- Push-out Score suggests push-out forces
- After around two years on the job
- Accolades and praise for Dalporto
- J.D. Moriarty taking over
- Dalporto will remain as member of the board of directors at LendingTree
- Dalporto said 60 words
(exechange) — Charlotte, North Carolina, August 30, 2017 — Gabe Dalporto, finance chief of LendingTree, leaves the position. As announced by LendingTree, Inc. in a news release on Wednesday, August 30, 2017, Gabriel (Gabe) Dalporto leaves the post as Chief Financial Officer at the online loan marketplace in a surprising move after around two years on the job.
No company wants a CFO to flame out in the first years.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, only 36 percent of the CFOs who departed over the past twelve months left within three years. Overall, the average tenure of those who left was 5.6 years, according to data compiled by exechange.
The exact date of Dalporto’s departure was not given in the announcement. Obviously, it was an abrupt change.
Dalporto’s duties are taken over by J.D. Moriarty, most recently SVP of Corporate Development at LendingTree, Inc.
LendingTree has already removed the name of Dalporto from the leadership page and lists Moriarty as Chief Financial Officer.
No reason given
In the announcement, LendingTree did not explicitly explain the reason for Dalporto’s move, leaving room for speculation.
Dalporto will remain as member of the board of directors at LendingTree
“Gabe Dalporto, who previously served as the company’s Chief Financial Officer since 2015 and as LendingTree’s Chief Marketing Officer from March 2011 to June 2015, has been elected to the company’s board of directors,” LendingTree said.
Share price rise since October 2016
The change follows a rise in the share price of LendingTree, Inc. since October 2016.
Chaired by Douglas Lebda
LendingTree, Inc. is chaired by Douglas Lebda.
Douglas Lebda is the Company’s Chairman, Chief Executive Officer and a member of the Company’s Board of Directors and has served in such capacities since January 2008.
On the job as CFO since 2015
Gabriel Dalporto has served as the Company’s Chief Financial Officer since June 8, 2015.
Prior to that, he served as the Company’s Chief Marketing Officer since April 2011 and also as President of Mortgage since March 2013, and was designated by the Company’s Board of Directors as an executive officer in February 2012.
Before joining the Company, Dalporto served as Founder and Chief Executive Officer of Atomic Financial, Inc., a startup online investing platform, from January 2010 to April 2011.
He served as Chief Marketing and Strategy Officer of Zecco Holdings, Inc., an online brokerage company, from January 2007 to December 2009.
Dalporto served as Vice President at E*Trade Financial from August 2004 to November 2006 and as Vice President at JP Morgan Chase from September 2003 to July 2004.
Dalporto will remain with the company through February of 2018 to facilitate a seamless transition to Moriarty.
Carla Shumate, who has served as Chief Accounting Officer of LendingTree since January 2013, will continue to oversee all accounting functions.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Gabe Dalporto’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 36.2017 ($).