BETR shares fell sharply after the mortgage lender replaced founder Vishal Garg with Daniel Lewis as interim CEO.
Better Home & Finance (BETR) shares plunged 7.6% in after-hours trading Monday following the abrupt appointment of Daniel Lewis as interim CEO. The move replaces founder Vishal Garg, who stepped down by mutual agreement with the board.
The leadership change comes amid ongoing scrutiny of the company’s performance and governance. Garg, who founded the firm in 2016, had faced criticism over past management decisions, though the board did not cite a specific reason for the transition.
Investors reacted swiftly to the news, driving the stock lower in extended trading. The company has not announced a permanent successor or provided further details on the transition timeline.