He Fired 900 People Over Zoom and Was Later Ousted by Better’s Board. Now He Wants Back In
Vishal Garg, the former CEO of Better Home & Finance Holding Company, went viral in 2021 for a mass firing. He just lost his own job.
Better Home & Finance Holding Company recently ousted its founder and CEO, Vishal Garg, following a unanimous board vote. Garg gained notoriety in 2021 for firing 900 employees during a Zoom meeting. The board appointed Daniel Lewis as interim CEO after Garg joined the board. Garg claims Lewis misled him into joining the board. Better asserts Garg is now "waging a costly and distracting campaign" against the board.
Garg filed a preliminary Schedule 14A to remove five directors, including Lewis, with over 50.1% shareholder support. This could lead to a battle over control between the current board and Garg, backed by majority shareholders. Corporate law expert Eric Talley notes the board retains power for now, but Garg's efforts to accumulate shareholder support could pose a challenge.
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