Better.com has added Linda Yaccarino, the former chief executive of Elon Musk’s social media platform X, to its board of directors as the digital mortgage lender seeks stability following a turbulent proxy battle. Yaccarino is among the first new board members appointed by founder Vishal Garg after he was temporarily removed as CEO and recently regained control of the company.
Garg emphasized Yaccarino’s expertise in partnership development and corporate turnaround efforts, describing her perspective as critical to Better.com’s next phase, which he refers to as “Better 2.0.” The company, which offers digital mortgage services, has faced significant internal strife that has weighed heavily on its finances and stock performance. Better.com’s shares have declined approximately 75% this year amid investor concerns over internal conflicts and Garg’s leadership decisions.
Following his reinstatement after securing majority voting rights, Garg dismissed five directors and announced plans to overhaul the board entirely. In addition to Yaccarino, investors Bing Gordon and Steve Sarracino have joined the reconfigured board. Garg intends to focus on product development, platform innovation, and operational efficiency, working alongside an interim CEO whom he is helping to select with the assistance of an advisory firm.
The proxy fight originated earlier this year when Better.com’s existing board voted unanimously—except for Garg—to remove him as CEO. The board cited concerns about Garg’s judgment and highlighted the company’s $1.5 billion net loss since 2022 as a critical factor. In retaliation, Garg called for the resignation of five board members. Better.com subsequently filed a lawsuit alleging Garg coordinated secretly with shareholders and violated federal securities laws while attempting to regain control.
Yaccarino brings experience from a tumultuous tenure at X, where she was brought in to revive the platform’s advertising business after widespread advertiser withdrawals under Musk’s ownership. She also spearheaded X Money, a digital finance service integrated with the social media platform. Yaccarino left X in 2025 following its merger with Musk’s artificial intelligence company, xAI, after reported management disputes. Since then, she has led eMed Population Health, a private health-management firm, and previously held a decade-plus leadership role at NBCUniversal overseeing global advertising and partnerships.
Better.com is currently divesting noncore operations, including its U.K. banking business, while doubling down on its Home Equity Line of Credit product with a target of $2 billion in quarterly volume. The company’s preliminary results for the third quarter, announced last week, showed revenue rising 9% to $45.1 million but falling short of both internal projections and analyst estimates. Garg attributed performance shortfalls to proxy fight-related expenditures, which exceeded $8 million in the quarter alone, alongside a drag on business volume and revenue.