Better.com founder Vishal Garg rose to prominence after firing over 900 employees in a 2021 Zoom call, triggering widespread backlash
The company’s board removed Garg as CEO in August 2026, appointing investor Daniel Lewis as interim chief
Garg is now challenging the move, claiming majority shareholder support and accusing the board of ousting him over disputed concerns about his judgment
Vishal Garg Wants His CEO Job Back After Better Board Ouster
The way the news was delivered was criticised heavily. Garg apologised for his actions and took a break from work. However, he returned to his position as the CEO in January 2022. The firm went through more rounds of layoffs as the mortgage market became weaker and weaker.
Meet Vishal Garg, the Indian-Origin CEO Who Fired 900 Employees Over Zoom Pixoate.com
Summary
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Vishal Garg, the Indian-American founder who went viral in 2021 after laying off around 900 employees on a Zoom call, wants his job back now. He aims to reclaim his role as chief executive of the US mortgage firm, Better Home & Finance, after his own removal from the role a few weeks ago.
The board barred Garg from a unanimous decision to fire him, citing issues with his "judgment, temperament and credibility". Daniel Lewis stepped in as interim CEO on August 3, after an initial claim that both parties "mutually agreed" to the change.
Garg first drew wide attention in 2021 after firing more than 900 employees on a Zoom call. He has since hired lawyer Alex Spiro, a partner at Quinn Emanuel, and formally demanded that Better's board reinstate him as CEO.
Boardroom Betrayal
Garg claims his successor deceived him. "He hoodwinked me," Garg told CNN. "He said he liked the company's strategy. He praised us on X (formerly Twitter) and used that to get on our board and win our confidence."
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Before joining Better's board on July 27, Lewis spent months advising Garg on cutting costs and raising profits. Garg said Lewis secured support from directors and executives by endorsing the firm's plans before taking the top job. "I suspect he always wanted to become CEO," Garg said, adding that he believes "the board made a mistake."
Recovery and AI
The company is recovering, said Garg adding that his ouster came just as Better turned a corner after years of financial distress. Rising mortgage rates and a collapsed refinancing market previously battered the firm, dragging its valuation down from a pandemic peak of $8bn.
Annual sales plummeted from $1.5bn in 2021 to $70mn in 2023. Garg expects the firm to generate about $200mn this year, aided by strategic alliances and AI-driven mortgage systems.
"We’re winning. We’ve tripled loan volume. We’re close to profitability. We were at the 5-yard line after taking the ball all the way down the field from the other side,” he told the news publication.
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Fight for Reinstatement
Garg still holds his board seat. He said several shareholders reached out following his ouster to encourage his return. Support from early backers gives him sufficient voting strength to reclaim the company, he added.
He also offered to work for a $1 annual salary until the firm became profitable, promising to step down after that. "It’s an acknowledgement that I’ve been doing this for 10 years, but execution hasn’t been perfect," Garg said. "I hope it gets resolved. I think the future still remains very bright for Better."