LendingTree, the online loan marketplace, recently announced a pair of changes to its management, promoting its chief financial officer to its board of directors and replacing him with the company’s senior vice president of corporate development.
Gabe Dalporto, who served as the LendingTree’s CFO since 2015 and who previously served as the company’s chief marketing officer from March 2011 to June 2015, was promoted to the company’s board of directors.
Replacing Dalporto as CFO will be J.D. Moriarty, who joined the company earlier this year as SVP of corporate development.
In a statement, LendingTree’s Founder and CEO Doug Lebda said that both Dalporto and Moriarty are ideal for their new roles.
“Gabe is uniquely qualified to serve on our board, given his almost seven-year run within the company and deep understanding of all aspects LendingTree's business, while J.D.'s financial background and experience in the financial services sector further bolsters our executive leadership team,” Lebda said.
“Since joining LendingTree, Gabe has helped to grow and diversify our company. During his tenure, revenue has increased tenfold and our market cap has grown from less than $100 million to well over $2 billion,” Lebda added. “And as our newly-appointed CFO, J.D. will undoubtedly play a key role on our executive team as we advance our strategic plan and continue to create value for our shareholders. We look forward to the continued contributions of both executives.”
Dalporto will remain with the company through February 2018 to facilitate a “seamless” transition to Moriarty, the company said.
“I am truly honored that Doug and the board have asked me to serve alongside them as a director,” Dalporto said. “The last six and a half years have been by far the most exciting and rewarding years of my career. I’m proud to have played a role in the company's transformation and look forward to helping contribute to LendingTree’s ongoing success.”
Moriarty added: “I joined LendingTree because I saw a huge opportunity for the company to expand on our market leading position, and I today I am honored and excited to take on additional responsibilities. It has been great to work with Gabe, and I look forward to continuing to partner with him as a key member of our board of directors.”