Industry News

LendingTree founder moves up in IAC/InterActiveCorp

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IAC/InterActiveCorp, the parent company to LendingTree and, has named Doug Lebda president and chief operating officer, the corporation said in an announcement Wednesday. Lebda formerly was CEO of IAC Financial Services and Real Estate. Tom Reddin, previously CEO of and IAC's other real estate businesses, will succeed Lebda. Barry Diller, chairman and CEO of IAC, in a statement Wednesday said: "Doug Lebda's success at LendingTree, taking it from a seedling idea to our fastest-growing business -- with truly superior entrepreneurial effort and execution -- makes him a fine choice for the new position." The addition of Lebda to the company's senior management group will enable Diller to spend more time on overall strategies and opportunities, Diller said. Lebda is the founder of LendingTree, which he conceived in 1996 after writing a business plan during his first year at the Darden School of Business at the University of Virginia. Today, Lending...