New York – October 29, 2026 -- Shareholders of Better Home & Finance (NASDAQ: BETR) removed five of the company's eight directors, including Interim CEO Daniel Lewis, after holders of a majority of outstanding shares consented to founder Vishal Garg's solicitation, according to a commentary from proxy adviser Egan-Jones.
Better confirmed the majority consent on October 5, ending the board contest
The reconstituted board is now cut to five seats. The result does not by itself reinstate Garg as CEO. It gives the board access to his product and strategy expertise while the company settles its permanent leadership.
Egan-Jones recommended that shareholders consent FOR the solicitation in its September 15, 2026 research report. The two other leading proxy advisory firms sided with the incumbent board.
Egan-Jones cites a 14% two-year shareholder return as the basis for its backing of Garg
In the two years before Garg's departure, Better's total shareholder return was 14%, greater than any other company in its peer group. Revenue rose quickly year after year, and earnings, while still negative, were steadily improving.
Egan-Jones notes that neither side disputed that strategy stayed the same under Lewis, which made the contest about execution rather than direction. Several wins management cited, including a completed Credit Karma home equity partnership, were built and announced under Garg.
Better's stock fell about 53% in roughly five weeks after Garg's August 3 removal
The shares underperformed every peer in the comparison group over that period, and several senior leaders left. Egan-Jones also questions the board's process: Garg was terminated the same morning the board was reportedly celebrating the Credit Karma partnership.
Egan-Jones concluded that shareholders would be better served by a board that restored Garg's influence over the company's direction. With the contest settled, it says the focus shifts from governance to execution.