next:

Scott Peyree, LendingTree’s chief operating officer and president, has been appointed CEO effective immediately. 

ATV accident on family farm

What we know:

The accident took place on Lebda’s family farm in North Carolina, according to the Wall Street Journal. 

The backstory:

Lebda founded LendingTree in 1996.

The platform launched nationally in 1998 and has gone on to become a central online loaning marketplace that helps users find and compare loans for a variety of things. 

The Source: Information for this article was taken from The Associated Press and reporting by FOX Business. This story was reported from San Jose. 

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