Business

LendingTree announces new CFO, other appointments

Ballantyne-based LendingTree this week announced several executive appointments, including a new chief financial officer, that it says will help position the company for rapid growth.

▪ Gabe Dalporto will act as the company’s new CFO, replacing Alex Mandel, according to a statement from the company Wednesday. Dalporto started at the company as chief marketing officer in 2011 and has been its president of mortgage since 2013.

▪ Nikul Patel will be LendingTree’s new chief operating officer, expanding his prior role as chief product and technology officer, the company says. Patel has been with the company since 2012.

▪ Paul Onnen will join LendingTree as its new chief technology officer. His related experience over 25 years includes leading the effort to launch a new version of Expedia’s website, the largest such project in the company’s history.

▪ Neil Salvage, who has held a handful of positions at LendingTree since 2013, will fill the new role of chief revenue officer and will be responsible for all the company’s revenue, leading the sales, contact center and lender partnership teams.

▪ LendingTree spokeswoman Megan Greuling said Thursday the company has also promoted its head of human resources, Claudette Parham, to the newly created role of “chief people officer.”

Mandel’s departure comes after LendingTree posted profit of $5.2 million in the first three months of this year, compared with a loss of $6.4 million a year earlier. In the profitable quarter, the company said it made record revenue of $50.9 million.

During Mandel’s tenure, the company divested some of its businesses, such as its mortgage-lending operation. Earlier this year, the company announced the rebranding of its remaining businesses under the LendingTree name. Before that, the company went by the name Tree.com.

In a statement, the company said that while Mandel “has been instrumental in LendingTree's turnaround, we needed to reimagine the relationship between business operations, analytics and finance.”

Dalporto's skills and experience, the company said, “position him perfectly to lead the initiative to take LendingTree to the next phase of growth.”

LendingTree, which matches borrowers with lenders offering various types of loans, employs about 200 at its headquarters.

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Twitter: @katieperalta

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