Better Home & Finance leadership dispute

Better Home & Finance Holding Co. is embroiled in a leadership and governance dispute involving founder Vishal Garg. Following Garg’s removal as CEO in August, the company’s board launched an investigation into allegations that Garg attempted to offer company interests or property to former employees and shareholders to gain support for his campaign to remove five current directors. The board characterized these allegations as “credible and serious,” suggesting they could impact Garg’s fiduciary duties.

In response to these developments, Garg claimed to have secured majority shareholder support, asserting that investors representing over 51% of voting power provided written consent to remove five directors, including interim CEO Daniel Lewis. Garg described the outcome as a “resounding victory” against a “coup led by Daniel Lewis and the incumbent board.” Rather than seeking to reclaim the CEO role, Garg expressed intent to transition into a position focused on product, platform, and innovation while the group seeks an outside interim CEO with mortgage-industry expertise.