LendingTree, Inc. Thursday announced that the board of directors has promoted Chief Operating Officer Tom Reddin to President and Chief Operating Officer. Mr. Reddin, 40, joined the Company in December of 1999 as Chief Marketing Officer, and was promoted to Chief Operating Officer in May, 2000. Before Mr. Reddin joined LendingTree, he worked for Coca-Cola USA as Vice President, Consumer Marketing, where he was responsible for the overall management of the Coca-Cola brand strategy and initiatives. During his career at Coca-Cola USA he also led the business units for several brands portfolios including Powerade, Fruitopia, Nestea, and Minute Made Juices. Mr. Reddin was also instrumental in the product development and business strategy that led to Cola-Cola USA’s decision to enter the bottled water market.
Stated LendingTree Founder and CEO Doug Lebda “Since joining the company, Tom has led and executed initiatives that have contributed significantly to LendingTree’s position as the breakaway leader in online lending. Tom’s leadership in the areas of product management, marketing, and operations has resulted in the ongoing development of our lending exchange as it continues to add more lenders and attract consumers in greater numbers than ever before.” Lebda continued, “Tom’s leadership and management skills will help LendingTree progress to sustainable, profitable growth and develop into the dominant lending exchange that empowers consumers, lenders and related service providers and will generate more than $100 billion in loans by 2005.”
Mr. Reddin’s business responsibilities will continue to encompass LendingTree’s operations, marketing, sales, account management, Lend-X product management, and Realty Services business units of LendingTree.
Thomas Reddin Biography
Mr. Reddin joined LendingTree, Inc. from Coca-Cola USA, where he was Vice President, Consumer Marketing. During his five years at Coca-Cola USA he was responsible for leading the strategic marketing activities for several business units. Importantly, Mr. Reddin led all marketing activities for the Coca-Cola brand and was responsible for the overall management and bottom line results of the Consumer Occasions Marketing group. In this capacity he also led strategy and management of online shopping, vending and packaging development for Coca-Cola USA’s portfolio of 21 brands. Prior to his experience at Coca-Cola, Mr. Reddin spent thirteen years with Kraft General Foods managing various business units, including the creation and deployment of significant new business lines that generated more than $150 million in retail sales. Mr. Reddin is a graduate of the University of North Carolina — Chapel Hill, and received his MBA with Honors from New York University.
About LendingTree, Inc.
LendingTree (Nasdaq: TREE) is the Internet-based loan marketplace for consumers and lenders. LendingTree collects consumer credit requests and compares those requests and related credit information to the underwriting criteria of the more than 100 participating lenders in the LendingTree marketplace. Qualified consumers may receive multiple offers in response to a single loan request within hours and then compare, review, and accept the loan offer that best suits their needs. Lenders can generate new business that meets their specific underwriting criteria at reduced acquisition costs. The LendingTree marketplace encompasses most consumer credit categories, including mortgages, home equity loans, automobile loans, credit cards, and personal loans. For more information, or for a full listing of the more than 100 banks and lenders in the LendingTree marketplace please go to [www.lendingtree.com].
Lend-X(SM) is LendingTree’s online loan exchange technology that enables companies to quickly and easily embed a customized private label or co-branded loan marketplace into their site in a variety of different business models. Lend-X(SM) technology provides a fast, adaptable and reliable online lending solution for lenders and non-lenders alike with valuable access to LendingTree’s online lending exchange of more than 100 banks and lenders. In conjunction with LendingTree’s services, Lend-X can be used to provide access to loans for consumers of lenders and non-lenders alike. Lend-X(SM) clients include: Freddie Mac, S1 Corporation, priceline.com, America’s MoneyLine (AML), EDS’s Wendover, Home Account, MSN Money Central, Wachovia, Fleet Bank, Citizens Bank, and Affinity Plus Federal Credit Union.