Vishal Garg, CEO Who Fired 900 Over Zoom, Ousted by Better.com Board

The board of Better Home & Finance voted unanimously to remove Garg, who became widely known in 2021 for laying off 900 employees during a Zoom call. Daniel Lewis, a former executive at the company, has been appointed as his replacement.

Garg's dismissal follows a period of severe financial losses for the digital mortgage lender, which went public in 2023 after a merger with a special purpose acquisition company. The company's stock has since fallen sharply, and it has struggled to maintain profitability in a high-interest-rate environment.

In response to his ouster, Garg has initiated legal proceedings challenging the board's decision. The specifics of his legal claim have not been disclosed, but the move signals an ongoing dispute between the founder and the company's leadership.

Garg founded Better.com in 2016 and built it into one of the most prominent online mortgage platforms. His abrupt firing of employees in December 2021 drew widespread criticism and led to a public apology, though he remained CEO until now.

The board's decision marks a dramatic fall for Garg, who was once celebrated as a disruptor in the mortgage industry. Lewis, who previously served as Better's president, now faces the task of stabilizing the company amid ongoing market challenges.