(Bloomberg) -- Vishal Garg is returning to the chief executive officer role at online mortgage lender Better after “taking a break” that followed mass firings conducted via conference call that sparked outrage among workers.
A search is underway for new executives at the company, including a chairman, a president and a chief human resources officer, the company’s board said in a message to employees Tuesday. Garg’s return and the search for new leadership followed a “thorough, independent review of Better’s culture,” according to the memo.
Chief Financial Officer Kevin Ryan will serve as president on an interim basis, while Activant Capital partner Richard Benson-Armer will be interim chief human resources officer. The company will also form an ethics and compliance committee led by Paula Tuffin, Better’s general counsel and chief compliance officer.
In a separate email to employees Tuesday night, Garg apologized for the “angst, distraction and embarrassment” his actions have caused. The CEO also pledged to be “more thoughtful” in how he communicates with employees and to place “more trust” in other leaders at the company.
Garg took a hiatus from the company last month after a video showing him dismissing about 15% of the company’s staff surfaced on social-media platform TikTok. Garg apologized for how he handled the firing in a letter. Ensuing media coverage described Garg insulting his workforce via email and in meetings.
“I will be returning to work full-time at Better this week after taking a break from my day-to-day duties to reflect and refocus,” Garg wrote in his email Tuesday. “I look forward to working with senior leadership and the board to ensure that we have an inclusive and respectful culture in place that is always consistent with our values.”
Garg’s planned return was first reported by TechCrunch on Tuesday.
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