Bed Bath & Beyond CFO Gustavo Arnal jumps to death days after company announces layoffs

gustavo arnal
Image source: AP Bed Bath & Beyond CFO Gustavo Arnal jumps to death days after company announces lay offs

highlights

  • Bed Bath & Beyond CFO Gustavo Arnal jumped from the 18th floor of New York high-rise building.
  • The incident surfaced days after Bed Bath & Beyond said it would shut stores and lay off workers.
  • The company confirmed Arnal’s death. Calls regarding the jump came in around 12.30 pm on Sept 2.

Gustavo Arnal this: In a tragic incident, Bed Bath & Beyond CFO Gustavo Arnal jumped from the 18th floor of New York high-rise building ‘Jenga’ tower in Manhattan. The incident surfaced, just days after Bed Bath & Beyond said it would shutter stores and lay off workers in a bid to turn around its beleaguered business.

The company confirmed Arnal’s death on Sunday. Calls regarding the jump came in around 12:30 pm on September 2, as per a New York Police Department (NYPD) spokesperson, the reports said. According to the New York City Police Department, police found the 52-year-old unconscious with injuries.

The company said Arnal died on Friday. He was pronounced dead in the scene and the New York City Medical Examiner’s Office will determine the cause of death. Arnal’s death was ruled a suicide, according to the New York City Medical Examiner’s Office, reported the The New York Times.

Arnal joined the company in May 2020 after previous stints at Avon, Walgreens Boots Alliance and Procter & Gamble. “Gustavo will be remembered by 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 company’s board, in Sunday’s statement.

Bed Bath & Beyond has faced turbulence recently: Its shares made a monstrous run from $5.77 to $23.08 over a little more than two weeks in August, in trading reminiscent of last year’s meme-stock craze, when out-of-favor companies suddenly became darlings of smaller-pocketed investors. The home goods retailer based in Union, New Jersey, said it will close about 150 of its namesake stores and slash its workforce by 20%.

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