Bed Bath & Beyond CFO plunges to death from New York’s Jenga tower

Bed Bath & Beyond Inc’s chief financial officer fell to his death from the 18th th floor of New York’s Tribeca skyscraper known as the “Jenga” tower on Friday afternoon, according to media reports.

Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as CFO for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile.

Police were called to 56 Leonard Street around 1 pm ET , where an unidentified man was pronounced dead at the scene, according to the New York Post.

Closures and job cuts

On August 16, Arnal, sold 55,013 shares in the company, calculations based on SEC filings showed.

The big-box chain – once considered a so-called “category killer” in home and bath goods – has seen its fortunes falter after an attempt to sell more of its own brand, or private label, goods.

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.

Bed Bath & Beyond forecast a bigger-than-expected 26 per cent slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.

Published on

September 04, 2022

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