Left in the wake of Barry Diller's acquisitive empire: a flotsam of discarded executives. Doug Lebda, IAC's president and COO since 2003, now joins them. According to an internal memo obtained by Valleywag, Lebda has been appointed CEO of IAC's mortgage and finance businesses, which are soon to be spun off. This can hardly be welcome news to Lebda, who's essentially returning to LendingTree, a business he founded in 1996 and sold to Diller in 2003. Here's the memo.
From: Barry Diller Sent: Monday, January 07, 2008 11:04 AM To: All IAC Subject: Doug Lebda to Lead IAC's Financial Services and Real Estate BusinessesWell, we'd love to hear more about those "details that we're not sharing externally." Anyone got them?
Today IAC is announcing that Doug Lebda, IAC President and Chief Operating Officer, has been appointed Chairman and CEO of our Financial Services and Real Estate businesses, including LendingTree, HomeLoanCenter, GetSmart, RealEstate.com, Domania and iNest. A press release outlining the news, as well as details that we're not sharing externally - including the strategy behind these moves - can be found on our internal site, IAC Connect. Please visit IAC Connect and review the news.