Doug Lebda, 37, founder of LendingTree, will become chairman/CEO of IAC’s newly-created Financial Services and Real Estate business following the breakup of the company into five separately-traded companies, IAC chairman Barry Diller said Monday.
Lebda, former COO of IAC (and no. 47 on our Silicon Alley 100 list), will run the most troubled sector of IAC’s five business areas, including LendingTree, HomeLoanCenter, GetSmart, RealEstate.com, Domania and iNest, businesses with heavy exposure to the home mortgage crisis and slowdown in real estate in general.
Reporting to Lebda will be C.D. Davies and Bret Violette, CEO of LendingTree and president of RealEstate.com, respectively. Lebda will continue as COO of IAC until the break-up is complete.
In November, Diller announced IAC would be broken up into five separate companies, grouping together its media & advertising-based companies, Match.com, emerging businesses, and non-operating investments.
Business Insider Emails & Alerts
Site highlights each day to your inbox.