Better.com CEO Vishal Garg, who laid off 900 employees over a Zoom meeting that lasted less than three minutes, is taking time off from the company.
Garg’s leave is also effective immediately, according to a Friday email from the company’s board of directors. Day-to-day operations will be taken over by the company’s CFO, Kevin Ryan. Better.com added that it is hiring a third-party firm to do a “leadership and cultural assessment,” whose recommendations “will be taken into account to build a long-term sustainable and positive culture at Better.”
The internal memo announcing Garg’s leave of absence signed by Paula Tuffin, Better’s chief compliance officer and general counsel says Chief Financial Officer Kevin Ryan will manage “the day-to-day decisions of the company” in Garg’s absence and will report to the board.
The memo says the recommendations of its leadership and cultural assessment “will be taken into account to build a long-term sustainable and positive…
Source: Linda Ikeji