Key facts
- Vishal Garg is seeking to regain control of Better.
- Garg is seeking majority shareholder support.
- Garg proposes to work for $1 annually.
- Garg proposes to repurchase $30 million in stock.
- The company's board is pushing back against Garg's proposal.
- The board cites past losses as a reason for resistance.
- The board cites concerns over Garg's conduct as a reason for resistance.
Vishal Garg, the founder of Better, is making a bid to regain control of the company. His strategy involves securing the support of majority shareholders. As part of his proposal, Garg has offered to work for an annual salary of $1 and to repurchase $30 million worth of the company's stock. However, the company's board is reportedly pushing back against Garg's efforts. The board's resistance stems from concerns over Better's substantial past losses and issues related to Garg's previous conduct. The specifics of these concerns have not been detailed, but they appear to be significant enough to warrant opposition to Garg's proposed return to leadership.