Vishal Garg is seeking to return as Better CEO after being ousted (Photo: LinkedIn)Indian-American entrepreneur Vishal Garg, who went viral in 2021 after firing more than 900 of his employees during a Zoom call, is seeking to return as chief executive of the mortgage company, Better Home & Finance, after being removed from the role earlier this month.Garg has accused Daniel Lewis, who replaced him as CEO, of misleading him about his intentions before taking control of the company. Speaking to CNN, Garg alleged that Lewis gained the confidence of the board and other executives by publicly supporting the company’s strategy before eventually moving into the top job.“He hoodwinked me,” Garg told CNN. “He said he liked the company’s strategy. He praised us on X and used that to get on our board and win our confidence.”Better appointed Lewis as interim CEO on August 3, just a week after he joined the company’s board. An initial announcement said Garg and the board had “mutually agreed” to the leadership transition. The company later said its board, excluding Garg, had unanimously voted to terminate him, citing concerns about his “judgment, temperament and credibility.”Garg, however, maintains that his removal came at a time when Better was beginning to recover from years of financial difficulties. The company, which was once valued at around $8 billion during the pandemic-era refinancing boom, was hit hard by rising mortgage rates and the subsequent collapse of its refinancing business.He shared that Better’s annual sales dropped from $1.5 billion in 2021 to $70 million in 2023. He claims the company is now on track to generate around $200 million this year, helped by its AI-powered mortgage processing technology and strategic partnerships.“We’re winning. We’ve tripled loan volume. We’re close to profitability,” Garg said. “We were at the 5-yard line after taking the ball all the way down the field from the other side.”Story continues below this adLewis had reportedly advised Garg for months on cost-cutting measures and improving profitability before joining Better’s board on July 27. Garg now believes Lewis may have been aiming for the CEO position all along.Also Read | 3 failed H-1B attempts, $13,000 legal fees: How a Mumbai man won a US visa“I suspect he always wanted to become CEO,” Garg said, adding that he believes “the board made a mistake.”Despite his removal, Garg remains a member of Better’s board. He said several investors contacted him after his ouster and encouraged him to return as CEO. Garg also claims he has enough voting power, including support from early investors, to potentially regain control of the company.He has hired prominent lawyer Alex Spiro, a partner at Quinn Emanuel, and has formally demanded that Better’s board reinstate him as CEO. Garg has also offered to work for $1 a year until the company becomes profitable, after which he says he would eventually step away.Story continues below this ad“It’s an acknowledgement that I’ve been doing this for 10 years, but execution hasn’t been perfect,” Garg said. “I hope it gets resolved. I think the future still remains very bright for Better.”