Bed Bath & Beyond CFO Gustavo Arnal Dies By Suicide After Jumping From Apartment Building
On Friday, Bed Bath & Beyond Chief Financial Officer Gustavo Arnal died by suicide after jumping off of his Tribeca highrise building.
Emergency medical personnel found the 52-year-old dead at around 12:30 p.m. near 56 Leonard Street, known as the “Jenga” luxury building. The medical examiner’s office said on Sunday that Arnal took his own life.
Arnal’s wife was home at the time of his death. He did not say anything to her or leave a note.
In a statement on Sunday, Bed Bath & Beyond said they are “profoundly saddened by this shocking loss.”
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The statement continued, “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.”
The company noted, “He was also an esteemed colleague in the financial community.”
Arnal’s death came after Wednesday’s news that the retailer plans to close 150 of its “lower producing” stores and lay off a fifth of their corporate and supply chain staff. Following this announcement, Bed Bath & Beyond’s stock dropped by about 21 percent.
Interim CEO Sue Grove said that their efforts are part of an attempt to win back “dominance as a preferred shopping destination.”
She added, “We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth and delivering business returns.”
Arnal joined Bed Bath & Beyond in 2020. He previously worked at Proctor and Gamble for 20 years, and also briefly at Avon and Walgreens.
Harriet Edelman, independent chair of the board of directors, said the late CFO “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 truly be missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him,” she said.
Edelman offered her “sincerest condolences” to Aranl’s family. She said the company will support them through their loss.
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