Glass Lewis backs Better Home & Finance board against Garg removal bid

Glass, Lewis & Co. has recommended that Better Home & Finance Holding Company (NASDAQ: BETR) shareholders oppose a consent solicitation by founder and former CEO Vishal Garg seeking to remove five members of the company's board of directors.

The recommendation, issued Sept. 15, 2026, follows a similar recommendation from Institutional Shareholder Services (ISS). Both proxy advisory firms advised shareholders to revoke any previously submitted consent by returning the company's white consent revocation card.

In its report, Glass Lewis stated that Garg "has not demonstrated that removing five directors and potentially restoring [himself] to an executive role would offer shareholders a sufficiently clear or credible path to a superior outcome." The firm also cited the company's "prolonged value erosion and continued lack of profitability" during Garg's tenure as factors weighing against the proposed board changes.

Glass Lewis noted that approval of Garg's removal proposal "would remove a majority of directors and leave significant influence over the board's reconstitution in the hands of Mr. Garg and the small number of remaining directors."

The company's Special Committee said Garg missed three self-imposed deadlines to deliver the required written consents, including a Sept. 8 deadline following an extended solicitation effort.

The Special Committee also said the company has been implementing cost reductions, advancing a process to sell its U.K.-based bank, and preparing to launch a wholesale program powered by TinmanGo, during the period of the consent solicitation.

Better filed a definitive consent revocation statement with the U.S. Securities and Exchange Commission on Aug. 28, 2026, in opposition to Garg's solicitation. The information in this article is based on a press release issued by Better Home & Finance Holding Company.

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