Better pushes back on Garg’s bid to regain control, citing losses and board concerns

Better Home & Finance Holding Co. on Friday pushed back against efforts by former CEO Vishal Garg to regain control of the company, accusing him of a history of poor performance and attempting to pressure the board. The company said its board, excluding Garg, unanimously voted to remove him as CEO after concerns about his “judgment, temperament and credibility.” The board cited more than $1.5 billion in cumulative GAAP net losses since 2022 and a stock price decline of more than 90% during Garg’s tenure. The letter and announcement come just 11 days after Better announced that board member Daniel Lewis would succeed Garg as interim CEO. Garg told HousingWire at the time that he remained “Better’s founder, a board director, its single largest voting shareholder.” Garg previously aimed for profitability by late 2026. But Better’s Q2 2026 earnings including an adjusted EBITDA loss of $14 million and came after 11 consecutive quarters of losses. Garg seeks return to executive role The pushback follows Garg’s announcement Thursday evening that he is seeking to return to an executive role and had retained the services of attorney Alex Spiro. In a letter to the board, Garg called for ...