Better Home & Finance's board special committee withdrew its challenge to preliminary election results showing former CEO Vishal Garg succeeded in removing five of the company's directors, sending the stock down 7.3% in midday Monday trading. The committee said it determined the decision was in the best interests of the company and all stockholders, citing the costs and uncertainty of a prolonged contest. On Friday, Garg said the independent election inspector hired to verify the proxy contest results confirmed that the Garg Group had received more than 52% of the votes required to remove five directors from the board, and that the group is working with the board to effectuate an orderly handover. Garg sought to unseat directors Daniel Lewis, Harit Talwar, Arnaud Massenet, Bhaskar Menon, and Prabhu Narasimhan, and to add his designees, Silicon Valley venture capitalists Bing Gordon and Steve Sarracino. Late last week, Better Home said Michael Farello had resigned from the board on Sept. 28, 2026, and over the past year the stock has plunged 80%.
Better Home & Finance Holding CompanyBoard proxy fight ends with founder Vishal Garg ousting five directors, creating governance upheaval and uncertainty for the company.
