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The unexpected deaths of leaders historically lead to immediate shareholder anxiety and stock declines. When Steve Jobs passed, Apple shares dropped temporarily; similarly, TREE's stock reflects uncertainty after Lebda's death.
What happened, with direct paths to the underlying reporting
Doug Lebda, LendingTree CEO, died in an ATV accident. Shares fell about 9% after the announcement, continuing a 10% slide. New CEO Scott Peyree and chairman Steve Ozonian aim to uphold Lebda's vision. LendingTree provides a marketplace for loans and financial services since 1996. The company partners with over 500 lenders nationwide.
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