One week after laying off 900 employees via Zoom and courting a mountain of bad press, Better.com’s founder and CEO Vishal Garg is taking leave “effectively immediately,” according to an internal memo sent to employees of the digital mortgage lender on Friday.

In the interim, Kevin Ryan, chief financial officer at Better and a former executive at Morgan Stanley, will step in to manage day-to-day decisions of the company, the letter read.

Vice’s Motherboard first reported the news on Friday morning.

News of Garg’s departure comes after an onslaught of negative media coverage and departing executives, a result details ⇒

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