The fallout on the mortgage front continues as CEO of one of the largest online lenders LendingTree, Tom Reddin, has decided to leave the company to spend more time with the family. Now having lived the corporate life, that means that I am still liked by my bosses and board, but that the landscape is changing and they need me to get the heck out of there.
So for those who are watching the mortgage fallout, keep an eye on LendingTree in the coming weeks. It may be about to fall out.
New York-based IAC/InterActiveCorp (NASDAQ:IACI), which owns LendingTree, has begun a search for his replacement. In the interim, LendingTree founder and IAC President Doug Lebda says in an e-mail to employees, “I’ll personally get very engaged in your business in the coming days and weeks, including spending several days a week in Charlotte.”
Reddin, 46, will stay in Charlotte and will remain active on local boards. But he says he wants to retool his life to balance work and family. The eldest of his three children is 10 years old, and Reddin says he needs to spend more time being a father. When he returns to the business scene, it will be in a different job. He declines to be more specific about his plans.
“I am at a stage where I am not as involved in my kids’ lives as I want to be,” he says. “I have thoroughly enjoyed this job from the standpoint of an intellectual challenge and for the people involved. But I want to step back.” via Charlotte Business Journal
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