Better Home & Finance Holding Co. said its board remains united behind interim CEO Daniel Lewis amid a dispute with founder and former CEO Vishal Garg, who is seeking to remove several directors.
The Special Committee, which oversees leadership changes and operational performance, stated that every director except Garg supports the transition away from founder-led management. The committee reiterated its unanimous position that Garg should have no continuing operating role at the company.
Better’s stock has fallen more than 90% during Garg’s tenure as CEO, and the company expects annualized cost reductions to exceed the previously announced $45 million target. Despite the leadership turmoil, Better said it remains within published third-quarter guidance and expects a return to growth.
The company highlighted strong early performance from a newly launched partnership, describing it as the strongest initial results of any partnership in its history based on locked loan volume. Better also noted progress toward launching a wholesale program powered by the upcoming TinmanGo platform and plans to add at least two more enterprise partnerships.
Better’s U.K.-based bank sale process is ongoing, with the company continuing discussions with potential buyers. The company operates an AI-native mortgage and home equity finance platform.
On August 19, Better filed a preliminary consent revocation statement with the U.S. Securities and Exchange Commission in opposition to Garg’s solicitation to remove board members. The filing follows the Special Committee’s leadership decisions and operational updates.
