Vishal Garg regains control of Better’s board after receiving 52% shareholder support

After a two-month dispute over the company’s leadership and direction, Vishal Garg, founder of Better Home & Finance Holding Co., announced Monday that shareholders had backed his effort to remove five directors from the company’s board after an independent election inspector certified their votes. The final certification showed that shareholders representing 52.02% of Better’s outstanding voting power supported removing Chairman Harit Talwar, interim CEO Daniel Lewis, and directors Arnaud Massenet, Bhaskar Menon and Prabhu Narasimhan, according to a press release issued by Garg and The Garg Group, a coalition of investors. The news comes on the same day that Better announced that it would not challenge Garg’s consent solicitation to remove the directors and return him to a leadership role. “In the last decade, only 1.7% of corporate proxy disputes seeking to replace the Board of a public company succeeded. Overcoming 50-to-1 odds to replace a public company board is a tremendous vote of confidence from our shareholders,” Garg said in a statement. “We recognize the significant work ahead to execute on Better 2.0, and we are committed to rebuilding trust through transparency, ex...