Bed Bath & Beyond CFO Gustavo Arnal reportedly jumped to his death Friday from his 18th-floor apartment in Tribeca, New York City, according to the New York Post.
Arnal, 52, the chief financial officer and an executive vice president for the home goods company, leaped from the “Jenga Building” in New York’s Tribeca neighborhood, according to the New York Post. He had only worked for the organization for around two years, but made more than $2.9 million from the company in 2021 via salary and stock awards, the outlet noted.
He was previously the CFO at Avon, a London-based cosmetics corporation, the NY Post continued. When he joined Bed Bath & Beyond, a corporate spokesperson noted that his world-class talent could offer new expertise, perspectives and experience, according to CNBC.
CFO of @BedBathBeyond jumps from the 18th floor of his building two days after firm announced plans to lay off 20% of staff and close 150 stores
Was also named in a Class Action Suit on Aug 23 as per their SEC filingshttps://t.co/YP5LYqTVsM
— Mangalam Maloo (@blitzkreigm) September 4, 2022
His death comes as Bed Bath & Beyond shares lost nearly a quarter of their value on Wednesday after they announced a slew of layoffs and possible stock offerings in an attempt to restructure, Yahoo Finance reported. The company also outlined plans to close more than 150 stores, Yahoo Finance continued.
“The company is a shitshow right now,” a source told Yahoo Finance. Comparable sales are expected to fall 26% from 2021, the outlet continued. (RELATED: Russian Oil Chief Dies. Company Says ‘Severe Illness’ To Blame, Other Reports Say He Fell Out 6th-Floor Window)
Arnal reportedly sold off 55,013 shares sometime between August 16 and 17, joining a number of insiders dumping their stock in the company, according to Investor Place. The stock was down roughly 35% year-to-date, the outlet added.