Vishal Garg and Garg Group secure consents representing over 51% of Better Home & Finance voting shares
BETR•Vishal Garg and Garg Group secured written consents representing over 51% of Better Home & Finance’s voting shares and outlined a 90-day turnaround plan. It includes board changes, a strategic sale of the company’s UK banking operations, a $30 million stock buyback plan and a $60 million annual cost-savings target.
1. Turnaround plan
Vishal Garg and Garg Group said they secured written consents representing over 51% of Better Home & Finance Corporation’s voting shares and are preparing a detailed 90-day turnaround plan. The plan includes removing current directors Daniel Lewis, Harit Talwar, Bhaskar Menon, Arnaud Massenet and Prabhu Narsimhan, and appointing Bing Gordon and Steve Sarracino to the board.
2. Proposed changes
The group said it would complete a strategic sale of Better’s UK banking operations, implement a $30 million stock buyback plan and raise the annual cost-savings target to $60 million through operational streamlining.
