CHARLOTTE, N.C., June 10, 2015 /PRNewswire/ --
LendingTree®, the nation's leading online loan
marketplace, has announced a series of senior executive
appointments to fully align the company's management team for rapid
scale and to leverage new growth opportunities.
Gabe Dalporto, who joined the
company in April 2011 as CMO and was
named President, Mortgage in February
2013, will assume a new role as Chief Financial Officer,
leading the initiative to build a finance and analytics function
for the next phase of the company's growth. Carla Shumate will remain in her role as
LendingTree's Chief Accounting Officer.
"Gabe was instrumental in the company's turnaround and its rapid
growth since then," said Doug Lebda,
founder and CEO of LendingTree. "With his deep operational and
P&L knowledge, combined with his analytics expertise, Gabe is
the natural choice to lead a finance function that leverages
analytics to drive our business growth."
"At the same time we usher in a new chapter for LendingTree, I
want to personally thank Alex Mandel
for his service at LendingTree. Alex joined the company in
August 2010 as a financial
consultant, named CFO in July 2012,
played an essential role in the resurgence of Lending Tree over the
past five years and recruited an exceptionally talented finance
team. LendingTree, the board of directors and I personally thank
Alex for his contributions and wish him all the best in his future
endeavors," added Lebda.
Nikul Patel will become
LendingTree's Chief Operating Officer, an expansion of his prior
Chief Product and Technology Officer role. In this new role, Nikul
will be responsible for the day-to-day business operations for the
lending businesses in addition to his product and technology
responsibilities. Since joining in June
2012, Nikul has driven the company's rapid rollout of
innovative new products and business lines.
Paul Onnen will join the company
as Chief Technology Officer. Paul brings over 25 years of
experience directing, developing and executing innovative
enterprise and web-based products and services for leading
organizations including Google, Expedia, WebMD, Nordstrom.com and
Intel, as well as several successful start-up
companies. Most notably, Paul led the effort to
re-architect and successfully launch a new version of the
Expedia.com platform, the largest such project in the company's
history.
"Having someone of Paul's caliber to lead LendingTree's
innovative technology initiatives will greatly contribute to our
success. His experience and achievements at Expedia.com and
other media companies will be invaluable to the team as we
transform our business to become the search engine for money," said
Doug Lebda.
Neil Salvage will fill the newly
created role of Chief Revenue Officer, responsible for all revenue
for the company, leading the sales, contact center and lender
partnership teams. Neil joined the company in July 2013 to run LendingTree's home services
business and later assumed the additional responsibility of
managing the company's contact center.
"Neil has built his career on successfully creating, developing
and growing sales channels for several major companies including
CBS Television and Radio, IAC/Interactive Corp.'s CityGrid Media
and YellowPages.com," continued Lebda. "Because he has a deep
understanding of the lending and non-lending revenue drivers of the
company and is a seasoned expert in leading sales operations, I'm
confident Neil will successfully drive revenue and sales
initiatives at LendingTree."
"LendingTree has experienced tremendous growth over the past
four years and that growth continues into 2015. Our first
quarter was terrific but the most significant growth opportunities
remain ahead, and we are positioning ourselves to scale. These
management assignments bolster our management teams, align
ourselves to support company growth, and allow some of our most
senior people to apply their expertise in new directions to achieve
new levels of success," said Doug
Lebda.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995
The matters contained in the discussion above may be considered
to be "forward-looking statements" within the meaning of the
Securities Act of 1933 and the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Those statements include statements regarding the intent, belief or
current expectations or anticipations of LendingTree and members of
our management team. Factors currently known to management that
could cause actual results to differ materially from those in
forward-looking statements include the following: the performance
of executives in their new roles, adverse conditions in the primary
and secondary mortgage markets and in the economy, particularly
interest rates; willingness of lenders to make unsecured personal
loans and purchase leads for such products from the Company;
seasonality of results; potential liabilities to secondary market
purchasers; changes in the Company's relationships with network
lenders; breaches of network security or the misappropriation or
misuse of personal consumer information; failure to provide
competitive service; failure to maintain brand recognition; ability
to attract and retain customers in a cost-effective manner; ability
to develop new products and services and enhance existing ones;
competition; allegations of failure to comply with existing or
changing laws, rules or regulations, or to obtain and maintain
required licenses; failure of network lenders or other affiliated
parties to comply with regulatory requirements; failure to maintain
the integrity of systems and infrastructure; liabilities as a
result of privacy regulations; failure to adequately protect
intellectual property rights or allegations of infringement of
intellectual property rights; and changes in management. These and
additional factors to be considered are set forth under "Risk
Factors" in our Annual Report on Form 10-K for the period ended
December 31, 2014 and in our other
filings with the Securities and Exchange Commission. We undertake
no obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results or expectations.
About LendingTree, Inc.
LendingTree, Inc. (NASDAQ: TREE) operates the nation's leading
online loan marketplace and provides consumers with an array of
online tools and information to help them find the best loans for
their needs. LendingTree's online marketplace connects
consumers with multiple lenders that compete for their business,
empowering consumers as they comparison-shop across a full suite of
loans and credit-based offerings. Since its inception,
LendingTree has facilitated more than 35 million loan
requests. LendingTree provides access to lenders offering
home loans, home equity loans/lines of credit, reverse mortgages,
personal loans, auto loans, small business loans, credit cards,
student loans and more.
LendingTree, Inc. is headquartered in Charlotte, NC and maintains operations solely
in the United States. For more
information, please visit www.lendingtree.com.
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SOURCE LendingTree, Inc.