Better.com turmoil: Founder moves to oust interim CEO via shareholder vote
Better.com's interim CEO Daniel Lewis spent his first full week on the job vacationing in the South of France as founder Vishal Garg mobilizes about 52% of voting power to oust Lewis and five directors. The insurgents have hired Quinn Emanuel and could push a shareholder vote within roughly 10–35 days. Garg was fired Aug. 3 and offered a vice-chair role, with the board alleging governance concerns and possible securities-law issues; Garg’s allies dispute the claims. Co-founder Nick Calamari was placed on administrative leave amid the upheaval. The turmoil follows years of upheaval after Garg’s 2021 layoffs, even as Better reports Q2 revenue of $54.7 million and a net loss of $30.6 million, with the company showing some improvement recently.