According to New York City authorities, “Gustavo Arnal, an executive vice president and the chief financial officer of Bed Bath & Beyond” was the man who plunged from the 18th floor of the city’s “Jenga” skyscraper on Friday. Arnal, 52, apparently jumped to his death from the 60-story high-rise in Manhattan’s Tribeca area around 12:30 p.m. on Friday.
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’s death came just two days after Bed Bath & Beyond announced plans to cut about 20% of its workforce. As PJ Media’s Ryan Ledendecker reported last week, the retailer declared it would soon “close down 150 namesake stores, as well as plans to hand out pink slips to a whopping 20% of its workforce, mostly in the supply chain and corporate sectors of the business.” The move stood in support of “the company’s seemingly desperate bid to stay afloat” after its ill-advised and damaging woke decision to stop selling any My Pillow products of conservative Trump-supporting businessman Mike Lindell.
Bed Bath & Beyond Inc. released a statement Sunday mourning the loss of Arnal:
The entire Bed Bath & Beyond Inc. organization is profoundly saddened by this shocking loss.
“I wish to extend our sincerest condolences to Gustavo’s family. 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 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 the store closing and layoff announcement, Bed Bath & Beyond’s stock fell more than 21% Wednesday, and overall, its stocks were down 65% over the last 12 months. Interestingly, FoxNews reported, “Arnal sold 42,513 shares of Bed Bath & Beyond stock on Aug. 16 for more than $1,029,000, according to MarketBeat.com. Following the transaction, Arnal still owned 267,896 shares in the company, valued at more than $6,488,000.” It’s unclear what will happen to his remaining shares and how his death will impact the company and stocks.
Mr. Arnal joined Bed Bath & Beyond Inc. in May 2020 following a distinguished global career in finance at Avon, Walgreens Boots Alliance, and Procter & Gamble. At Bed Bath & Beyond Inc., Mr. Arnal was instrumental in guiding the organization throughout the coronavirus pandemic, transforming the Company’s financial foundation and building a strong and talented team. He was also an esteemed colleague in the financial community.
As of May 2022, Bed Bath & Beyond Inc. operated 955 stores across the United States, including 769 Bed Bath & Beyond stores, 135 BuyBuy Baby stores, and 51 stores under other operating names. It employed a total of approximately 32,000 employees as of February 2022.
NYPD authorities said the investigation into Arnal’s death continues. PJ Media will update this story as appropriate.
Source: PJ Media
