New York City authorities claim Gustavo Arnal was a chief financial officer and executive vice president at Bed Bath & Beyond. Arnal jumped from the 18th floor of the “Jenga,” skyscraper. He was 52 years old.
Bed Bath & Beyond CFO Jumps To His Death From High-Rise Apartment Balcony In Manhattan, Reports Say – https://t.co/X2ezNta5ux pic.twitter.com/NuLp12WEeC
— Breaking911 (@Breaking911) September 4, 2022
Arnal passed away two days after Bed Bath & Beyond announced a 20% staff reduction. The retailer also announced that it would close 150 stores in its namesake locations and give out pink slips to support its “apparent desperate effort to stay afloat” following the disastrous and expensive decision to stop selling My Pillow products by Mike Lindell, a Trump-supporting businessman.
Bed Bath & Beyond Inc. released a statement Sunday to mourn Arnal’s death:
This devastating loss has profoundly affected the entire Bed Bath & Beyond Inc. business.
“I wish to extend our sincerest condolences to Gustavo’s family. Gustavo will be remembered for all he worked with for his leadership, talent, and stewardship of our Company. I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him,” said Harriet Edelman, Independent Chair of the Bed Bath & Beyond Inc. Board of Directors. “Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family’s privacy.”
After Wednesday’s announcement of layoffs and store closing, the stock of Bed Bath & Beyond dropped 21%. The stock of Bed Bath & Beyond fell 21% on Wednesday following the announcement about the layoffs and the store closing. MarketBeat.com reported that Arnal had sold 42 513 shares for more than $1029,000 on August 16. FoxNews reported that Arnal still owned 267,896 shares, valued at $6,488,000.
After a distinguished career as a financial professional at Avon and Walgreens Boots Alliance, as well as Procter & Gamble’s Procter & Gamble finance department, Mr. Arnal joined Bed Bath & Beyond Inc. in May 2020. Arnal was the leader of Bed Bath & Beyond Inc. during the coronavirus pandemic. He also helped to transform the Company’s financial base, and built a highly respected team.
As of May 2022, Bed Bath & Beyond Inc. owned 955 stores across the United States. It had 955 stores in the United States as of May 2022. This includes 769 locations of Bed Bath & Beyond, 135 BuyBuy Baby shops, and 51 stores that were operated with different operating names.
According to the NYPD, Arnal’s murder investigation is ongoing. We will keep you updated as we learn more.
Monday Update:
Bed Bath & Beyond executive Gustavo Arnal’s deadly leap from his swanky Tribeca high-rise apartment was officially ruled a suicide by the city’s medical examiner Monday.
Arnal, who was CFO of the company before his death, jumped off the 18th story of the luxurious “Jenga Building” Friday afternoon as the retail company dealt with financial troubles and he faced accusations connected to a $1.2 billion “pump-and-dump” stock fraud lawsuit filed last month.
The medical examiner’s office ruled Arnal died from multiple blunt trauma.
The 52-year-old committed suicide while his wife was inside their apartment and he didn’t leave a note explaining the fatal plunge, law enforcement sources have stated.
