Tom Reddin, chief executive officer of LendingTree, is retiring.

Redding will step down as of May 7, The Charlotte Business Journal reported Monday evening. He will be replaced on an interim basis by LendingTree founder Doug Lebda, who is now president of IAC, the parent firm of LendingTree.

Reddin, 46, joined LendingTree as its chief marketing officer in 1999, was promoted to chief operating officer in 2001 and succeeded Lebda as CEO of the Financial and Real Esate Division of IAC in 2005. IAC purchased LendingTree in 2003.