NEW YORK – December 14, 2005 – IAC/InterActiveCorp (Nasdaq: IACI) announced today that Doug Lebda has been named President and Chief Operating Officer. Mr. Lebda was formerly CEO of IAC Financial Services and Real Estate. Tom Reddin, previously CEO of RealEstate.com and IAC's other real estate businesses, will succeed Mr. Lebda.
"Over the last two years IAC has been making the transition from a holding to an operating company," said Barry Diller, Chairman and Chief Executive Officer of IAC. "We have streamlined our assets, our transparency and manner of reporting, and now it's time to engage a centralized operational hand. We're a conglomerate of interactive businesses and our range of diversity and growth initiatives will greatly benefit from operational cohesiveness and leadership. 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. He is a clear thinker with an eye for talent and the executional focus necessary to keep all of our businesses and initiatives moving forward aggressively. It's not like I'm going anywhere, but the addition of Doug Lebda to our senior management group is going to allow me to spend the time I need to on overall strategies and opportunities."
"I'm excited about the opportunity," said Mr. Lebda. "Joining IAC has been a huge part of the growth of LendingTree, and I'm looking forward to helping to further exploit across our other businesses the growth advantages that IAC has provided LendingTree. I'm also thrilled that Tom Reddin, who has been at LendingTree since 1999, will take over my responsibilities there. He's the perfect person to lead the company's stellar growth trajectory."
Mr. 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, LendingTree is the anchor of IAC's growing stable of financial service and real estate businesses. Previously, Mr. Lebda worked as an auditor and consultant for PriceWaterhouseCoopers. Mr. Lebda holds a bachelor of business administration degree from Bucknell University. He sits on the Bucknell University Alumni Association Board of Directors and the Board of Trustees for the Darden School Foundation.
As the CEO of IAC's real estate business, Mr. Reddin is responsible for building and leveraging IAC's growing portfolio of real estate businesses, including RealEstate.com. Previously Mr. Reddin served as the President and Chief Operating Officer of LendingTree, Inc. and also as the company's Chief Marketing Officer. Prior to LendingTree, Mr. Reddin worked for five years at Coca-Cola USA, where he ran the Coca-Cola brand as Vice President, Consumer Marketing. Before that he spent 13 years with Kraft General Foods in various product management and finance capacities. Mr. Reddin is a graduate of the University of North Carolina at Chapel Hill, and received his MBA from New York University.
IAC operates leading and diversified businesses in sectors being transformed by the internet, online and offline... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at http://iac.com.