Garg claims majority support to retake control, oust Better directors.

The proposed plan seeks the removal of five directors from the company’s board, explicitly naming interim CEO Daniel Lewis among those targeted. Such a concentrated board turnover constitutes a dramatic governance intervention that could force a rapid reassessment of strategy, oversight and executive authority. Whether motivated by a major shareholder, an internal power struggle or a strategic reset, the move signals deep dissatisfaction with current leadership. The displacement of an interim chief executive intensifies questions about continuity, succession planning and the mechanisms required to effect director changes, while raising the prospect of contested votes, negotiation or legal challenges that will shape stakeholder perception and operational stability.

Removing a significant portion of the board and the acting CEO elevates immediate operational, reputational and governance risks that demand clear mitigation. Creditors, partners and employees will seek assurances on continuity and decision-making, and governance advisers may scrutinize the process for compliance and fairness. The proposer must present a credible slate of replacements and a persuasive rationale to secure support, while the incumbent board could pursue countermeasures to defend continuity. Observers will focus on communications from both sides, the composition of any replacement slate, and the company’s ability to preserve investor, customer and employee confidence through a potentially contentious leadership transition.

– Removal of five directors: A substantial board change that would alter governance balance and oversight responsibilities.
– Interim CEO targeted: Daniel Lewis is named among those to be removed, raising succession and continuity concerns.
– Governance shake-up: The plan implies significant dissatisfaction with current leadership and strategy.
– Need for replacements: Success depends on presenting credible director and executive candidates to restore stability.
– Stakeholder risk: Creditors, partners, employees and investors will look for clarity on operations and decision authority.
– Procedural scrutiny: The process may trigger negotiations, proxy contests or regulatory and advisory review.

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